I would like to buy a 8-unit apartment building for 3K

from what i have found most lenders want about 20% down.
Can i find a lender with little or no down payment?
I can pay other things like prepayed insurance, escrow, ect. but the 20% is kind of high.

Can anyone sugest any lenders?
Any sugestions?

My lender just gave me a good faith estimate 7 days before closing. The rate is not what he told me.I have been asking for a month for one. What is the law on commercial loans??

how can one make credit line for business credit card go through the roof?

I had asked this question in 'Real Estate', but it was suggested that I post it here has well. Unfortunately, my Mother was diagnosed with lung cancer at the beginning of the year, in her will, she has left her house to me, where my family and I currently live as we have cared for her for years. There is a loan on the house which is through a private lender, and there is no death insurance on that loan. The loan i

I have about ,000 in net worth. Most of it is liquid. I'm fairly young. I'm looking at a rental property that brings in ,200 in monthly income. The asking price is 0,000…can I get a loan? Thanks!

Can Anyone tell me a few websites for Business Line of Credit or loan, that do not require personal guarantee? I tried to Google it already but i just got a bunch of junk sites. Thanks for the help.

I've been told about this program and a little weary about it. I'd like to hear from people with experience with this that have invested in homes.

I need K for a surgery that will be performed on myself this year. I am a private real estate investor so my pay fluctuates, however, I seem to do just fine. I just purchased a newer but used Honda Accord 3 months ago, put K Down, and owe about K more, and I own 2 homes, appraised at 5K A piece, and on each I have two hard money loans in the amount of K per property. The rest is just equity. I have both homes for sale, however, the market is dead. My credit is about 625, however I could easily improve it

This is my situation. Would my assets help me to get a loan? I dont necessarily want to BORROW more on them… I am just wondering… what kind of a part it would play in getting myself a loan. Thanks : )

PS: My Health Insurance wont cover a thing. Thanks : ]

current terms are 10 year Amortization with a 5 yr balloon with an interest rate at 8.125% (approx 500,000)

can refi with another lender with same terms with 8.00% (approx 480,000)

or can refi with original bank at 7.625% with one year of the original note being paid down already?

I know any property with 4 units or more is considered a commercial property. That being said, can I apply for a regular mortgage for a property that has 3 units or less, or do I still have to apply for a commercial loan?

We missed this in our loan papers and our broker didnt tell us about this . We only knew about the pre payment penalty of 4%. we need to sell this real estate but the loan co says it will cost us 80k in interest. Is there any way out of this?

in the contract it says that there is not guarantee the loan will fund and the rate might change, etc. Now i cannot get my money back, what do i do? They are a corporation by the way.

Martin D. Weiss writes: The proposal before Congress for a 0 billion mega-bailout is far too little to repair the damaged debt and derivatives markets … and, at the same time, far too much for investors and taxpayers who must put up the money.
How big is the problem, really?

In the past, Congress has repeatedly asked us for data and analysis on these issues, and we have provided it in Congressional testimony and white papers. In that same tradition, below is a partial first draft of a white paper we will be submitting on this matter:

