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  1. #1
    Senior Member Reputation points: 20458 Fundyman's Avatar
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    Dec 2013
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    710

    Stated Income 560 FICO Needs $240,000 Loan in Battle Creek, MI @ 60% LTV (55% OK)

    I have a client looking to do a stated income deal in Battle Creek for a purchase of a mixed use property valued at about $340,000.

    Property included residence & retail.

    We would need a BPO done since there is no recent appraisal & it was acquired 6 yrs ago as a foreclosure.

    Looking for hard money, & really fast closing (contract says closing needs to be by the 3rd of February).

    Rate & points don't really matter unless they're truly overboard.

    This is not easy to find lenders out there for, but if you do those loans or have a contact who can get it done, let's do it!

    PM or solidmerchantsolutions@yahoo.com

  2. #2
    Senior Member Reputation points: 30475 Zach's Avatar
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    Nov 2013
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    1,732

    I can't do stated income, but if his banks show at least $80K monthly I can potentially get him the $240K he needs. We can set it up with an early payoff option so he can refi into a more traditional mortgage afterwards.

  3. #3
    Senior Member Reputation points: 12878
    Join Date
    Jan 2016
    Posts
    435

    Really more free email addresses? Their is no way this is going to get done in the time frame you want. Zach you are great and fully expect you to jump on any RE deal (it is your wheelhouse after all) but I have yet to do a WBL deal that takes less than 2 weeks. Especially if he needs to schedule an appointment for a BPO, unless you can get a guy on site in the next few hours it just is not going to happen. Even with hard money loans the fastest time from docs in to funded is 10 days. This just is not feasible

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