need 100% noo stated

I need a lender that will still do 100% on NOO stated with a 683 mid.This property is in Ohio. this is a property that I am buying at 80% of ARV so hard money will not work. The lender that I have been using has changed thier programs and I have a contract on a property now and need to close.

You may have a couple choices here.

  1. There are hmls that go that high on the ltv. Two that I’m thinking of. I don’t think either have changed their guidelines but will check tomorrow and let you know.

Why were looking to use hml?
Does the property need a lot of work and/or you need rehab funds? Or possibly because they use real value for ltv meaning no down payment?

  1. If you want to use traditional lenders there are still several that will do 100% financing. There are specific questions that need to be addressed before determining if you qualify for these loans.

I strongly suggest contacting a mortgage consultant that specializes in investment loans

I agree. I just did a stated no doc cash-out re-fi on a property. My mort. broker had to fight and claw his way into getting the deal but he got it done and to boot with a 7% interest rate on an investment property. That is not a typo.


Hi Nate,

Just curious…

was this a stated or a no doc?

Big difference…stated requires a 2 year history of being self employed with the same company or 2 years of w2 in the same industry.

Which lender did the loan for ya?

Stated Ben. You know my situation (I think) but yeah the broker got 2 re-fi’s done for me. Both went thru First Horizon. Got a letter from my CPA that stated I had 2 years tax returns for my business, used my 401K as 6 months reserves, and with good credit we got them done. Fees were reasonable for both the broker and title company. Lender was generous with the rates at 7% on the cash-out and 7.6% on the simple re-fi. Hell I can’t get 7% going full doc at my local banks.