Hi:
I am refinancing a triplex NOO, rowhouse in Phila, PA, credit score is 635ish, no reserves, NINA,
what pitfalls can I expect?
What are the parameters that you are looking for? (LTV, C/O, etc.)
Sorry, should appraise at 200K, current mortgage is 115K need to C/O as much as possible
What is the purpose, long term goal for the property, etc…?
Is this money purchasing a another property? Rehab for the subject? Personal cash reasons?
Due to the reduced LTV, there are a lot of low-interest (3.5% or less) options without going into the score. More or less, its a no-score deal with the benefit of a qualifying 680 or better. The deal is eligible because of the reduced LTV. Cashout would even be available.
MDHAAS, you sure opened that can of worms… And the starving money sharks got the scent and begin to circle
mid fico 602