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North Coast Financial provides REO mortgages for California buyers purchasing bank-owned property. REO property typically cannot be purchased with traditional or conventional types of financing. Banks commonly require all cash or REO financing from private money lenders. REO loans can be obtained by buyers with a down payment of at least 25-30% of the REO property purchase price.
After the property has been secured with help of the REO loan, the borrower can make repairs or improvements if needed and then refinance into a conventional, long-term loan. The property could also be sold if the initial intention was to do a fix and flip project. REO loans are often written for 12 month and can be funded in as few 7 days if needed.
Please contact North Coast Financial for additional information on REO mortgages.
North Coast Financial, Inc.
2424 Vista Way #202
Oceanside, CA 92054
760-722-2991
jeff@northcoastfinancialinc.com
After the property has been secured with help of the REO loan, the borrower can make repairs or improvements if needed and then refinance into a conventional, long-term loan. The property could also be sold if the initial intention was to do a fix and flip project. REO loans are often written for 12 month and can be funded in as few 7 days if needed.
Please contact North Coast Financial for additional information on REO mortgages.
North Coast Financial, Inc.
2424 Vista Way #202
Oceanside, CA 92054
760-722-2991
jeff@northcoastfinancialinc.com