Why the Magnitude of the Mortgage, Debt and Derivatives Crisis Overwhelms The 0 Billion Bailout Plan Now Under Discussion in Congress
(Partial First Draft of Weiss Research’s Submission
to Congress and Federal Banking Regulators)
Last week, the President, the Treasury Secretary and the Federal Reserve Chairman announced their view that Congress must get to the root of the debt crisis in America by providing a broad solution that truly puts the crisis to an end.
However, the magnitude of the crisis afflicting mortgages, other debts and derivatives clearly overwhelms the 0 billion bailout proposal currently under discussion. To better understand the magnitude of the problem …
First and foremost, we urge members of Congress to disregard data based on the list of troubled banks maintained by the Federal Deposit Insurance Corporation (FDIC).
The FDIC’s list has only 117 institutions with billion in assets. But given the current proposal for a 0 billion bailout, it is clear that Administration officials tacitly recognize that the FDIC list understates the problem. There are many more financial institutions at risk or in need of assistance with their toxic paper.
How many more? We believe a more accurate count comes from our analysis of: (a) the derivative risks assumed by major banks, (b) the mortgage holdings of the largest regional banks and (c) all banks and thrifts with TheStreet.com’s financial strength rating of D+ (weak) or lower. Based on this analysis, we believe:
1,479 FDIC member banks are at risk of failure with total assets of .4 trillion.
In addition, 158 savings and loans are at risk with 6 billion in assets.
In sum, banks and S&Ls at risk have assets of .2 trillion, or over 36 times the assets of banks on the FDIC’s watch list.
These numbers alone indicate that the 0 billion contemplated for the bailout plan could be severely inadequate.
Second, Congress should seriously consider the facts in the Federal Reserve’s Second Quarter Flow of Funds Report .
In this report, released on September 18, just one day before the President announced the Administration’s 0 billion bailout proposal, the Fed estimates that the nation’s mountain of interest-bearing debts has now grown to trillion.
Plus, it provides critical additional insights regarding the breadth of the debt problems facing the nation, as follows:
1. The ownership of residential mortgages is dispersed among many different sectors. There are .1 trillion in mortgages on single- and multi-family homes in the United States. But these are not held only by banks and S&Ls. They are spread among a wide variety of institutions and individuals, all of which could have similar claims to federal assistance.
Specifically …
2. Fannie, Freddie and GSAs are still at risk. As a first priority, the plan would have to expand the recently announced bailouts of Fannie Mae and Freddie Mac in order to properly secure the residential mortgages held by government-sponsored enterprises (GSEs) and agencies (GSAs). These now total .4 trillion, according to the Fed.
Plus …
3. Private sectors and local governments also own residential mortgages in substantial quantities. The bailout plan would also have to cover:
Investment banks and others that issue asset-backed securities, now holding .1 trillion in mortgages,
Nonbank finance companies (6 billion),
Credit unions (2.4 billion),
State and local governments (9 billion),
Life insurance companies (.6 billion), plus …
Private pension funds, government retirement funds and households themselves.
4. Commercial mortgages are now going bad as well. The current debate seems to focus exclusively on residential mortgages. But at many regional and super-regional banks, much of the risk is currently in the commercial mortgage sector, where recent data denotes many of the same difficulties as the residential sector. To truly get to the root of the problem, Congress cannot exclude these either.
There are .6 trillion in commercial mortgages outstanding in the United States. As with residential mortgages, these are also dispersed widely beyond the banking sector — 4 billion held by issuers of asset-backed securities, 3 billion held by life insurers, billion at nonbank finance companies and billion at Real Estate Investment Trusts (REITs).
5. Mortgages are less than hal
5. Mortgages are less than half the problem. Although it is true that the current debt crisis in America originated in the mortgage market, it is not accurate to say that the root of the crisis is strictly in this one sector. Rather, the debt crisis has multiple and varied roots, with excessive risk-taking in credit cards, auto loans and virtually every other form of private-sector debt.
There are currently .8 trillion in mortgages in America. But beyond mortgages, there is another .4 trillion in consumer and corporate debt. This means that mortgages represent only 42% of the private-sector debt problem in America.
6. Local governments are a higher priority. Overlooking the debt problems of state and local governments would also be a big mistake. Indeed, given the essential nature of their services, including the pivotal role they play in homeland security, it could be argued that their credit challenges take priority over those faced by banks, S&Ls and Wall Street firms.
Currently, the Fed estimates .7 trillion in municipal securities outstanding, most of which have been reliant on a bond insurance system that remains on the brink of collapse.
In short, to truly get to the root of the problem as the President is requesting, Congress' new bailout plan would have to cover a lot of ground beyond just the banking industry.
Third, we urge Congress to get a better handle on the enormous build-up of derivatives in America, beginning with a thorough review of the OCC's Quarterly Report on Bank Trading and Derivatives Activities, First Quarter 2008.
Although derivatives were originally designed to help reduce risk, it is widely acknowledged that their volume and usage have reached such an extreme level that they have become, instead, speculative bets which greatly increase the systemic risk to financial global markets.
And although regulators have few details about these derivatives, most officials now realize they may be at the root of the panic th
officials now realize they may be at the root of the panic that began to spread throughout the global banking system in the wake of the Lehman Brothers bankruptcy on September 15.
Therefore, it should be well understood by all members of Congress that, to ward off possible renewed waves of global panic, the bailout plan would also have to address the following facts:
The notional (face value) amount of derivatives held by U.S. commercial banks is 0.3 trillion.
The credit exposure to derivatives (risk of default by trading partners) is 5 billion, up 159% from one year earlier.
U.S. banks with the greatest credit exposure to derivatives are HSBC (with .21 in risk per dollar of capital), JPMorgan Chase (with .11 in risk on the dollar), Citibank (.79), Bank of America (.15) and Wachovia ($.77).
Further, after Bank of America's merger with Merrill Lynch, which reports trillion in derivatives, and after a possible Wachovia merger with Morgan Stanley, which holds
Martin which holds .1 trillion, these exposures will likely be intensified.
Congress must go into its deliberations with its eyes open, recognizing that any bailout plan that does not include these banks and other players in the vast market for derivatives could leave a gaping hole through which financial panic can spread again.
Fourth, for all of these debts and derivatives, a bailout plan would, in normal circumstances, require (a) realistic estimates of the amount that is already delinquent or in default, and (b) a reasonable forecast of how many more are likely to go bad in a continuing recession.
However, the only estimates currently available are those reflecting actual write-downs recognized by large, global financial institutions — over 0 billion. That figure does not include the thousands of other institutions which are among the sectors we cite above. Nor does it include losses incurred but not yet properly booked — let alone losses not yet incurred.
To date, no
To date, no government agency is providing such estimates. But without them, any budgetary planning for this bailout is next to impossible. No one will know, except in retrospect, if the bailout truly removes the cancerous debts from the economic body or leaves most of them to fester and spread.
In sum, there should be no illusion that the 0 billion estimate proposed by the Administration can actually provide anything approaching a total solution to America's current debt crisis. It could very well be just a drop in the bucket.
Too Much, Too Soon for the U.S. Government Securities Market

