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RRS
23 Posts |
 Posted - 04/30/2008 : 10:06:41 AM
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Borrower has descent credit and own free and clear the land. He is self employed and wants to build a house. He'll be using the land equity as down payment... LTV will be 80% or less.
Does anybody knows about a lender offering this type of loan? |
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profin2
27 Posts |
Posted - 05/02/2008 : 10:09:46 AM
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| If you find a lender to do this let me know. I have like 3 of them |
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mortgagemoneyfas
363 Posts |
Posted - 05/02/2008 : 10:34:08 AM
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| Nomad |
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mortgagemoneyfas
363 Posts |
Posted - 05/02/2008 : 11:52:33 AM
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| OOPPSS! Normandy |
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lukeallison
1323 Posts |
Posted - 05/02/2008 : 12:00:14 PM
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| I just ran a very similar loan through our system yesterday and because of credit and LTV (80%) I got a verbal only response and no need to verify income. You need to look for stuff like that on Full Doc files and see what can get through. Anyway, you can try that on our system and see what DU/LP response you get. |
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schultz.fir
892 Posts |
Posted - 05/02/2008 : 1:34:10 PM
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| I may have a lender, but he would have to open an LLC & I'm not sure if they'll do FL. They are a local consortium here in NJ, so I'll have to give a call. Email me your contact info & I'll pass it along. |
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