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Author Topic: REFI NOO Penna  (Read 16890 times)

Offline JBJR

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REFI NOO Penna
« on: December 09, 2005, 02:27:04 pm »
In Penna, triplex, need to cash out.  Mid FICO is 635.  Stated income of course.  quickest cheapest way to go?  
(I have played with three incompetent "mortgage brokers" who have lied cheated and practically stole and were never able to deliver,  so please no more of these people....)
Purchased  6/04  = 129K
Mortgage             = 115K
Current Value      = 229K
i looking to cash out about 40K either refi or equity loan.

Offline Lendinghand

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Re:REFI NOO Penna
« Reply #1 on: December 09, 2005, 02:54:37 pm »
2-4 family 100% Financing available
Jason Vogler
Realtor - Ex Loan Guru
314-566-0919 direct

Offline 4EEM

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Re:REFI NOO Penna
« Reply #2 on: December 09, 2005, 03:02:44 pm »
I'm not licensed in PA, but I can refer you to a guy I work with in Pitt that can do this deal no problem....Unless there is something your not telling us.
Patrick S. Lawson
Highland Lending, Inc.
Phone  (407) 877-0093
Fax      (866) 476-1133

Offline Fortune Mortgage

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Re:REFI NOO Penna
« Reply #3 on: January 17, 2006, 08:34:59 pm »
That's a done deal, up to 90% cashout for sure. Hope its working out, 620 FICO is all you need for a stated income/stated asset deal. Shoot me an email if your jammed.
Fortune Mortgage Company
Residential*Commercial*International
Cashflow-Capital Specialist
Brandon R. Blake
1.800.250.7595

Offline Mdhaas

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Re:REFI NOO Penna
« Reply #4 on: January 18, 2006, 01:53:33 pm »
Quote
Mortgage            = 115K
Current Value      = 229K
i looking to cash out about 40K either refi or equity loan.

I am assuming that this is a N/O/O.  So you are looking to refinance for 155K on a value of 229k that is a LTV of 68% and noone can get it done?

Is there something that you are not telling us?


Patrick where are you going to find 100% financing on a stated, N/O/O 1-4 unit with low 600 score?  That is not happening with a legitimate lender.

Brandon the same is true for a 90% scenario
« Last Edit: January 19, 2006, 07:48:28 am by Mdhaas »
If at first you don't succeed.....................skydiving is not for you

Offline christopher w

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Re:REFI NOO Penna
« Reply #5 on: January 18, 2006, 02:13:47 pm »
sub-prime or should I say non-prime all the way baby. On that subject...can anyone suggest a lender that will do a straight 100 %LTV second home stated income with a 661 FICO. I can do 80/20 all day long but they want a straight 100%. Homecomings will do it all day full doc but not stated.
Christopher W
C-214.923.5781

Offline Mdhaas

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Re:REFI NOO Penna
« Reply #6 on: January 18, 2006, 02:25:00 pm »
Have you tried the scotsmanguide?
If at first you don't succeed.....................skydiving is not for you

Offline christopher w

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Re:REFI NOO Penna
« Reply #7 on: January 18, 2006, 03:29:53 pm »
Yeah I checked the Scotsman Guide. Meritage will do it, but rate SUCKS.
Christopher W
C-214.923.5781

Offline Investment Loans

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Re:REFI NOO Penna
« Reply #8 on: January 19, 2006, 01:11:31 am »
I'll back Patrick up on this one.  

100% cash out is available on a 1-4 unit noo with your mid score.

These are not subprime deals and are with a legit lender!

You really should not be having that hard of time with a broker.  But I guess thats why you're here posting now.

Question,  you've been a member for almost 1 year now, how come you havent built a relationship with one of us brokers on this site?  It appears that most everyone is knowlegable with just about the same products.  Give or take a couple.

One more question. Back in August your were looking for ideas on funding rehabs.  Have you teamed up with a good hard money lender yet?

It really would be best if you give one of the mortgage consultants on the board a call.  I think it would solve all your financing concerns.
To Our Success!
Ben Carmona * Consultant * ALL STATES * www.BenCarmona.com * 314-914-6052
1-4 Unit Investment Properties
Hard Money Rehab Loans * 24hr/1 day double close funds * Portfolio/Commercial/Business Options * No Seasoning Refis

Offline Mdhaas

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Re:REFI NOO Penna
« Reply #9 on: January 19, 2006, 07:47:42 am »
Quote
100% cash out is available on a 1-4 unit noo with your mid score.

These are not subprime deals and are with a legit lender!

Your sure, Stated income? 100% LTV, N/O/O, Cash out.  640 mid ,2-4 unit?


If so you may have found the Holy Grail!!
« Last Edit: January 24, 2006, 11:47:30 am by Mdhaas »
If at first you don't succeed.....................skydiving is not for you

Offline Investment Loans

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Re:REFI NOO Penna
« Reply #10 on: January 19, 2006, 09:00:58 am »
Stated income, stated income/stated assets, no ratio, and NINA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
To Our Success!
Ben Carmona * Consultant * ALL STATES * www.BenCarmona.com * 314-914-6052
1-4 Unit Investment Properties
Hard Money Rehab Loans * 24hr/1 day double close funds * Portfolio/Commercial/Business Options * No Seasoning Refis

Offline hammertime

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Re:REFI NOO Penna
« Reply #11 on: January 19, 2006, 10:07:11 am »
Quote
Stated income, stated income/stated assets, no ratio, and NINA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Quote
If so you may have found the Holy Grail!!

Ben

I have been looking for a lender that can do 100% LTV, N/O/O, 4 unit, Stated, Cash out.  640 mid

Who does this?
« Last Edit: January 24, 2006, 10:39:00 am by hammertime »

Offline christopher w

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Re:REFI NOO Penna
« Reply #12 on: January 19, 2006, 10:44:08 am »
Ben,

C'mon man throw us a bone. Who does those loans? I could sell that all day long here in Texas.
Christopher W
C-214.923.5781

Offline 4EEM

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Re:REFI NOO Penna
« Reply #13 on: January 19, 2006, 10:51:37 am »
AEGIS will do it.....They are going to beat your client up on rate....but they will do it.
Patrick S. Lawson
Highland Lending, Inc.
Phone  (407) 877-0093
Fax      (866) 476-1133

Offline mnkrouse

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Re:REFI NOO Penna
« Reply #14 on: January 19, 2006, 11:05:45 am »
Patrick,

Thanks for response.

I just talked w/ my Aegis rep and he said that he does not have any programs available for those parameters.

Quote
I have been looking for a lender that can do 100% LTV, N/O/O, 4 unit, Stated, Cash out.  640 mid

Ben...you haven't answered the question yet
« Last Edit: January 19, 2006, 11:08:35 am by mnkrouse »

 




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