I need to refinance for debt consolidation have manufactured home on 93 acres?
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email me. I am a loan officer with Freedom Mortage. I have access to several banks and private lenders nationwide. I am would be glad to help you.
~Love McNill love_yengu@yahoo.com
Hard money lender.
www.reiclub.com
I would be more then happy to try and assist you. My work e-mail is aguajardo@gordonlending.com. Thanks and have a great day.
Antonia
Where on earth do you have 93 acres worth 3 mil? With a Mfg home on it? WOW!
First off, don't borrow what is is worth. That will get you in trouble. I would refinance and cash in some equity instead of a debt consolidation loan. You will make out better on the interest. I happen to know an excellant lady that does all my financing. Where do you live?
If you have assets of 3 mill and debt of 218k, any lender will loan to you.
BEcause of your acreage, it looks like that is why you are sitting OK on some levels today. In reality you could sell, and go some where and buy like 2-5 acres and build a nice little house for your-self.
You could come out even with a home somewhere . I mean I do not know how attached you are to the land you haev today.
If you have a job and money coming in, and you have all that "equity" you should be able to go to any bank and get a "debt consolidation loan". their risk would be covered by the 100k (give or take) that you have in equity, from teh math it looks like it would be a little less than 100k... but none the less.
www.link.20fr.com
I am a branch manager for a broker in ohio. This sounds to me like a hard money deal. These days lenders want nothing to do with manufactured homes because of the percentage of default they have. I work with a few lenders that may be able to help you out but I will need some information first. Where is the land located? How much are you looking to borrow? What type of credit do you have? There is some other info I would need but this could be enough to look into it for you. You can contact me via email or at my office (614) 985-3771.
Thank You,
Curt
What's the zoning?
You're most likely going to have to find a Department of Agriculture lender, as I don't know a single residential lender that will touch a parcel above 20 acres.
Now $218,000 out of $3 million is pretty low LTV. But $218,000 out of $305,000 is a high LTV for manufactured homes or agricultural type loans (72%), and a lot more common in my experience. I'm not very familiar with Ag loans, but manufactured home cash out is generally limited to 65%, even if your parcel was one they would touch.
Hard money is probably contra-indicated as well. By the time they add their fees, you're likely over 75%, which is their absolute limit. Of course, if the property really is worth 3 million, they'll probably do it, but you should ask yourself how likely you are to be able to repay the loan.
Is it possible to partition your land and sell part of it?
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http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com...
good luck dude.
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