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jya17
38 Posts |
 Posted - 10/03/2007 : 6:09:25 PM
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I HAVE A CLIENT THAT OWNS 4 PROPERTIES AND WANTS TO REFI ALL OF THEM. THERE IS PLENTY OF EQUITY IN EACH!!!! I WOULD LIKE TO SEND THEM ALL TO THE SAME BANK IF U CAN WORK THEM. THIS IS THE DEAL
SIVA
676 FICO
WAGE-EARNER
THERE IS A 1X30 DATED 6/07 THAT I'M TRYING TO REMOVE (IF U CAN TAKE THE LATE EVEN BETTER I'LL SEND IN DEALS ASAP, IF NOT WE'LL HAVE TO WAIT FOR REMOVAL)
HE HAS 4 PROPERTIES (3PROPERTIES ARE 4UNITS EACH, AND THE LAST ONE IS A 2UNIT)
HERE'S THE BREAKDOWN
1ST PRPTY- 4UNITS-NON OWNER // LOAN NEEDED $465K, 65%CLTV
2ND PRPTY- 4UNITS- NON OWNER// LOAN NEEDED $585K, 75%CLTV
3RD PRPTY- 2UNITS- NON OWNER// LOAN NEEDED 417K // 70%CLTV
4TH PRPTY- 4UNITS-OWNER OCCUPIED// LOAN NEEDED $630K// 80%CLTV
CLIENT IS JUST WAITING FOR MY OK TO OPEN ESCROW.....LOOKING FOR AN INTEREST ONLY FIXED FOR 5 OR 30YR YRS AT PAR!!!!
IF YOU CAN DO ALL/ANY OF THESE, SEND YOUR INFO ALONG W/ UR COMPANY'S INFO.
THANK YOU:) |
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re_manager
2637 Posts |
Posted - 10/03/2007 : 6:24:35 PM
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I can do at least 3 of them and maybe more. All of them are maxed at 70% LTV. I am not worried about the 1x30.
Here is pricing for the N/O/O, 3-Year Fixed with 10 year of I/O
7.80% (0.5% cost), 8.15% (0.5% rebate)
For 3-Year Fixed with 10 years of I/O, O/O:
7.75% (PAR)
Please let me know if that works for your client.
Thanks
Phil Koch
Wholesale Mortgage Banking Leader
Wachovia, 4th largest Bank in US
pkoch944@worldsavings.com
Cell: 661-343-3556
Fax: 800-307-7614
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gregvflores
649 Posts |
Posted - 10/03/2007 : 6:29:52 PM
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| That Wachovia offer sounds pretty good. We would have to have the 1 x 30 removed. Contact me if you want to discuss further, and is this rate and term or cash out? No cash out on the 4-units on our programs, so how about your's, Phil? Can you Wach-ovia these files through to funding and give cash out? Don't let this LO Wach-ovia you, now, you hear! |
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jya17
38 Posts |
Posted - 10/03/2007 : 6:50:57 PM
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| All these loans are rate& term:) |
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jya17
38 Posts |
Posted - 10/03/2007 : 6:53:48 PM
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| Hey Phil, can we go up to 80%cltv on his owner-occupied property (the 4unit one)???? |
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re_manager
2637 Posts |
Posted - 10/03/2007 : 9:18:00 PM
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Hi Joanne... we've got to stop meeting like this. People will talk  . The 4-plex will be limited to 70% unfortunately.
Thanks
Phil Koch
Wholesale Mortgage Banking Leader
Wachovia, 4th Largest Bank in US
pkoch944@worldsavings.com
Cell: 661-343-3556
Fax: 800-307-7614 |
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re_manager
2637 Posts |
Posted - 10/03/2007 : 9:23:36 PM
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Greg-
We can do cash-out on these but if it is a large amount of dough ($100,000+) then they will probably limit to 65%. These deals will come down to the real value of the property for us. I am planning to check it closely to make sure we will have no surprises.
Thanks
Phil Koch
Wholesale Mortgage Banking Leader
Wachovia, 4th Largest Bank in US
pkoch944@worldsavings.com
Cell: 661-343-3556
Fax: 800-307-7614 |
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re_manager
2637 Posts |
Posted - 10/03/2007 : 9:28:21 PM
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Hey Greg, At Wachovia we Wach-ovia your money!
Phil Koch
Wholesale Mortgage Banking Leader
Wachovia, 4th Largest Bank in US
pkoch944@worldsavings.com
Cell: 661-343-3556
Fax: 800-307-7614
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