I want to buy a property, 400-500k, without any down payment - so to cover closing costs and all that, i need a loan of up to 550k. This house is purely for renting - and the capitalization should cover a yen mortgage and then some.
Ok, here's what I want -
loan #1 - Mortgage in yen on 75% of property value/selling price.
Loan #2 - piggyback equity loan of 25% (preferably 30-35%, because then i'd need no further loan)
Possible loan #3 - secured loan - buy a $20,000 new zealand bond paying 8-10% interest, use it as to pay the interest on a 2% $80,000 Yen loan.
Possible loan #4 - personal loan - say 40-100k?
The main asset I have is a USA credit score of over 810.
So - anyone know places that do risky loans or subprime loans, like with no income check (preferably no credit check too) sort of thing?
I need a 110% loan in Yen - where?
I can explain loans inside and out, but have no idea what part of your question is. What do Yen and NZ bonds have to do with this ?? $50K in closing costs ??
Are you in Japan ??
Nobody that I know of in the US will do what you want at any interest rate.
Your credit score prob doesn't mean much outside of the US.
I've never heard of a 110% non owner loan, but what do I know.
If there is one, someone will speak up.
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MAN oh MAN, looks like we woke up some kooks.
I'm not aware of a US based subprime lender that will lend on foreign real estate 100%+ non owner.
There are always people looking to lend at some rate.
Realize that with any 100% loan, the lender takes ALL the risk. Have you contacted large international banks local to you ? HSBC, CHASE, ABN-AMRO, BofA, BARCLAYS, ING, etc. There are loads of int'l banks today.
Just for fun,, check out www.prosper.com Personal; loans are available there. Great site!!
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