Purchase CA, NOO, 4 Units ,SE, seller carry back

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loan800

11 Posts

Posted - 02/28/2008 : 11:46:03 PM

Applicant is self-employed. 710 mid fico. Wants to purchase in Orange County CA, NOO, Four Plex with SP $745K, has been offered a $596,000 loan at 80.00 % CLTV - loan requiring 20% down. However, wants to do a 65% 1st at $484,250 with a seller carry back loan of $111,750 which is 15% LTV. The total CLTV is still 80.00 %. Good Income and Good Assts and Good Credit. Any lenders that can do the SIVA deal?
Rich

BigFire

2962 Posts

Posted - 02/29/2008 : 07:11:09 AM

70% max LTV - SIVA

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