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dmj30064
236 Posts |
 Posted - 06/12/2008 : 1:09:49 PM
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I am working with a borrower looking to buy a home in GA, he has a 702mid score looking to go stated income at 80%-85% LTV if possible. The only blemish on credit is a 1x30 mortgage late on a investment home he ownes(late occured The scenario is below:
Appraised Value:200000
Loan amount: 160000
LTV: 80
CLTV: 80
Occupancy: Second Home
Loan Purpose: Purchase
Loan Type: Conventional
State: GA
Doc Type: Stated Income
Middle Score: 702
Debt Ratio: 45
Seasoning: 24+ months RENT
Mortgage Lates: 1x30
Foreclosure: None
Bankruptcy: None
Tradelines: 7
BO if any lender out there that still does this, please point me in the right direction. 678-395-8403 or djefferson@approvequities.com. Thanks in advance!! |
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peter
4617 Posts |
Posted - 06/12/2008 : 1:43:00 PM
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HSBC will do up to 80% on jumbo SISA but need a min
FICO of 720. Someone on the BO here mentioned that
CitiMortgage can do at a lower score. You might
want to check with your Citi rep.
Others go up to 75% SISA only, but all will accept
conforming loan amounts with jumbo pricing.
Peter |
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dmj30064
236 Posts |
Posted - 06/12/2008 : 2:11:46 PM
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This is good, thanks. I will check it out. Citi can do it, but the 1x30 mtg late is killing us. If I can find a lender that offers that I'm golden.
quote:
Originally posted by peter
HSBC will do up to 80% on jumbo SISA but need a min
FICO of 720. Someone on the BO here mentioned that
CitiMortgage can do at a lower score. You might
want to check with your Citi rep.
Others go up to 75% SISA only, but all will accept
conforming loan amounts with jumbo pricing.
Peter
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