Financing Help For Client ??

heartoftexas

Okay,,, Our client has been turned down by the banks. His morgage company said they only give you 70% of value which would show no equity. I am trying so hard to find more options. We are located in Texas.

Thanks

jcalvin

What is the approx. cost of the project? Less than 10k...greater? I noticed in your profile your trade is HVAC. I offer credit card payments to my customers that can cover it on a card. If they are looking at a new furnace around 3k, put it on the plastic. I know this is not a good financial decision to put such as this on a card, but, if they need the work done and can't afford it now, it is a means to solve the problem. There are several companies out there that offer the ability to accept cards. Search them locally and on the net. You will have to figure out which one best suits your company. They range from montly fees, per transaction percentage, per transaction flat rate, low cost start up, high mobility, yada yada yada.

Good Luck

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Cal


You hired WHO

Skip Borders

I haven't done much research on it yet myself, but I hear that HUDs 203 (k) program might be of some help.

heartoftexas

15,000 home comfort system.

rbsremodeling

FHA 203K rehab loan. Streamline 203K the banks should know about this

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SLSTech

Not all banks - for a list http://www.fhaoutreach.gov/lender/lender.do

You can check out the info on Rory's page or mine - both in our signatures with additional links to HUD's site
Practical experience - Rory is the man

FYI - HVAC sizing & insulating will be considered on both loans

If you want to go with regular financing I think it was Ed that mentioned GE, American General or Finance doing a slightly higher interest rate that you can actually offer clients

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Alabama Full Service Remodeling, Renovation, and Preservation by SLS Construction
Certified Energy Efficiency Audits, Ratings, Modeling, Verifications, & Consulting
Residential, Commercial, & Industrial Infrared Thermography Scans

heartoftexas

Awesome guys!!! Thanks