There is so much info missing, I don't even know where to start.. If your the small guy, local investor looking to purchase a rental home, multi housing property, or maybe even a small strip mall, then you wont.. This type of financing is usually allowed for large capital, publicly traded companies.. the individual investor has to guarantee the loan, and be subject to collection in case of a default.. You could minimize your exposure by purchasing in a corporations name, however this will only work for properties that are true commercial type loans. All conforming loans, which only allow up to 4 units, must be purchased, and garanteed in an individuals name. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Generally, all traditional loans these days are non-recourse. If you default, the property is the only security for the debt.
FYI.. the caveat is "Investment Property"... and again, without knowing exactly what your looking to purchase it's had to say, but in general, If you purchase a single family home as an owner occupied property, most states are non-recourse, meaning they cannot come after you for the deficiency if the lender suffers a loss if they have to foreclose. However, the rules in most states laws can be different.. Here in AZ, If you purchase a "Residence" or any property where people live, then the loan is "non-recourse", however if you purchase a commercial building, strip mall, etc.. then the lender can come after you for the deficiency... again, you did not provide enough info to properly answer your question...I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
purchase money loans are all considered non recourse loans. Are you looking to buy another investment property? In addition, refinance loans that you do not take cash out can also be considered as a non recourse loan. This will be a refinance to improve your rate/payment.www.firstcalsd.com
If you have retirement funds or other liquid assets, research 'self directed IRA'.
One to four residential property loans are generally non-recourse. Five units and up, or commercial property loans, are almost always recourse, unless you have excellent credit, income and net worth.
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