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It can't be this difficult...what am I missing
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<blockquote data-quote="larryshoat" data-source="post: 514499" data-attributes="member: 6773"><p>Texasgal, first we must learn to think like the banker .Trying to convince them to make a loan based on the idea that they are only going to lose half their money is a hard sell, in other words they are worried about the other 50% . They have all kinds of ratios that they look at like debt to asset, needs to be 2 parts asset to 1 part debt after the loan is made .They want you to have enough income to service and retire debt plus enough to live on without counting on any income from what you are going to buy .As sugarman mentions they would rather loan money to someone that is established and proven than to take a risk on someone young and starting out .The bank will always do what is best for the bank, if that coincides with what is best for you then your in luck .National banks are tougher because they are federally regulated, a state abnk or an S&L may not be so regulated, therefore be easier to deal with . Don't get discouraged many of us have been exactly where you are . My prayers are with you for your success in this .</p><p></p><p>Larry</p></blockquote><p></p>
[QUOTE="larryshoat, post: 514499, member: 6773"] Texasgal, first we must learn to think like the banker .Trying to convince them to make a loan based on the idea that they are only going to lose half their money is a hard sell, in other words they are worried about the other 50% . They have all kinds of ratios that they look at like debt to asset, needs to be 2 parts asset to 1 part debt after the loan is made .They want you to have enough income to service and retire debt plus enough to live on without counting on any income from what you are going to buy .As sugarman mentions they would rather loan money to someone that is established and proven than to take a risk on someone young and starting out .The bank will always do what is best for the bank, if that coincides with what is best for you then your in luck .National banks are tougher because they are federally regulated, a state abnk or an S&L may not be so regulated, therefore be easier to deal with . Don't get discouraged many of us have been exactly where you are . My prayers are with you for your success in this . Larry [/QUOTE]
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It can't be this difficult...what am I missing
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