DFW REI Club

 Dallas/Fort Worth Real Estate Investor Club

Looking for a Lender

  • 08 Aug 2018 4:26 PM
    Message # 6423408
    Richard Kellett (Administrator)

    I have a friend who wants to reduce her monthly payment. Is there a lender who would 

    write a note for $48,000 for 15yrs at 7%.

    Property is on 5acres, has 2400SqFt home.

    Barn, fences, horse runs.

     ARV $409,000

    If interested, contact me at 

    rakellett@netzero.net

    817-915-0122

  • 09 Aug 2018 9:21 AM
    Reply # 6432500 on 6423408

    Is this property their Homestead?

  • 09 Aug 2018 9:24 AM
    Reply # 6432520 on 6423408
    Richard Kellett (Administrator)

    Yes it is. Payment was established at a much higher loan rate. 48K is all that is left on loan.

    Payment history is perfect.

  • 09 Aug 2018 10:05 AM
    Reply # 6433310 on 6423408

    She is going to pay transaction costs to refinance the loan. 
    Instead of paying those expenses, she should use the money to pay down the loan.
    A little extra amount each month can reduce the loan amount quickly since it is a small amount.

      Neil Aggarwal
      Property Financing, LLC


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