HI .Can anyone help me get the rite info.
I am on a invlid pension .
i would like to get vendor finance .
i have a nother pensioner that would like to be co brower with me .
togeather we pay $520 pfn
is there any home loan that we can go for in that range .
please do not ask if we have a deposit (think about it) .
we do not owe any money at all we have clean credit and a perfict history of payments (rent) i have been told that the rent payment history is an item that lenders will look at .Any Way Please help if you can or advise of someone that i can talk to .
thank you for your time .
Danny.D Hattersley
Hi Danny,
Which state are you in?
Feel free to PM or email me and I can send you some info.
In the meantime I’m sure some of the experienced forumites who are mortgage brokers may be able to provide some comments / suggestions / advice.
All the best!
Kind regards,
Adam
Don’t let life get in the way of living.
Hello dannyhattersley,
First the vendor is the seller of the property.
Thus vendor finance is where the seller lends you the money to buy the property.A lender in this case will no doubt have different requirements to a bank.
The advantage here is that they often have a higher risk tolerance and will consider more options and will make suggestions.Consider it this way if the vendor rented the property they get so much.
But as a lender via vendor finance they get a loan payment that will be larger.
And this could be a good / better income stream for the vendor.
This is essentially that wraps are if my understanding of them is correct.I am sure there are plenty of people on this forum who can help you.
Always remember disability or age, are not always reasons against doing business but can actually be an advantage.
Best of luck Colin.[evo]A wise man should have money in his head, but not in his heart.
Jonathan Swift (1667 – 1745)Do not be fooled into believing that because a man is rich he is necessarily smart. There is ample proof to the contrary.
Julius Rosenwald (1862 – 1932)Email [email protected].
Fax new number coming
Mobile 0425201055.
For all your CLEANING and GARDENING work.
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