NLIC.org

Cecil Said:

Is anyone offering an 80/10/10 loan or a 90/10 loan on investment properties?

We Answered:

No one, you need 30% down, from yourself, not another bank.

Lauren Said:

80/10/5 Home loan - conver to Home Equity Line of Credit?

We Answered:

There is no rule about not refiancing an REO for 3 months. I think the poster is confused with the flipping rule.

Your current 2nd is probably fixed so even thought the rate seems high, in the long run I doubt a HELOC would be better because it is probably adjustable..

$555,000 may be what the lender went with for your appraisal, but your sale price was $460,000 & that is what your figures add up to. It is always lowest of sale price or appraised value that is used. If the house did appraise for that much your best bet may be to do a cash out refinance, paying off the 1st & 2nd & getting a new 1st only. The regs are changing daily it seems, so do it quickly & good luck with this.

Jessica Said:

Can escrow/impounds usually be waived for 80/10/10 loans?

We Answered:

Absolutely--that is one of the benefits of an 80/10/10 combo loan. Besides no PMI, you have the option of waiving escrows--both taxes and insurance.

Rick
http://www.fairwaymortgagelending.com

Chris Said:

You are starting a bakery ,80,000 loan from family and a 38,250 sm business loan. loans to be repaid in 10 yrs

We Answered:

you need to shop around for more options, try
http://www.orbitbusinessloans.com/
http://orbitmerchantsolutions.com/

Mathew Said:

How much is 80% of $10,000?

We Answered:

That's $8,000 - make sure the interest they charge you for this amount is not too high. If it is, just save up the $10,000 instead and pay for it in full.

Lester Said:

a bank loans $80,000 to a business at 10% for 3 months how much interest will the bank earn?

We Answered:

How is the interest to be calculated according to this loan?
If it is straight interest of 10% for the loan, then interest is $8,000.
Otherwise, we need more information on the loan and its terms.