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seaRick1
333 Posts |
 Posted - 06/09/2008 : 08:43:30 AM
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I'm trying to find some of the best pricing on this file.
State of WA
$189K loan amount
656 FICO
Full Doc
67% LTV
Owner Occupied
SFR
FTHB
Husband has a rolling 60, 90 day late on credit card back in 12/07 - 01/08. Card is now paid off in full. Down payment funds are seasoned - from a trust account in husband's name. They want a 30 yr fixed. The FICO pricing adjustment (656) is making it tough on me a bit.
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lukeallison
1409 Posts |
Posted - 06/09/2008 : 09:05:39 AM
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| Run it FHA with an LOX for the late credit card payments. You should not have to worry about a pricing hit for the rate either. |
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seaRick1
333 Posts |
Posted - 06/09/2008 : 09:42:03 AM
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| Isn't there still MIP on FHA - even at 67% LTV? |
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EquitySmart
1240 Posts |
Posted - 06/09/2008 : 11:00:17 AM
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quote:
Originally posted by seaRick1
Isn't there still MIP on FHA - even at 67% LTV?
You will still have to pay upfront MIP on all FHA loans, regardless of loan length or LTV at closing. You will still have 5 years of 0.50% monthly MI payments for 30 year fixed. If the loan is 15 year fixed, then there would be no monthly MI payments for this LTV |
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davidstone
55 Posts |
Posted - 06/09/2008 : 11:12:18 AM
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| 6.125 @ par. if this sounds good give me a call. |
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