Anyone? I have a 750 FICO.
that is not happening…i have the exact same situation 740 fico can only get 75-80 % ltv stated n/o/o
That sucks. Is this specific to the Option ARM or is this just in general any loans? There’s go to be some investor friendly lenders out there, but I’m sure that would come at an expense, as in higher rates. Anyone else?
You not going to get an option ARM with that kind of LTV N/O/O and Stated…There are 100% stated N/O/O products out there that start at 620 FICO…But not the Option ARM.
So what would be the max LTV for this scenario? And what lender should I contact? I really need an Option ARM product for this because I want my payments as low as possible for the first several years as I rent out as it gains market value. Don’t care too much about neg am.
I’m looking at 80% CLTV stated and 90% CLTV Full Doc.
Whats the loan amount? Whats the appraised value? Stated is hard to get anything above 70%. If you go ALTdoc you may be able to get 75%
Indymac will do it as stated in the last post up to $400K
yeah only at 60% though
According to their quick pricer, they will do only 70% for investment property…
But they will go 80% CLTV…70% OPTION ARM and then a 2nd.
You’re right. But it seems that the start rate is 2% for investment property. I was hoping to find a 1% start rate. I really don’t care about the extra deferred interest of the 1% start rate. What I like about IndyMac is they have an option to have the start rate fixed for 5 years, but, I’d REALLY like to find a 1% start rate.
As far as I am aware that product no longer exists.