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Commercial mortgages, Multi family mortgages,  Vacant land mortgages

Commercial loans are riskier than loans on single family homes. We are much more conservative with commercial loans and vacant land  loans and the yields must be higher. Multi family is safer than offices, retail or factories. Vacant land is the riskiest of all.

Remember you are buying an EXISTING mortgage. The discount you get should reflect the terms of that loan. For example, the original mortgage may have a 10% per year interest rate. But if you pay less than the face value of the mortgage then your yield improves.

Or you may just want to buy part of the mortgage.
 

Credit rating Investment to Value Yield to you 
A+. 
No 30 day late last 12 mths
 FICO=680+
65-75 11.50
50-64 11.00
A
1 30 day late last 12 mths.
FICO=660-680
65-75 12.50
50-64 12.00
A-
2 30 day late last 12 mths.
FICO= 640-660
65-75 12.75
50-64 12.25
B+
3 30 day late last 12 mths.
FICO=620=640
60-70 13.00
50-59 12.50
B
4 30 day late last 12 mths.
FICO= 600-620
60-65 14.00
50-59 13.50
C
60 day lates last 12 mths.
FICO=520-600
50-60 15.00
40-49 14.50

Remember, the above are guides only. Never let anyone tell you how to invest your money. As a practical matter, if someone has put up 20% of their own money to buy a commercial  property it is very unlikely the loan will default. There are exceptions. In Texas some years ago, homes fell in value by 40% and thousands of home owners gave their homes to the bank or were foreclosed.

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Finding Seller Financed Mortgages
Where do you find these seller financed mortgages?

[Buying existing mortgages] [What is owner financing?] [3 advantages] [4 disadvantages] [Why people sell mortgages] [The effect of compounding] [Partial purchases] [Evaluating potential foreclosure] [First or second mortgages?] [Frequently asked questions] [Valuation seller-held mortgage] [The 5 Cs. Collateral] [5Cs. Credit and capacity.] [5Cs. Commitment and consistency] [Discounted mortgage calculator] [Mortgage credit  ratings] [Owner occupied real estate] [Non owner occupied real estate] [Commercial real estate] [Find seller financed mortgage] [Find owner financed mortgages (contd)] [On-line mortgage and note buyer database] [Legal questions] [Mortgage and deed of trust purchase contracts] [Final steps] [Mortgage fraud] [Paying for seller held mortgage] [American Cash Flow Association]

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