Metro Mortgage Investments
Metro Mortgage Investments
26789 Woodward Avenue, Suite 107
Huntington Woods, MI 48070
Phone: 248-547-3006
Toll Free: 877-854-0602
Fax: 248-547-2107
E-mail: info@metro-mi.com
Metro Mortgage Investments is a private money mortgage lender, specializing in financing residential real estate investors who purchase and repair foreclosure, bank-owned and distressed houses in and around the Detroit area.
Conventional vs. Private Mortgages
Most conventional lenders only provide purchase and/or rate & term refinancing on investment properties that are free of repair and in the case of rate & term refinance also require 12 months of title seasoning. Conventional lenders typically* do not provide cash out or purchase rehabilitation financing on investment properties.
*The Federal Housing Administration (FHA), provides purchase/rehab loans on owner occupied properties under the Department of Housing and Urban Development (HUD), section 203(K) program.
Benefits of Private Mortgages
Our private lenders provide short-term financing to borrowers for the purchase and rehabilitation of distressed 1-4 family income properties. With the expectation that after repairs have been completed the borrower will seek to refinance the property into a conventional mortgage or sell.
Votes:34
Comments: 0