All Forum Posts by: Dakota Gage

I’m curious if anyone would have a recommendation for lenders that offer second mortgages in Texas. I’m interested in a property that is listed at 300k with an assumable mortgage with a payoff of 220. Does anyone know which lenders would provide financing to cover the sellers equity?

When it comes to commercial lending will they approve you based on the income of a property or will they also take into consideration your debt to income ratio. My mother has a 7000 sq ft shop that isn’t being used as well as two mobile homes on the property that are bringing in $1000 combined that would be included. I’d like to convert the building to self storage units She is considering selling it to me for $50k to keep it in the family, but I don’t know my best option for financing in this case.