Get to know David Brown
We have put together a program to help investors purchase properties with up to $2500 down. This is much less than the 20 to 30% down the mortgage companies are requesting. This keeps your money in the bank. An average savings of $17,500 (based on a $100,000 purchase of 20% down)
HOW IT WORKS:
We will close the property and transfer property into your name. We will place a lien/note for the sales price against the property to secure our interest. During the time you have the note; a monthly payment will be made to us.
You will then immediately apply for a rate and term refinance to get permanent financing. This needs too be done within 60 days from the time you take title. Extensions will be granted for those who need them.
During the refinance process you will still be able to collect the rent on the property. We have a property management team in place.
HOW TO QUALIFY:
Qualifying for this program has the same requirements as if applying for a mortgage. You will need:
•· 620+ credit
•· No BK for 4 years
•· 2 Years Tax Returns and W-2's - no stated income - self employed OK
•· Last 2 months bank statements
•· Last 2 paystubs
WHO DOES REFINANCE:
You can use any mortgage company to refinance. We just ask for the name, number and e-mail of your loan officer. We also ask for them to provide a copy of your credit and DU findings showing you can be approved for a refinance.
We do have lenders that we have worked with successfully if you need someone o assist.
All properties are in the City of Detroit. They are fully rehabbed and rented. Each property comes with a 1 year home warranty. The properties have been inspected and cleared by the city. The work performed was done by licensed contractors with permits pulled for each job. For a complete list of properties, please e-mail us at email@example.com or visit www.buydetroitproperties.com
We do like to make sure those who have buyers are taken care of. If you have a qualified buyer, please contact us and we can make arrangements for you to get paid for your assistance.