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profin2
27 Posts |
 Posted - 05/15/2008 : 12:06:40 PM
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| 777 and 792 middle credit scores. Stated income. Owns lot free and clear. Purchased 9/07 for $53,000.00. $250,000.00 cost to construct. $378,000.00 final appraised value. $267,000.00 loan amount to cover closing costs. 71% LTV off final appraised value. Second home. |
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lukeallison
1348 Posts |
Posted - 05/15/2008 : 12:39:40 PM
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I would do what I could to go Full Doc on that file. Not many options left for Stated Construction. If you go Full Doc you could get better DTI exceptions - especially at that credit score.
If not, refi their primary and see if there is enough equity to pay for the construction outright. |
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