I am getting an investor loan right now through Wachovia. We are days away from closing. The grapevine is saying that they no longer do investor programs as of today, and won’t honor underwriting for loans that haven’t closed yet.
Has anyone else heard this?
I’d hate to lose this property because of this.
They did away with their stated and no ratio programs. They will honor loans currently locked through their current locks. no extensions will be granted. So just make sure that your loan closes before the lock expires and you will be fine.
Did they do away with stated income on owner/occupied loans or only investor loans?