I have a customer who needs financing on a home in Mobile AL. The sale price is 160000 the loan amount is 120000.
This is a property that is being purchased for a relative. The families are Vietnamese and have good credit. The problem is they cannot document all their income. The home is located in a nice area and is brick. I can supply a brokers price opinion.
Target interest rate is 7% term can be 20 to 25 years. Possible balloon note in 5.