Broker Outpost Mortgage Forums
Home | Recent Discussions | Register | Login | Mortgage Broker Directory | Mortgage Reference Library
 All Forums
 Mortgage Brokers
 Mortgage Brokers
 Search for: Hi-Rise Condo Purchase, California.
Related tags: [, , ]
Author Previous Topic  |  Next Topic  
astropup

17 Posts
Posted - 01/29/2008 :  2:45:53 PM
Two opportunities here:


The first involves a purchase on a high-rise condo in San Diego. Purchase price is $825,000. Borrower put 10% down a year ago as the building was still under construction. Building is finished and is now in final permitting stages. Borrower is required to close by the end of February. Originally had pre-approval from Wells Fargo but they pulled back under the current credit-tightening atmosphere.

The key to this loan is that the borrower is a Real Estate Investor (as well as the owner of an Insurance Company) and owns more than 10 properties.

We need to go stated income and this is a 2nd Home. FICO is 720+.

Increased down payment is a possibility.

The second scenario is almost identical, except the purchase price is $958,000. Same building, same down, different borrower but also a Real Estate Investor with over 10 properties, also stated income, 2nd home and good FICOs.
  Previous Topic  |  Next Topic  
 Related Topics


Looking for lender to do 75% ltv purchase in NV (Members)
Hello, I have a purchase loan in Las Vegas, NV. Here is a loan scenario: Purchase price $1,577,000 Loan amount $1,182,000 LTV CLTV: 75% Fico: 707 Brand new single family, owner occ. Full d ...
http://forum.brokeroutpost.com/loans/forum/2/233336.htm(Replies: 0)
Related tags: [, , ]

PURCHASE HELP (Members)
This client will lose his purchase contract this week, need your help ! Three back-up offers, lost our lender to the Market Monster on Monday ! Here is what we have: Great DTI, 35 ...
http://forum.brokeroutpost.com/loans/forum/2/233274.htm(Replies: 0)
Related tags: []

Purchase of Mobile Home-No land (Members)
I have a client who wants to purchase a mobile home(land not owned) from his mother. He is in the armed forces now(level E5) and is stationed in Indiana. The home is in Florida and it will be his p ...
http://forum.brokeroutpost.com/loans/forum/2/233189.htm(Replies: 1)
Related tags: [, , , ]
Recent Loan Officer Chat © Copyright 2006,2007 - Broker Outpost LLC. All Rights Reserved. Subscribe to the Forum Topics via RSS Go To Top Of Page
This page was generated in 0.48 seconds.
Mortgage Brokers | Mortgage Newsletter | | Sponsors | Advertising Info | Reference | Snitz Forums 2000