Finance in NY State

Viewing 6 posts - 1 through 6 (of 6 total)

Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
March 30, 2006 - 11:19 pm
Just to let all forumites now that we have successfully re-negotiated financing for both second homes and investment properties in NY State.
The loan are with a major US Bank and the minimum loan amount is $25,000 with a maximum LVR of 70% – 75%.
We have closed 2 deals in the last week for clients and are now taking applications generally.
Lenders fees are very competitive so are closing costs although Seasoning of 12 months does apply for clients who have purchased for cash and are looking to refinance.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]
Richard Taylor | Australia's leading private lender
Luke Taylor
Participant
@world-changer
Join Date: 2005
Post Count: 415
March 31, 2006 - 4:51 am
Sounds great Richard!
How much specifically are the up front loan fees say on a 40K property?
Thanks heaps!
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email Me
Property Support,Strategist and Buyers Agent
kiwiduvet
Member
@kiwiduvet
Join Date: 2004
Post Count: 92
March 31, 2006 - 8:59 am
Richard what about Houses that you intend to buy with finance as opposed to cash first then refinance, do you still require the 12 months seasoning as to me this negates the attractiveness
when the going gets weird the weird turn pro
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
March 31, 2006 - 8:59 am
Total loan costs are around $995 USD.
In addition there will be a 3rd party fee for appraisal, Title and Attorney Fees and in NY State Mortgage Tax.
All in all still makes the purchase well worth it.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]
Richard Taylor | Australia's leading private lender
Luke Taylor
Participant
@world-changer
Join Date: 2005
Post Count: 415
April 1, 2006 - 3:56 am
Sounds like good news!!
What sort of time frame can yr clients expect to have a loan closed?
Thanks again.
We’ve got 70 yrs on planet earth,Lets make the most of every day!
Luke Taylor | Hope Property Investing
http://hopepropertyinvesting.com
Email Me
Property Support,Strategist and Buyers Agent
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
April 1, 2006 - 8:57 am
Full doc loans where appraisal is paid up front we are ready in around 21-28 days
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]
Richard Taylor | Australia's leading private lender