Does anyone know where to get one of these loans. I need a loan amount of 63% of value with good credit. I was wondering if anyone knows of a good co. to try?

Thanks Phil

employment history?

purchasem or cash out

Check this site out. They may can help you.

Many loan brokers can help you with these. Ask a few realitors you trust for names. NINA is a no income, no asset means your putting such a large down payment that if you default they can sell quick way below market and get their money back. Before the tightening that was about $125,000 down on a $500k loan. Now it might be closer to $200k. You’ll have to ask. I’m willing to bet it will depend mostly on how much the average home price has changed in the last year in your market and how many months of inventory are in your area. Low doc loans are currently available through Wells Fargo, US Bank, WaMu and even CountryWide. They all have their own weird mix of what low documentation means to them and their own requirements. Good luck. :biggrin

NINA investor loans are still available up to 90 LTV in some cases, but more info would need to be known to determine feasability/qualification.


Scott Miller


You’re leaving us hanging man. We need more info.

Do you have a 2 year history at the same employer or owning the same business?

Purchase or cash out?

As Scott noted, 90% may be possible.

Sorry for leaving you hanging I’ve been trying to find options for this property as well as working my business. To get to some of you questions I have been doing buiness in my LLC fo only 5 months or so.
I need to cashout. to pay off rehab costs only. I have learned in this quest of doing rehabs to have more than 1 exit strategy. I know I am at the mercy of someone for this deal but do not know which way to turn. So here is as much info as I can give

Purchased house cash
Rehabed with some cash and some credit
Started LLC June 1
I do construction and remodel through my LLC
The property is in my LLC
I can sell the property in a short amount of time but need the room on my credit to continue running my remodeling business need.

I don’t need 90% just 63%
And leave my original investment in the house for cash flow.
I wouldprefer to sell the property but am open to any suggestions.
And 1 question if my 2 years is problem what would my alternative be?

Without being able to verify that you have 2 years of running a business you’ll have to use a true no doc program. Meaning no employment, income, or assets listed on the application. Dont know of anyone wholesale lenders doing this for cash out and no seasoning on investments.

How long was the previous owner on title (or the person before the reo)? If over 18 months then there may be a commercial lender that can do this in the business name. What about using a hard money lender to get the cash out? If the loan amount is smaller, the higher costs may not be impact you that much.

well the previous owner was there for 7 years before. Andhard money is something I know very little about. Do you hae a hardmoney lender that would suit my situation?

Is the property currently rented?
If it is, a local bank’s community lending department might be able to put this together on a line of credit if the rent covers debt service coverage.
Titling properties in an LLC in today’s market usually forces you toward a commercial source.

Sent over an email so we can address commerical vs. hard money.