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bayaba
32 Posts |
 Posted - 03/30/2005 : 11:09:04 AM
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| Here is my scenario got a 80% ltv on as first mortgage and the person wants to add a 10% heloc on to that with the cltv being 90% |
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bayaba
32 Posts |
Posted - 03/30/2005 : 12:09:14 PM
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| I guess i should explain everything first. This is also a non-owner occupied loan with stated income but 750 fico. |
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mfreed
216 Posts |
Posted - 03/30/2005 : 12:28:43 PM
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| I know of something similar, but not quite what you are looking for. Aurora Loan Services and dozens of correspondant swho sell their program can do an 80% first with up to a 20% 2nd for up to 100%. This will get you out of the MI, but it is a fixed second, not a HELOC, The only lender I know of who will do a HELOC on an investment property is Amsouth and they don't work with brokers. Maybe someone else knows something. |
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rsbyrge
118 Posts |
Posted - 03/31/2005 : 12:00:46 PM
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| National City was supposed to begin offering HELOCs on NOO...check with your local rep for this. 90% I believe was the magic number at 680 FICO, but it's been 10 months or so... |
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bayaba
32 Posts |
Posted - 03/31/2005 : 1:52:48 PM
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| Do you have there contact information or your reps |
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rsbyrge
118 Posts |
Posted - 04/01/2005 : 06:52:40 AM
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National City:
Sherrie Dauper
877-219-8424
www.nationalcityhomeequity.com
She's the Ohio rep. |
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