Subprime?

Author

Previous Topic | Next Topic

jaronparkin

328 Posts

Posted - 06/06/2008 : 4:46:17 PM

Hi guys!

Looking for a home for this loan.

551 FICO
Full Doc (13% DTI)(401k with solid reserves)
2nd home
SFR (Iowa property)
Cash out
100k loan amount
Home is currently free and clear
0X30 Mortgage history on primary residence(recent lates on credit cards causing the 551 FICO)

Any help would be appreciated, thanks guys.

jaronparkin

328 Posts

Posted - 06/09/2008 : 4:52:58 PM

bump

bestbet123

1577 Posts

Posted - 06/09/2008 : 4:59:45 PM

what does bump mean anyway?????

sfentress2

246 Posts

Posted - 06/09/2008 : 5:05:34 PM

What LTV?

jaronparkin

328 Posts

Posted - 06/09/2008 : 5:07:11 PM

quote:
Originally posted by sfentress2

What LTV?

70%

sfentress2

246 Posts

Posted - 06/09/2008 : 5:16:35 PM

Honestly I would try a manual FHA with that LTV as long as the credit cards are now current. If not I am not sure of alot of subprime lenders that lend in Iowa. TBW and Assurity will do manual FHAs down to a 530 score

jaronparkin

328 Posts

Posted - 06/09/2008 : 5:17:45 PM

quote:
Originally posted by sfentress2

Honestly I would try a manual FHA with that LTV as long as the credit cards are now current. If not I am not sure of alot of subprime lenders that lend in Iowa. TBW and Assurity will do manual FHAs down to a 530 score

It's a 2nd home, so FHA is out. Thanks for the help anyway. :-)

jaronparkin

328 Posts

Posted - 06/09/2008 : 5:20:48 PM