There should also be no illusion that the market for U.S. government securities can absorb the additional burden of a 0 billion bailout without traumatic consequences.
In its Fiscal Year 2009 Mid-Session Review, Budget of the U.S. Government , the Office of Management and Budget (OMB) projects the 2009 federal deficit will rise to 2 billion.
However, this projection was made
before the bailouts of Fannie Mae, Freddie Mac and AIG and before the White House's 0 billion bailout proposal.
Even assuming no budget overruns beyond the 0 billion, these bailouts threaten to double or even triple the federal deficit.
The OMB seeks to minimize its 2 billion deficit projection by stating it will be only 3.3% of estimated GDP, which it deems manageable. However, after adding the cost of announced and proposed bailouts — approximately trillion — the federal deficit could be between 8% and 10% of GDP.
No reasonable person could deny that such a dramatic increase in the deficit will have an equally dramatic impact on interest-rate levels. To attract investors, the U.S. Treasury will have to pay much higher rates … and these higher rates, in turn, will drive up rates on mortgages, credit cards and nearly all borrowing.
In light of these facts, we have four recommendations:
Recommendation #1. Before passing any bailout package to patch up certain sectors of the debt markets, consider the impact of massive government borrowing on all sectors of the debt markets, and on the value of the U.S. dollar.
History proves that far less dramatic increases in government borrowing have crowded out millions of private borrowers, driven up interest rates and greatly damaged the economy as a whole.
So it's reasonable to assume that the massive increases in government borrowing required for a bailout of this magnitude would put unprecedented upward pressure on interest rates, greatly aggravate the debt crisis, sink the U.S. dollar, and cause even more damage to the economy than in the past.
To avoid these consequences, we recommend that Congress reject the Administration's 0 billion bailout proposal and shelve any related legislation, moving forward instead with our recommendation #4 below.
Recommendation #2. If, despite the risk of causing much higher interest rates and a sharp decline in the dollar, Congress is determined to pass legislation creating a new government agency to buy up bad debts as proposed, we recommend that the new agency pay strictly fair market value for those debts, including a substantial discount that reflects their poor liquidity.
Further, it should be clearly understood that:
Due to the recent sharp declines in market values and market liquidity, many of the bad debts on the books of U.S. financial institutions are currently worth only a fraction of their face value.
When the government buys these debts at fair market value, it will still leave most of these institutions with severe losses.
Many of these institutions do not have the capital to cover their losses and will fail despite the bailout.
Recommendation #3. Congress must clearly disclose to the public that:
There are several significant risks to the financial system that the
There are several significant risks to the financial system that the government is unable to address with any new legislation, including defaults on other large debts and derivatives, which could trigger a chain reaction of corporate failures.
Whether the bailout legislation is adequate or not to stem the debt crisis and prevent financial panic, the government will need to prioritize the protection of its own credit and seek to ensure the stability of the U.S. dollar.
The private sector, in turn, will need to handle any further spread of the debt crisis largely without government financial assistance.
Recommendation #4. Rather than focusing primarily on a safety net for imprudent institutions and speculators, Congress should devote more effort to bolstering the safety nets for prudent individuals and savers. These include:
The FDIC, which insures bank depositors, but has inadequate funding and staffing to handle a large wave of bank failures.
SIPC, which supposedly covers
SIPC, which supposedly covers brokerage firm accounts, but, in practice, does not compensate investors for losses in most circumstances.
State guarantee associations, which promise to cover insurance policyholders, but which have repeatedly failed to live up to their promise when large insurers fail.
Unless Congress approaches its monumental task with enormous caution, it could produce the worst of both worlds: A failure to resolve the current debt crisis plus the creation of a new set of crises that merely spread the panic and prolong the pain.

