Need a refi/cashout, noo, INT. ONLY , 95% cltv,711 fico, no ratio loan. Property is located in Georgia.
When you find a lender for this one. Please let me know. Being NOO and No Ratio thats going to be tough.
not sure but I would try countrywide and greenpoint, maybe Novastar. I don’t think I can do Georgia but if you private email meI can check.
Novastar doesnt have an option arm
better checktheir site and call your rep!!! ;D
you sure about that?
I think a 95% option arm will be hard to find, if not impossible. The reason for this is that the potential negative amortization could move the LTV to well over 100%.
When I got a heloc a few months back, the lender used the worst case negative amortization figure for my first mortgage balance instead of using the actual balance. This was done even though I have been making the full interest payment to avoid negative amortization.
They are usually insured 110% at least . There are 100% OO option arms out there . I have 2 banks I use for this. But 95% NOO at no ratio is really tough. If it was full doc I know it is possible.
MANY (World Savings) Option ARMS allow115% neg am
Novastar and WorldSavings are two different banks Novastar doesnt have an option arm.
Your e-mail is hidden, e-mail me.
I agree- I don’t think you will find this product. I don’t know of any lenders who will go above 90% NOO regardless of doc type (full or stated or no ratio).
World or anybody will do 90% and allow a second of 5%, which National city will do 1 day after closing the first. Novastar does have a new non-prime option Arm not sure of the parameters because it’s new and before you say they don’t look at there website and stop pi–ing me off DF 8) 8) 8)
Calm down piker. National City will not do the second reason being it is NOO, and most banks that do NOO 2nd’s will only do it if it is full doc . THANK YOU!!!
i DON’T KNOW WHAT PIKER MEANS BUT i WAS TALKING ABOUT THE nOVASTAR THINK YOU ARE OBVIOUSLY ABOUT DEFENDING YOUR LITTLE DOMAIN THATi APPARENTLY HAVE UNWITTINGLY ENTERED SO COOL BYE
Watch the movie " Boiler Room" Great movie whether your into mortgage broker or stock broker.