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Rainmaker
4,558,684
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Chuck -- I see you are in Florida --- Mortgage experts John Meussner and Joe Petrowsky are both licensed in your state(as well as others).   Either one would be a good choice to ask this question.   

Nov 19, 2016 10:30 AM
Ambassador
3,340,755
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I highly recommend you contact Joe Petrowsky - if it can be done ... Joe can do it.  I wish you all the best!!

Nov 19, 2016 12:09 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chuck,

What Michael Jacobs recommended, and I agree with him.  A

Nov 20, 2016 01:19 PM
Rainmaker
1,499,508
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I second Michael Jacobs response

Nov 20, 2016 09:05 AM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Are you looking for a lender? As Michael Jacobs said we have some great ones here in the Rain.

Nov 20, 2016 04:43 AM
Ambassador
5,205,500
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Ask Joe Petrowsky or John Meussner their take on this.  Good luck, Chuck Mixon!

Nov 20, 2016 01:15 AM
Rainmaker
4,272,524
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I don't think it is all that rare...

Nov 19, 2016 01:54 PM
Ambassador
5,036,429
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

You have some good answers below. Good luck!

Nov 19, 2016 11:54 AM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

I don't think it's that unusual.  I think any lender should be able to do this.

Nov 19, 2016 09:52 AM
Ambassador
1,074,721
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

 This is allowable and I'd be happy to help if you still need it (thank you everyone that recommended me : )

 

As others have mentioned, Trust documents would need to be reviewed should it close in a Trust.

Nov 21, 2016 07:02 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Michael Jacobs nailed this one!

Nov 20, 2016 02:36 AM
Rainmaker
4,981,162
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I see that all the time..most lenders can pull this off.

Nov 19, 2016 11:07 PM
Rainmaker
19,816
Steve McRory
Pro Option Mtg. 888-662-4404 - Tampa, FL
Mortgage Loan Originator

Yes, start packing for the move!  I know 4 banks that allow such flexability, but would have to check on the low loan amount

Nov 19, 2016 10:45 PM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sorry, can't help.

Nov 19, 2016 10:02 PM
Rainmaker
5,197,759
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Some lenders will shy away from this. Some will do it with a personal guarantee. Consult your local banks!

Nov 19, 2016 09:49 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I am sure there are several.

Nov 19, 2016 09:15 PM
Rainmaker
1,723,526
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

As Patricia Kennedy wrote. Lenders will require Trust Documents with principals to the Trust involved.

Nov 19, 2016 08:59 PM
Rainmaker
5,583,178
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

should not be an issue with most lenders....

Nov 19, 2016 07:59 PM
Rainmaker
5,096,966
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Sounds like a basic loan to me. Contact any of your preferred lenders in your area.

Nov 19, 2016 07:33 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Chuck Mixon -  I think this happens - not so often, but it does.

Nov 19, 2016 03:44 PM
Ambassador
6,364,089
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not sure what you are asking for here Chuck, does the buyer have a family member who trusts them for this amount and has the capacity to lend this much?

Nov 19, 2016 01:00 PM
Rainmaker
1,237,945
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 90% lenders will lend you money for that value.  Most brokers will decline because of such small amount. May be credit unions....

Nov 19, 2016 12:57 PM
Rainmaker
2,224,473
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I'm sorry I don't have an answer for, but you've come to the right place to find out. 

Nov 19, 2016 11:47 AM
Ambassador
2,680,399
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Local lender - portfolio loan.

Nov 19, 2016 10:45 AM
Rainmaker
2,352,880
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Good luck -- I hope you find the right lender!

Nov 19, 2016 10:37 AM
Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

It is all abouit colateral

Nov 19, 2016 10:33 AM
Rainmaker
7,802,399
Roy Kelley
Retired - Gaithersburg, MD

If is not unusual for family members to be co-borrowers.

Nov 20, 2016 12:41 AM
Rainmaker
1,157,785
FN LN
Toronto, ON

Best wishes on your search.

Nov 19, 2016 12:01 PM