This question is for the business owners. What is the interest rate on your business line of credit? And how much is your line of credit? I just want to get a feel for what people are paying and what credit lines business owners are working with. Thanks!

Potentially an obvious real estate question, but hey, it's Yahoo answers, so I'm free to ask all the silly questions I want here:

Instead of getting a costly mortgage with a lender like Countrywide, why can't I just go out and find someone with captial and say, 'Hey, would you give me a 0,000 loan at 4%, and I'll give you first lien on the house if the payments are default?' The deal is signed at a title company and I have an EFT draft created to deduct cash from my bank for each months payments.

The benefit to me is a smaller monthly mortgage payment.

The benefit to the lender guy is that he draws 4% for nothing, and he can potentially bag the house if I default (which would be very unlikely to happen).

PROs/CONs to this plan? And what am I missing that might be painfully obvious here?
(and no, I have no plans to do this. It's just something I've been kicking around. And besides, I wouldn't even know where to go to find a rich person willing to do this anyhow..:)

What's the typical salary for a Commercial Real Estate Loan Analyst position?

What are the growth opportunities?

There is a Canadian lender which is willing to makes loan for my commercial property but I wonder if they can do that without US license?

Looking for apartment building, and want to buy an aprtment building with no money.
If theres anyone out there willing to help me buy my first apartment Building.

Kind Regards
Why everyone is taking this for a joke wyle im serious im new to this all i need is an mentor.

I heard that your business can have its own line of credit. How do you open a line of credit in your business name completely seprate from yours?

I am looking to start a bar in Chicago, IL and I know the building that I want to acquire. I have a partner who is able to put 0-400K into the project but the building itself will cost between 0K-M to acquire and will require anywhere from 0K-200K to restore and convert. I would like to know the best place to go for a commercial real estate loan keeping in mind the significant funding we already have. I would like to limit the down payment to about 0-150K to keep the rest available for the bar itself. As a side note my personal credit score isn't fantastic (about 630). Also, the building is not currently a bar but an old theater so it will require remodeling, however they do hold a liquor license so it is properly zoned.

Thanks!

I have been approved for a large commercial loan and have ordered appraisals and title work which is very expensive. If they fail to follow through with the loan can I hold them liable for the costs incurred? I have supplied all paperwork requested and have no other issues preventing me from qualifying for the loan.

I am looking at purchasing a LARGE, older Victorian home that has been converted into 7 separate units. I will be seeking a loan but since this home was once a single family, converted into multifamily greater than 5 units, will I be looking for a commercial loan as opposed to a residential loan? Any suggestions on commercial brokers if it is commercial? The property is in Tennessee.

I am looking for a small hard money loan or a no credit check loan in the area of ,000 or so in the Chicago area…

I have worked hard in the past year, and managed to raise my fico score to low 600.

I have only a few bills to pay off.
once I pay these off I will raise my score to get financing to invest in real estate.

Once I pay these off I could raise my score tremendously.
To do this I'm willing to pay a high interest rate.

Ae there any interested lenders?

I did the first 2 steps: 1. Getting Certified through the Secretary of State and 2. Calling the IRS and getting an EIN (Employee Identification Number). After doing some research I thought getting a small business line of credit wouldn't be hard but I'm kind of stuck here.

I am looking for a hard money lender in cal and dont have much time, Can anyone help.

is this a buying opportunity in both the housing sector and the stock market as house have gone south 10 – 30 % while dow jones and nasdaq seems to be falling three days in a row and up one? i have no caapital, but i am a student. im thinking about pulling cash out as a private student loan and presenting it as a down payment in a multi unit building in atlanta…. what are your thoughts and ideas of the market, housing market, as a whole nation and specifically atlanta?