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where is the best place to get approved for a loan for an investment…

Customer Question
where is the best place...
where is the best place to get approved for a loan for an investment property with less than perfect credit? (townhouse 40,000)
Submitted: 8 years ago.Category: Finance
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Answered in 6 hours by:
6/27/2010
Financial Professional: Eric, Financial Manager replied 8 years ago
Eric
Eric, Financial Manager
Category: Finance
Satisfied Customers: 559
Experience: Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
Verified

I appreciate the opportunity to help!

Financing in Florida is getting much harder especially when it comes to townhomes and condos. Also, being an investment property and not you primary residence may also prove to be a challenge. You most certainly be required to put some money down. I'm guessing it could be as much as 20%.

You might just try:

www.lendingtree.com

They will basically look at your purchase and try to broker it and find a lender willing to do the loan. Depending on how low your credit score is and how much down payment you have, they can tell you what is going to be possible in this market.

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