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dmj30064
236 Posts |
 Posted - 02/28/2008 : 3:48:10 PM
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I am working with a client looking to refinance her second mortgage only. The loan amount will be $440k, we are seeking a lender that still offers SIVA/SISA 2nd mortgages to 89.99% CLTV. The scenario is below:
Appraised Value: 1.2 Million
Loan amount: 440k
LTV: 54
CLTV: 89.99
occupancy: Owner Occupied
Loan Purpose: refi c/out
Loan Type: HELOC
State: ga
Doc Type: SIVA/SISA
Middle Score: 704
Debt Ratio: 45
Seasoning: 24+ months
Mortgage Lates: none
Foreclosure: none
Bankruptcy: none
Tradelines: 10 or more
Please call 678-395-8403 or email djefferson@approvequities.com if this is something you can do. Thanks in advance!! |
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jfauls
36 Posts |
Posted - 02/29/2008 : 10:28:33 AM
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| e loan |
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dmj30064
236 Posts |
Posted - 02/29/2008 : 11:07:27 AM
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Thanks I will try them.
quote:
Originally posted by jfauls
e loan
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dmj30064
236 Posts |
Posted - 02/29/2008 : 11:15:18 AM
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looks like eloan has suspended submissions for a couple weeks, they are supposedly realigning to reflect current market conditions. I know RBC Centura Bank still offers stated 2nd HELOC, but they have a weird guideline that states the borrower can only own 3 homes including primary.
Any other suggestions? |
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jfauls
36 Posts |
Posted - 02/29/2008 : 11:26:44 AM
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| I dont think RBC Centura does wholesals anymore anyway. That loan will be a hard one. If you wanted to refer your client to retail I think Bank of America has a program that would work. GL |
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dmj30064
236 Posts |
Posted - 02/29/2008 : 11:39:44 AM
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I had it priced out at 6.5% HELOC with them, the rep was in our office yesterday. That's when we discovered that guideline about owning only 3 properties financed.
quote:
Originally posted by jfauls
I dont think RBC Centura does wholesals anymore anyway. That loan will be a hard one. If you wanted to refer your client to retail I think Bank of America has a program that would work. GL
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taylorms
188 Posts |
Posted - 02/29/2008 : 11:52:59 AM
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Dijon,
Do you have contact info for RBC Centura? |
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dmj30064
236 Posts |
Posted - 02/29/2008 : 11:56:57 AM
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My AE is Alan J. Silverman @ 404-495-6423 or Gay Coon(Dn't make fun of the name)@ 404-495-6413. Hope this helps you get paid!!
quote:
Originally posted by taylorms
Dijon,
Do you have contact info for RBC Centura?
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