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Mortgage possible?

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colum Joined: 29 Apr 2009 Posts: 15 Location: Columbus, OH 6.52 Dollars($)	Posted: Wed Apr 29, 2009 3:03 am    Post subject: Mortgage possible? Like 0 Dislike 0 Hello all, we are a english company, and we have the chance to buy several MultiFamily Apartments in the USA. All MF Apartments have min. 85% occpancy. The prices are between US$50k - 750k, the appraised value are higher. Is a Mortgage with 85-90% LTV possible for us?
gunzijjistaff Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)	Posted: Wed Apr 29, 2009 4:50 am    Post subject: Like 0 Dislike 0 Hi siegert, welcome to the forum You are asking our opinion whether you should purchase it or not?? In my opinion if you are getting the mortgage loan (as you are English company) then i won't find any problem to go for the deal. Are you planning to purchase single apartment or apartments? If it is apartments and that too also in a good prime location then you should go for it.. thats what obama man can say about it.
colum Joined: 29 Apr 2009 Posts: 15 Location: Columbus, OH 6.52 Dollars($)	Posted: Wed Apr 29, 2009 5:05 am    Post subject: Like 0 Dislike 0 Hi gunzijjistaff, thanks for your answer. Possible for us Houses with 2-6 units or Apartment propertys with 16+ (max 50) units. Our problem, we have no credit score in the USA.
gunzijjistaff Joined: 07 Apr 2009 Posts: 712 4.51 Dollars($)	Posted: Wed Apr 29, 2009 9:15 am    Post subject: Like 0 Dislike 0 Hi siegert , Most welcome to you. I think that best credit score will always help to us to get financial helps. It will make you help to get qualify for loans & other activities. It will improve your reputation. Thanks & Regards. ( )
colum Joined: 29 Apr 2009 Posts: 15 Location: Columbus, OH 6.52 Dollars($)	Posted: Sun May 03, 2009 11:28 pm    Post subject: Like 0 Dislike 0 Nobody who can answer?
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Mon May 04, 2009 12:26 am    Post subject: Like 0 Dislike 0 Hi siegert, Loans with higher LTV ratio are seen as higher risks by the lender. Lenders generally approve loans with LTv as high as 75-80%. With LTV of 85-90%, you will have to pay a very high rate of interest and you will also need to purchase mortgage insurance. A good credit score is another important factor that the lenders look for while approving a loan. It is a certainty that the lenders will check your crdt score to assess your credit worthiness. Since you do not have a credit score, getting a loan with a high LTV will not be easy. However, there is no harm in contacting some of the lenders and see if anyone of them has any good loan offer for you.

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