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Updated about 6 years ago on . Most recent reply

User Stats

7
Posts
1
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Rick Cuevas
  • Investor
  • Orlando, FL
1
Votes |
7
Posts

Help! looking for Delayed Financing provider for FL deal

Rick Cuevas
  • Investor
  • Orlando, FL
Posted

Hello BP, I'm closing on a cash deal but need to get my money back out as quick as possible afterwards. I'm looking for Delayed Financing provider that will lend on 100% of purchase price (and if possible on rehab costs included in the HUD, though not required).

For this deal it's safe to say that the purchase price will be lower than ~75-80% of appraisal value. I understand they may have to choose between the lower of the two between appraisal and purchase price. There is a large amount of equity so I just want to play it safe by knowing that I can get 100% of purchase price if the lender will allow it. Can anybody point me in the right direction for a lender? Deal is in Deltona, FL. Thanks in advance!

Most Popular Reply

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2,367
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746
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Harjeet Bhatti
Pro Member
  • Lender
  • Glenview IL- CDLP NMLS#230554
746
Votes |
2,367
Posts
Harjeet Bhatti
Pro Member
  • Lender
  • Glenview IL- CDLP NMLS#230554
Replied

@Rick CuevasThat's how the guidelines are for delayed financing.  The lender has to follow guidelines if you are cashing out under delayed financing. 

  • Harjeet Bhatti
  • Loading replies...