90% LTV JUMBO? 700FICO? Purchase ...HELP!!!!!
I have a $900K Purchase, of a SFR in New Mexico. Borrower has $90K Down Payment. Loan Amount is $810K. FICO is 700. Good DTI. Borrower is S/E.
Is there any lender who can do this at a reasonable rate?
Does anyone know how we can investigate Mortgage Insurance Availability upfront in the process?
US Bank does these but requires a 750 FICO. My borrower ONLY has a 700.
by StillDeep July 24, 2009 10:33 AM
Can you split it up? An 80/10/10? My suggestion was going to be US Bank.
Dat's all I's got.
by ICD's No. 1 Groupie July 24, 2009 10:52 AM
ICD Who can do the 10/10 at a 700 FICO? I remember not so long ago when a 700 was considered a "good" score. Now it can't even make the CUT??
At this point I am looking for suggestions on simply,......
Can any lender known to our online community get it done on a 30 year fixed, even at what might be considered a higher rate?
Thanks for any and all useful input!!
by StillDeep July 24, 2009 11:09 AM
I CAN HELP YOU WITH THIS LOAN. PLEASE GIVE ME A CALL.
CHUCK CRAWFORD 937-414-6191
by chuckec1204 July 24, 2009 12:08 PM
I'm grasping of course, but wouldn't US Bank do the second with that score?
Heck, I don't even know if 90% CLTV on a Jumbo flies anymore.
I'm lucky if my loans top $100,000 so I have a whole different set of challenges than the average guy.
I'm still looking for you though....I thought maybe GSF had something, but I don't see anything on their rate sheets.
Try doing a regular loan scenario on here and see if you get any legit takers.
by ICD's No. 1 Groupie July 24, 2009 12:10 PM
i do not think US bank will do that high of CLTV.
by theartofmortgage July 24, 2009 1:20 PM
My Basic Loan Scenario request got "Zero" , relevant Hits.
Perhaps I should be looking for who can do an 80% 1st and/or a 10% second.
I guess a $720K 1st and a $90K 2nd would work.
Anyone know who might do the second on Jumbo to 90% CLTV?
US Bank won't do our 700 credit score.
by StillDeep July 24, 2009 3:48 PM
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by SangerFinancial July 27, 2009 1:44 PM