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AlexLocklear85
136 Posts |
 Posted - 05/21/2008 : 3:25:09 PM
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I got someone looking to refinance. Self employed/ No doc. Name is on the deed, but not on the mortgage (Dad is on Mortgage). Said he has a 690 credit score. 1st mortgage is at 7.25% and 2nd is at 12%. What can I do if anything?
Thanks |
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mantixmortgage
2505 Posts |
Posted - 05/21/2008 : 3:31:40 PM
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| you can actually run his credit for starters |
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AlexLocklear85
136 Posts |
Posted - 05/21/2008 : 3:32:25 PM
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| well he wants to know if it's "worth running his credit". |
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mganovsky
1415 Posts |
Posted - 05/21/2008 : 3:49:51 PM
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| 1st of all you will not find "no Doc' any more period. No Doc means no employment and no employment means NO LOAN. end of story move on to the next one. |
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mantixmortgage
2505 Posts |
Posted - 05/21/2008 : 3:53:08 PM
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| stated is possible to 85% |
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AlexLocklear85
136 Posts |
Posted - 05/21/2008 : 4:06:10 PM
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Can provide bank statements but not tax returns; 80/20 loan
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AK__47
527 Posts |
Posted - 05/21/2008 : 4:08:55 PM
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quote:
Originally posted by AlexLocklear85
Can provide bank statements but not tax returns; 80/20 loan
not getting done |
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AGreene00
2577 Posts |
Posted - 05/21/2008 : 4:14:39 PM
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quote:
Originally posted by AlexLocklear85
Can provide bank statements but not tax returns; 80/20 loan
You need a 100% loan stated? You been out of the business for 2 years? You'd be lucky as hell to get this done at 85%. |
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velecico
2893 Posts |
Posted - 05/21/2008 : 4:14:52 PM
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You can still do NO DOC , give me a call if you have over a 660 score |
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AlexLocklear85
136 Posts |
Posted - 05/21/2008 : 4:17:44 PM
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| it's a refi. Didnt know the equity. |
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AlexLocklear85
136 Posts |
Posted - 05/21/2008 : 5:49:26 PM
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| 187000 purchase...said it was worth around 230000 |
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