| Name:
Frank
Title of Question:
Portfolio Lender for Equity Share |
|
Question: I need a lender who will recognize equity left in by the home seller (say 20% of the sale price) as down payment for an 80% of sale price qualified home buyer. |
Post Your Answer To The Question Above:
Name:
MortgageTeamFlorida.com
| Date: January 20, 2007, 11:38 am
| 
|
| Answer:
The Lender will use the lessor of the Appraised Value or Purchase Price. Why not just do 100% financing and after 3-6mths refinance if you want to use the equity. Good Luck. |
|
