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Tom Harrier's Answers


Trying to buy a foreclosure that is in need of upgrades. Can I get a mortgage, or does it always need to be cash?
The answer is "Yes", Josephine, although it may not be through a conventional lender. There are many lenders who tailor their loan products for investors and these loans are made with rehab in mind. The key to this would be the amount you have to put down, the Loan To Value, the Loan To After Repaired Value...
can i get approved with a score of 550-570
With a hard money lender and as long as you have a minimum of 35% of the purchase price to put down, yes, you can.
Need a jumbo loan for a second home out of state. How do I proceed?
Start by providing the necessary information needed. I have several lenders for jumbo loans. You can reach me at: broker@tomharrier.net and I will email you the easy two-page loan submission form to get you started or you can call me at 407.928.8542.
I have horrible credit 520ish, I own my home outright it is worth $120,000 and I am looking for a $40,000 loan is this possible?
Yes, it is very possible but as one mentioned, it would be hard money and contrary to one post, hard money lenders cannot lend to just anyone. If this is your primary residence, you'll have extreme difficulty if not impossible to find a hard money lender to lend to you, as typical hard money rate and terms...

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