Sub-prime purchase

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cstlmtg

125 Posts

Posted - 01/14/2008 : 11:27:40 AM

Does anyone offer a loan program for an 80% LTV purchase of a primary residence, full doc, self employed in NC. The purchase price is $365K, the loan amount is $292,000. 520 credit score.

tanked06

52 Posts

Posted - 01/14/2008 : 11:42:38 AM

Wow 80% Full Doc...must be nice...Equifirst, Chase B/C, M&I Lending, US Bank, Accredited, BB&T Alt Lending

Charliecogs at C

12 Posts

Posted - 01/14/2008 : 11:53:00 AM

As the other folks have already mentioned, Chase B/C can do this deal. If you do not already have a Chase B/C rep., please give me a call.

Charlie Coglitore
Account Executive
Chase Home Finance
300 Tice Blvd, 3rd Floor
Woodcliff Lake, NJ 07677
(P) 800-435-9922 x2533
(F) 201-299-2699
(E) Charlie.F.coglitore@chase.com

lenderep

2704 Posts

Posted - 01/14/2008 : 3:04:15 PM

I can as well, what is your credit score?

re_manager

2637 Posts

Posted - 01/14/2008 : 3:05:36 PM

We can do this with 620+ FICO. We can do this on our 3-Year Fixed Hybrid:

6.90% (PAR), 7.25% (1.0% rebate), 7.50% (2.0% rebate)

This loan also has the option of fixing the rate for the life of the loan at any time from the end of the 3rd year to the 7th for a one time $200 fee.

Please let me know if this works for your client.

Thanks

Phil Koch
Wholesale Mortgage Banking Leader
Wachovia, 4th largest Bank in US
philip.koch@wachovia.com
Cell: 661-343-3556
Fax: 800-307-7614
*This is not a commitment to lend. Rates and terms are subjected to change without notice.

Accredited

256 Posts

Posted - 01/15/2008 : 04:33:34 AM

We have lots of mortgage programs for this customer.

Please give me a call,

Ksechrest@EQUIFI

1827 Posts

Posted - 01/15/2008 : 07:58:55 AM

yes

mdiclemente

1026 Posts

Posted - 01/15/2008 : 08:21:46 AM

Why not see if you can get an expanding approval? if you can qual it subprime, i'm sure you should get an EAIII at the worst

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