| Author |
Previous Topic | Next Topic |
|
takeastep
92 Posts |
 Posted - 03/26/2008 : 11:44:05 AM
|
Home is in Memphis, TN
Purchased 60 days ago.
It was a fixer upper, bank owned property, so purchase price was 32,500.
Home has been rehabbed and is rented.
It is free and clear
It is valued between 70,000-85,000.
What is the Max LTV going stated income, verified assets, non-owner, with a 700 score?
Issues are stated income, non-owner, seasoning, need to go off appraisal value not purchase price.
|
|
takeastep
92 Posts |
Posted - 03/26/2008 : 1:50:00 PM
|
bump
|
|
|
takeastep
92 Posts |
Posted - 03/28/2008 : 08:05:58 AM
|
bump
|
|
|
underwriterFL
12 Posts |
Posted - 03/28/2008 : 08:15:51 AM
|
| As a full doc loan, sure you could use the appraise value. But alt-a, most likely you are stuck with purchase price plus documented improvements. |
|
|
| |
Previous Topic | Next Topic |
|
|
|
Search for: 
