scottsent
6 Posts |
 Posted - 04/08/2008 : 8:45:47 PM
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I need a wholesale lender that can fund a loan on an investment property.
Here's the scenario.
Client has 728 Mid Fico, a car loan, can go full doc, makes $40K a year and I've verified income, assets, credit and employment.
He has enough funds to put 5% down on O/O and 10% on Non-O/O.
My client is buying 2 homes - one owner occupied and one non-o/o.
He's at 58% DTI if we're looking at both properties together.
His brother was going to live in the non o/o and pay rent.
Both properties are at 100K and I was told by another wholesale lender I could count the rental income.
3 weeks later I learned he has to have 2 years LANDLORD experience!
He's only slightly above the DTI threshold of 50%. Are there any lenders that can help me out with this investment property and getting my client's DTI under 50%?
Please email me at scott@sentrealty.com with some of your loan program info.
Scott
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