anyone using novastar as a lender? are they easier than others (like countrywide)? are they real picky? do they really look at things on their stated or no-doc loans? do they really check if your owner-occupied as long as they get paid?
orlando is hot!
Last year Novastar financed my best friend with no problems. They are (at least last year they were) easy to work with, full doc that is. No they didn’t check to see if the home was owner occupied.
My friend purchased a home in Port Arthur Texas and he lived in Houston. He thought he would be moving to that area but his company decided not to transfer him so his house basically stayed empty almost a year.
As long as the mortgage was met each month they didn’t seem to care, but by the same token he didn’t announce he wasn’t living in the house to Novastar.
Rlynne
They can be picky they only alow you to have 1-2 investment homes through them and you can only have 3 other NOO homes on your credit.
They would not be a good choice if you already own 5 homes because you would not beable to get approved with them.
I you are just starting out then it would not be a problem.