My lease/purchase issues

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jgsparkles

139 Posts

Posted - 02/08/2008 : 08:38:50 AM

Okay, I am having issues with this one.

Borrower has a 632 mid score. I was approved through DU at 97% LTV but, at least with Homecomings, their limit is 95% based on the lease/purchase guidelines. At 97%, I was a Level I through MCM. I really do need that LTV.

It is full doc with a loan amount of $120,280 - appraised value $124,000. We have the copies of checks etc to prove funds down etc.

Does anyone know where I could get 97%????

Thanks.

lukeallison

1409 Posts

Posted - 02/08/2008 : 08:41:41 AM

FHA is your best bet.

idealwally

190 Posts

Posted - 02/08/2008 : 09:01:52 AM

Sounds fine to me. Be happy to look the deal over for you.

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