Island Living Questions

thinkxingu · 02-20-2016, 09:00 AM

Quote:

Originally Posted by Joebon

So, your friend wants to buy a second home with no money down, improve the home and buy a boat? Isn't America great.

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Did I miss something? Where does it say "no money down"?

I also used MVSB, and worked with Lori Borin. Great people.

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Joebon · 02-20-2016, 09:53 AM

Quote:

Originally Posted by thinkxingu

Did I miss something? Where does it say "no money down"?

I also used MVSB, and worked with Lori Borin. Great people.

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It says purchase price $300, $50 for upgrades and $50 for a boat and a mortgage of $400. Math never lies.

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secondcurve · 02-20-2016, 11:43 AM

Quote:

Originally Posted by thinkxingu

Did I miss something? Where does it say "no money down"?

I also used MVSB, and worked with Lori Borin. Great people.

Sent from my XT1528 using Tapatalk

Yes you did. Basic math: Home price $300,000 + boat of $50,000 and $50,000 for improvements. mortgage loan he is seeking is $400,000. Basically, the person is asking for a loan well in excess of the $300,000 home purchase price.