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closer31
267 Posts |
 Posted - 03/30/2008 : 10:23:39 PM
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| Loan Amount is about $580k with a 803 fico score and he wants cash out to pay off his credit cards. Can he do anything about this? I have someone who will give me a good rate @ 85% with the 5% value cut but I need 90%. I appreciate the help you guys :). |
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EquitySmart
1117 Posts |
Posted - 03/30/2008 : 10:34:54 PM
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| Perhaps it might work as an FHA loan (with the new limits)? FHA does not have declining markets and the monthly MI would be cheaper with FHA than conventional anyways - you should have no trouble getting AUS approval with that credit score... |
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closer31
267 Posts |
Posted - 03/31/2008 : 11:16:57 AM
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| thx buddy. FHA has a big hit though for new conforming loan amounts. |
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www.johnreiher.c
497 Posts |
Posted - 03/31/2008 : 11:21:30 AM
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Can you go FHA. if so, I can get you 85% cash out rate of 6.125 <.375>, 30 year fixed, 0 prepay. or 6.5% <.875>
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EquitySmart
1117 Posts |
Posted - 03/31/2008 : 11:22:10 AM
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| Yes, there is a big hit for FHA with higher loan amounts but this may still be a comparable rate (if not better) than traditional jumbo pricing... |
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closer31
267 Posts |
Posted - 03/31/2008 : 11:24:06 AM
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| John, I need 90% LTV with cash not 85%. |
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closer31
267 Posts |
Posted - 03/31/2008 : 1:08:05 PM
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| thx though |
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lenderep
2702 Posts |
Posted - 03/31/2008 : 1:22:33 PM
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| I can help you out with a combo loan if that would work....e-mail me over the zip code and I will price out for you....thanks |
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closer31
267 Posts |
Posted - 03/31/2008 : 2:52:31 PM
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| Please email me back .thanks! |
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www.johnreiher.c
497 Posts |
Posted - 03/31/2008 : 3:33:28 PM
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my jumbo FHA is limited to 85% cash out. and 95% purchase/R&T.
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closer31
267 Posts |
Posted - 04/01/2008 : 2:44:42 PM
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| bla I know FHA will work but that's it... |
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actionjackson
1109 Posts |
Posted - 04/01/2008 : 3:11:29 PM
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knowing the county on this one will help..
Jason J. Miles
Cornerstone Bancor Mortgage Corp
1-866-WE-LEND-U/1-631-225-7096
1-800-538-0794/E-FAX
1-631-943-9807/1-631-991-1665/CELLS
jason@cmbank.net
www.cmbank.net |
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closer31
267 Posts |
Posted - 04/01/2008 : 3:15:58 PM
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| Jason, what do you mean by Action Jackson? Is it for Stephen Jackson? |
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closer31
267 Posts |
Posted - 04/04/2008 : 1:11:08 PM
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