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Author Topic: 100% financing  (Read 16129 times)

Offline alleekirk

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100% financing
« on: May 23, 2007, 11:08:19 am »
I am an investor in NC.  I'm looking for investor mortgages for 100%.  My credit score is above 700.  Are there still mortgages out there for 100%?  Its not that I don't have any money down, I just don't want to put any down if i don't have too.

Offline Investment Loans

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Re: 100% financing
« Reply #1 on: May 23, 2007, 07:05:57 pm »
Yes there are 100% options but the guidelines have tightened up over the last month.

Full doc loans will have ok rates while reduced doc would be probably in the double digits.

What has your mortgage consultant advised you so far?
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Offline lassitermortgage

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Re: 100% financing
« Reply #2 on: May 24, 2007, 10:55:38 am »
Yes, 100% loans are still available for credit scores of 680+. 720 is the range where it's easiest to get 100% for investors now.

Good luck!

Susan Lassiter-Lyons



« Last Edit: May 24, 2007, 11:15:14 am by christopher w »

Offline REI4ROI

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Re: 100% financing
« Reply #3 on: May 24, 2007, 02:24:04 pm »
Although the conventional market's appetite for these types of loans continues to diminish, there are additional 100% NOO financing options for those that can muster seller support (in the way of a seller second). 

Regards,

Scott Miller
RE Investment Advisor
Weichert Realtors
[email protected]

Offline hammertime

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Re: 100% financing
« Reply #4 on: May 29, 2007, 09:20:11 pm »
In other words you need to become creative.

Offline californiagrape

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Re: 100% financing
« Reply #5 on: May 29, 2007, 09:55:53 pm »
  www.phoenix-funding.com 

: they will facilitate 100% NOO for a full doc loan or 90% for a stated.
« Last Edit: May 29, 2007, 10:11:51 pm by Mdhaas »

Offline doston

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Re: 100% financing
« Reply #6 on: May 30, 2007, 10:50:55 am »
As was stated previously, there are creative ways to get 100% financing, one strategy involves lowering the lenders risk and giving him more than he asks for......
100% Financing Secrets Finally Revealed
These methods work in the real world.
Click Here for the Free Report

Offline MsClosedLoans

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Re: 100% financing
« Reply #7 on: June 04, 2007, 01:40:01 pm »
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« Last Edit: June 06, 2007, 10:36:02 am by MsClosedLoans »
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Offline REI4ROI

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Re: 100% financing
« Reply #8 on: June 04, 2007, 01:45:04 pm »
100% NOO financing with a mid FICO of 600? 

This sounds a bit Rip Van Winkle---are you sure? 

Regards,

Scott Miller

There's still 100% financing down to 525 credit scores for owner occupied & 600 for non owner occupied with certain banks. The only problem with receiving the financing is that you must go full doc. (tax returns) but your debt ratio can be as high as 60%.
RE Investment Advisor
Weichert Realtors
[email protected]

Offline MsClosedLoans

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Re: 100% financing
« Reply #9 on: June 04, 2007, 01:51:27 pm »
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« Last Edit: June 06, 2007, 10:36:20 am by MsClosedLoans »
Preferred Choice Mortgage
"Mortgage Consultant/ Loan Officer"
Office:    (703) 659-0991
[email protected]

Offline Investment Loans

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Re: 100% financing
« Reply #10 on: June 04, 2007, 01:56:17 pm »
The product is more than likely a hard money (or similiar) loan or a nonprime loan that allows for seller financing.

Not possible as full financing from a conventional wholesale lender.
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 MsClosedLoans

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Re: 100% financing
« Reply #11 on: June 04, 2007, 02:02:10 pm »
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« Last Edit: June 06, 2007, 10:36:38 am by MsClosedLoans »
Preferred Choice Mortgage
"Mortgage Consultant/ Loan Officer"
Office:    (703) 659-0991
[email protected]

Offline Investment Loans

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Re: 100% financing
« Reply #12 on: June 04, 2007, 02:04:29 pm »
On investment loans there are no 80/20 products offered in full  by lenders for clients with a 620 score.

Please explain further so we know exactly how the loan in structured.
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 MsClosedLoans

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Re: 100% financing
« Reply #13 on: June 04, 2007, 02:06:50 pm »
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« Last Edit: June 06, 2007, 10:36:52 am by MsClosedLoans »
Preferred Choice Mortgage
"Mortgage Consultant/ Loan Officer"
Office:    (703) 659-0991
[email protected]

Offline Investment Loans

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Re: 100% financing
« Reply #14 on: June 04, 2007, 02:08:44 pm »
You're probably looking at old guidelines

Make sure there is a recent date, at least past April/May this year.


Many conduit lenders fail to change their guidelines on the websites.  Take for example...Phoenix Funding
« Last Edit: June 04, 2007, 02:10:38 pm by Investment Loans »
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

 




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