2nd Mortgage UT Please help

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cearle1

125 Posts

Posted - 03/20/2008 : 2:21:48 PM

Here are the details:

Type: Purchase
Occupancy: O/O
State: UT
Purchase Price 975,000
Loan amount-have 780,000 @ 80 ltv% with Suntrust.
DTI less than 40%

We are looking for a 10% 2nd for $97,500

Doc type is full. However borrower has less than 2 years self employment. Suntrust is doing the first, because they adhere strictly to Fannie Mae guidelines, but they cannot do the 2nd.

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