I have heard many real estate agents say that the only way to close on condemned houses is cash.
This is not true!
There is a GREAT commercial loan for residential REHAB loan:
This is how it works:
- 75% LTV of the purchase plus construction costs
- 620 Minimum FICO
- 45% DTI
It is that easy!
Dax Dickson
Commercial Real Estate Companies, LLC
651-447-6300
Closing Creative Commercial Mortgage Loans in Minnesota!!!!!!!!!!!!
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Tim Jochim 612-702-1111
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