creative loan needed

very few lenders are doing 2nds any more.. for those that are, they are very cautions of the Combined Loan to Value.. so your scenario would be hard to do for most.. your best bet is to contact a local bank or credit union and see if there is a way to get the $50K.. .. 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

very few lenders are doing 2nds any more.. for those that are, they are very cautions of the Combined Loan to Value.. so your scenario would be hard to do for most.. your best bet is to contact a local bank or credit union and see if there is a way to get the $50K.. .. 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

Thats a tough one - I would contact a local, regional bank or credit union and see if they lend up to 90% CLTV. The programs I can see will allow up to 85% in CA but not to 90%. You might be able to combine a partial HELOC and partial unsecured or personal loan to get there. Hope that helps and good luck!

It appears you need more like $80,000 to $90,000, when you consider the selling expenses on the second property. Consider paying the first property off at the 15-year rate. and waiting for property 2 to go up in value.

If the value of your 1st home is truly $860K, it's LTV is almost 84%. You will be hard pressed to find any lender to loan you $50K which would make your LTV/CLTV 84%/90%. I highly doubt getting this loan will be possible from any conventional source.

It may be possible. You need to find a local community bank or credit union that will lend up to 90% CLTV (Combined Loan-to-Value). Only then would you be able to get a second to accomplish what you are trying to do. The alternative is to wait a little while longer. Many parts of the country are seeing significant improvement in values and this may help boost you into a viable option with a lower LTV/CLTV requirement. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950.

It may be possible. You need to find a local community bank or credit union that will lend up to 90% CLTV (Combined Loan-to-Value). Only then would you be able to get a second to accomplish what you are trying to do. The alternative is to wait a little while longer. Many parts of the country are seeing significant improvement in values and this may help boost you into a viable option with a lower LTV/CLTV requirement. Good luck. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Certified by the National Association of Mortgage Professionals and Licensed in California and Arizona ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950.