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Old 12-19-2013, 06:04 PM
 
3 posts, read 2,895 times
Reputation: 10

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Hello. Thought I would post this as I have been looking for a lender and instead of searching, I thought I would take a chance and ask. I paid cash for this house thinking it would be easy to borrow, if needed. I checked my bank and they said I have to own it for a year first. Just checking if anyone knows of a lender who may not require that. Thanks ahead of time.
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Old 12-19-2013, 07:27 PM
 
Location: OH>IL>CO>CT
7,515 posts, read 13,616,097 times
Reputation: 11908
You might want to re-post this question in the Mortgage Forum at:

http://www.city-data.com/forum/mortgages/

Best to add city and state info and maybe $$ amounts involved.
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Old 12-20-2013, 06:27 AM
 
Location: Ak-Rowdy, OH
1,522 posts, read 3,000,162 times
Reputation: 1152
If it is investment property as your name implies you will most likely have significant issues. Your best bet is a local bank or credit union who have the ability to be flexible with terms and you are dealing with the person who has input on the decision to approve your loan. Regional or national chain banks will not be flexible and your loan officer is not involved in the approval process.
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Old 01-03-2014, 01:43 PM
 
Location: Coon Rapids, MN
31 posts, read 73,114 times
Reputation: 14
You can pay cash for a property & start the process of getting a loan the very next day.
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