Dallas-Fort Worth Real Estate Investor Club

Looking for a Lender

  • 08 Aug 2018 4:26 PM
    Quote
    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
    Quote
    Reply # 6432500 on 6423408
    Taylor Weakley

    Is this property their Homestead?
  • 09 Aug 2018 9:24 AM
    Quote
    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
    Quote
    Reply # 6433310 on 6423408
    Neil Aggarwal

    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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