106% Financing for Non Owne Occ?

Can anyone kindly recommend some lenders who do these loans?

not going to happen…What are you trying to accomplish…you may be able to get a rehab loan.

I hear ya. I dont know why anyone would even want such a loan…idiot even has to go stated.

But that being said its for a fellow workers prospect. It is a Purchase, no rehab or anything

Thanks for the feedback!

Depending on credit/job situation…he can get a 100% purchase on a NOO with 3% towards seller concessions or he can get a 90% with a 10% seller carryback and 6% seller concessions…if that helps you. You can look at it as a 103% loan, but that 3% goes towards closing costs. ???


I have to echo Patrick;

not going to happen…

It is already getting harder to qualify for high LTV (100+) programs for O/O properties.

There have been several posts recently on the High LTV subject.

Good Luck!


Can you recommend a lender other than homecomings that will do 100% NOO. Thanks in advance.


What are the parameters? ( credit, income, assets, etc?)


Nothing written in stone at this point, but I always like to learn about new lenders and products that are offered that I may not be aware of. I use homecomings for my 100% NOO right now, but they require the documentation to be full doc. Thank you for the response.

Southstar, Aurora - 100% 1 loan full doc

Nations Home Lending, America Home Key - 100% 80/20 full doc or stated

Good luck. 8)

And Mike,

If its full doc, there is 100% financing on a NOO with 6% seller concessions. That would technically be 106% financing if you look at it like that, but that 6% goes towards closing costs and prepaids.


Thanks for the information. I thought that Aurora had done away with the 100% NOO in February.

They did away with the 100% 80/20, now they have 100% 1 loan. Someones rep wasn’t doing their job very well. :stuck_out_tongue: