We work with numerous investors who purchase investment properties in South Florida. Most investors need a short term bridge loan with a 12 month balloon. The rate and fees are typically lower on short term loans.
We do not lend on wood framed properties or properties that have a predominate flat roof.
As most investment property purchases are unique, contact Chris Cory directly to discuss your situation.
What should I do now?
STEP #1: Submit a copy of the property tax record card and any pictures you may have of the subject property. In addition, submit the proposed sales contract (if applicable).
STEP #2: Submit documentation (property tax card, water bill, etc.) that shows you currently have a primary homestead property. We do not lend on primary properties. We only lend on Investment properties. Prior to closing you will have to execute a Non-Homestead Affidavit that indicates the subject property loan will not become your primary dwelling. If you are currently in foreclosure we will not provide financing to purchase another property.
STEP #3: CDC Financial Corp will review the above information and contact you within 24 hours. If acceptable, we will require a non-refundable fee (varies $150-$250) to inspect the subject property.
NATIONWIDE MORTGAGE LICENSING SYSTEM / LICENSE NUMBERS
CDC Financial Corp. : NMLS 381082
Chris Cory : NMLS 368933