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charib1
1 Posts |
 Posted - 07/10/2008 : 12:20:41 PM
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| I am looking for a Jumbo Siva - purchase 4MIL 75% LTV owner occ in Park City, UT - Client is a real estate investor. Fico I have is 723 however I was just informed by Bank of the West that his credit score dropped to 707. |
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nancy.mortgage
121 Posts |
Posted - 07/10/2008 : 12:53:58 PM
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| I've sent you an email |
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BigFire
2962 Posts |
Posted - 07/10/2008 : 12:55:01 PM
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| what kind of assets will he have after purchase? |
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aaron1976
631 Posts |
Posted - 07/10/2008 : 3:02:29 PM
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I can do this under a private placement. Borrower will need 40% of the loan amount in liquid reserves after purchase, or if you can back up income through 12 months bank statements, then borrower will need 12 months PITI. 680 minimum Fico. 1.5 million minimum loan amount. It looks like your scenario may fit. Rate between 6.5%-8.5% 5/1 ARM IO.
Aaron Cirlin
818-590-4288
aaronc1976@hotmail.com |
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