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loantovalue8
35 Posts |
 Posted - 09/10/2007 : 12:53:51 PM
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I have a borrower: retired, 53% dti w/ escrows and 47 dti w/no escrow. 667 middle score, 55%LTV, Full Doc (of course) in Chicago, IL. Good payment history. Let me know! Thank you
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AGreene00
3064 Posts |
Posted - 09/10/2007 : 1:17:50 PM
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| Run it full doc, you should get an approval with that LTV. They will base it on the 53% DTI whether they elect to escrow on the loan or not. |
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Mortgage Man
48 Posts |
Posted - 09/10/2007 : 1:26:36 PM
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| also, find out about their assets. this can be a very strong compensating factor for high dti deals. |
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lenderep
2704 Posts |
Posted - 09/10/2007 : 1:55:02 PM
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| I can do this with no reserve requirement. Shoot this over to bgary@bayrock.com or fax it to 866-695-1627. Thanks! |
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rainmand
5205 Posts |
Posted - 09/12/2007 : 8:45:09 PM
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| You'll also want to see how a Reverse Mortgage would work Victor. You can use www.reversemortgagecalculator.org for that purpose. |
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dennis@padda.com
198 Posts |
Posted - 09/12/2007 : 8:53:51 PM
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quote:
Originally posted by loantovalue8
I have a borrower: retired, 53% dti w/ escrows and 47 dti w/no escrow. 667 middle score, 55%LTV, Full Doc (of course) in Chicago, IL. Good payment history. Let me know! Thank you
Just run it DO, put in all the assets he has and you should get an Approved/Eligable or level 1. and just go with it. Forget about the AE's saying they can do it. Yes mostly like everyone can do it. Hell I can do it if you want to split the YSP and POINTS. LOL just kidding. Run it D/O and go for it man. Close close close. ABC |
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