Looking for a wholesale mortgage lender, 85% ltv, 669 fico, jumbo non conforming 980k loan amount, contained by LA, CA?
needing a wholesale lender for a property in Los Angeles, California.
Im working for a broker, and i'm stuck, basically hoping someone here would know some magical lender that would do this. thanks!
Answers:
With a 669? What are you smoking?
Seriously, anyone who know anything has heard adjectives about BofA and CMC.....and that much of the stroy is yet to be told... And your out at hand trying to get a jumbo for a schlep with a 669.....un-effin-believable!
It be greedy people like you that get us in this mess.
I hate to vote it but I think your stuck. it's not the ltv or fico that's hurting you, it's the loan amount, the highest fha will walk there is 714k or something like that. Do you hold fha access out there? Talk to some of your ae's if you havn't already, but this is a tough one, sorry I couldnt help more Source(s): mortgage broke
New Program here in Sacramento, we do loans 85%LTV and our lenders are the best.
It is possible if you know what you are doing. Email me.
thechase23(a)yahoo.com
no way ...
credit poor
85% LTV will not fly anymore
for that loan most will want 20% down and 750 credit
at 669 you can guarantee unpaid and missed payments by end of year one.
visit http://realstate-california.blogspot.com… may make a payment up sme idea Source(s): http://realstate-california.blogspot.com…
Yes, I surmise you are gonna need 20% down + you should check on the appraisal...they might not lend as much as you need against the house. CA TRUE estate is really suffering. So, if she needs $980K to pay bad her current mortgage but the house is currently worth only $700K then the lender will simply lend 80%*700K.
It's a horrible situation. Sorry, so many people are within this situation in CA.
Can I suggest she call and work near her current lender? I know a lady here (in Southern Ca) that was competent to get her ARM turned into a 30 year fixed at...6.25% by working with her lender and relating them she wasn't going to be able to make the payments.
That's the individual thing she can do, really if she wants to save the home.
Good luck, great of you to try and help her.
p.s. I just read your Resolved Question just about USD Law. I completed their paralegal certificate program last year. I would notably recommend that before you commit to law academy. Both UOP and USD Law are very expensive...not a great financial choice in today's reduction. I would suggest applying to a less expensive 4 year school (like a Cal State school) Not the best background but it will get the job done on a budget and it's much more respected than UOP and National.
Around here, employer don't give a lot of significance to UOP and National. That's coming from more than one guidance counselor. Why pay a ton of $ if nobody respects the degree?
Also, you should consider going thru the paralegal program at USD first. That style you can work at a law firm and gain experience if you decide to step to law school. The credits don't count toward your tenet degree but the experience is invaluable if you want to make it your art.
p.s. don't give a thought to J.B.- take a look at the sensitive of questions he's been asking. What a lowlife!
Related Questions:
For California homeowner mortgage write past its sell-by date personage must be hired, title, or both?
I am curious if a person has to be individual on the loan, or title, or both, if they are making the loan payments to be eligible for the mortgage interest tax deduction write past its sell-by date....
Im working for a broker, and i'm stuck, basically hoping someone here would know some magical lender that would do this. thanks!
Answers:
With a 669? What are you smoking?
Seriously, anyone who know anything has heard adjectives about BofA and CMC.....and that much of the stroy is yet to be told... And your out at hand trying to get a jumbo for a schlep with a 669.....un-effin-believable!
It be greedy people like you that get us in this mess.
I hate to vote it but I think your stuck. it's not the ltv or fico that's hurting you, it's the loan amount, the highest fha will walk there is 714k or something like that. Do you hold fha access out there? Talk to some of your ae's if you havn't already, but this is a tough one, sorry I couldnt help more Source(s): mortgage broke
New Program here in Sacramento, we do loans 85%LTV and our lenders are the best.
It is possible if you know what you are doing. Email me.
thechase23(a)yahoo.com
no way ...
credit poor
85% LTV will not fly anymore
for that loan most will want 20% down and 750 credit
at 669 you can guarantee unpaid and missed payments by end of year one.
visit http://realstate-california.blogspot.com… may make a payment up sme idea Source(s): http://realstate-california.blogspot.com…
Yes, I surmise you are gonna need 20% down + you should check on the appraisal...they might not lend as much as you need against the house. CA TRUE estate is really suffering. So, if she needs $980K to pay bad her current mortgage but the house is currently worth only $700K then the lender will simply lend 80%*700K.
It's a horrible situation. Sorry, so many people are within this situation in CA.
Can I suggest she call and work near her current lender? I know a lady here (in Southern Ca) that was competent to get her ARM turned into a 30 year fixed at...6.25% by working with her lender and relating them she wasn't going to be able to make the payments.
That's the individual thing she can do, really if she wants to save the home.
Good luck, great of you to try and help her.
p.s. I just read your Resolved Question just about USD Law. I completed their paralegal certificate program last year. I would notably recommend that before you commit to law academy. Both UOP and USD Law are very expensive...not a great financial choice in today's reduction. I would suggest applying to a less expensive 4 year school (like a Cal State school) Not the best background but it will get the job done on a budget and it's much more respected than UOP and National.
Around here, employer don't give a lot of significance to UOP and National. That's coming from more than one guidance counselor. Why pay a ton of $ if nobody respects the degree?
Also, you should consider going thru the paralegal program at USD first. That style you can work at a law firm and gain experience if you decide to step to law school. The credits don't count toward your tenet degree but the experience is invaluable if you want to make it your art.
p.s. don't give a thought to J.B.- take a look at the sensitive of questions he's been asking. What a lowlife!
Related Questions:
For California homeowner mortgage write past its sell-by date personage must be hired, title, or both?
I am curious if a person has to be individual on the loan, or title, or both, if they are making the loan payments to be eligible for the mortgage interest tax deduction write past its sell-by date....