I market them and they are exclusively for primary residence-owner occupied transactions---it's a great program for light rehab projects...Regards,Scott Miller

Occupancy Owner Occupied, Second Home, Investor Interest Only Option Up to five (5) years interest only, then P&I for the remaining 25 years REQUIRES MI LTV Limits Owner Occupied, Second Homes, 90% NO MI LOAN Limits $1.25 Million Credit Score Requirement: 760 International Borrowers are eligible for this program @ 80% Close your Daytona Condotel in an LLC - Requires Personal Guaranty; Does NOT report to personal credit unless there are lates or default --------------------------------------------------------------------------------80% LTV for condotels if credit scores 640 - 759--------------------------------------------------------------------------------No prepayment penalty******** End Quote ********With regards to commercial or residential status, that depends on where the property is located and how often you stay in the property.

Jon,:welcome: to BP.How did you select the program you expect to start in 11 months?

There are hard money programs that would allow the borrower to get to 100 CLTV, but it would require increased seller participation (on the magnitude of between 35-40%).

My job is to get our projects approved by city and county reviewers all the way thru public hearing.

I am considering taking the Scott Scheel program , any feedback on that program or are there any better for the $ ?

To add clarity to my previous post ,I was not Saying violate the contract with the realtor they still get paid their commission , but, ultimately the decision of how low the price will go is up to the Bank to approve.

Scott it is a legal requirement in Ohio and you have to use the court approved form for your area.

More people bring you deals, more lenders will approve your projects, etc.

I dont have enough income coming in cause my self employed job is slow from Katrina sway of the money.I asked if I could get another program or rehab loan.