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mortgagewrangler
30 Posts |
 Posted - 07/24/2008 : 3:47:35 PM
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2 Questions:
1)Any lenders still doing ITIN # loans in California?
2)and if so, are they willing to do one on an investment property? |
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slants
4274 Posts |
Posted - 07/24/2008 : 4:19:48 PM
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| None left wholesale. BofA and Citibank retail have the ACORN program for ITIN's at super low rate, high LTV and no MI, but not wholesale. Don't know if they do it on income properties. I think it's unlikley. |
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ahoshmand
44 Posts |
Posted - 07/24/2008 : 4:56:40 PM
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Hey David,
My company Stonecrest does ITIN purchases (OO, NOO, & Commercial)
We're a CA private portfolio though, so pricing is higher than what you'd expect from the banks that used to do it (like Wachovia).
65% max ltv. My pricing is 11-12% IO or 30/40/50am & 3-5pts dependent on loan amount, 3yr fixed/1yr ppp or 5yr fixed/2yr ppp.
You might also want to check Downey, Flagstar & Banco Popular to see if they are still doing them. Don't know if they currently are anymore.
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mortgagewrangler
30 Posts |
Posted - 07/24/2008 : 5:10:30 PM
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| Thanks folks |
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slants
4274 Posts |
Posted - 07/24/2008 : 6:15:29 PM
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| Banco does not lend in CA anymore. Flagstar only lends to lawful immigrants with visa's or greencards. Don't know about Downey. |
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mortgagewrangler
30 Posts |
Posted - 07/24/2008 : 6:27:24 PM
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| I know Banco used to, but they backed out of CA last month. The other lender that used to do them stopped. I sent emails to downey & flagstar. I'll let you know what the results are. |
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