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ILongman
100 Posts |
 Posted - 05/29/2008 : 09:51:25 AM
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I can't seem to find a lender for this. I have checked with Wachovia, Chase, Citi, CW, ING, Wellington and US bank.
Here are the details:
Purchase price $690K vauled at $730k
Property located in Hollywood hills CA
730 mid fico
Primary residence, 20% down 30k in reserves after down payment
Borrower is a buisness owner and he makes over 250k a year but can't show it. His current house is being rented and we can get a rental agreement, and he can provide bank statements.
Anything ideas?
Thanks
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lukeallison
1391 Posts |
Posted - 05/29/2008 : 10:26:35 AM
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| Call me about this. I have a suggestion for you. |
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lukeallison
1391 Posts |
Posted - 05/29/2008 : 10:27:06 AM
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| Call me about this. I have a suggestion for you. |
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Travis Du Bois
589 Posts |
Posted - 05/29/2008 : 11:51:11 AM
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70% max with me.
http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=218944
e-mail me if it is an option.
Thanks
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mgr2602
133 Posts |
Posted - 05/29/2008 : 12:12:28 PM
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FYI my Accredited Rep Alan Klimek 919-605-9900 was in the office while I was reading your post.
He said Personal Bank Statements 85% max.
Business bank Statements 75% max.
Stated 75%
But the rates are high. 85% personal bank statements = 9.625% with no ysp paid on either of those products and .5% discount paid to lender...OUCH!
You have to make all of your money on the front end! |
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