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LoanOriginator71
175 Posts |
 Posted - 02/07/2007 : 2:43:36 PM
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I need a closed end 2nd, Ive heard there is a product out there that offer a 5.99% is that true???
if not, anyone know where to place a fixed 2nd? |
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Sabibaby316
12 Posts |
Posted - 02/07/2007 : 3:26:59 PM
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| sorry never heard of that. |
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privatecash
1755 Posts |
Posted - 02/07/2007 : 3:36:56 PM
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That's us. Send me the details for immediate pricing.
5.99% HELOC's, 1st's, 2nd's and 3rd's up to 65% LTV in CA. |
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LoanOriginator71
175 Posts |
Posted - 02/07/2007 : 3:51:17 PM
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tim
do you have anything for closed end 2nds.. |
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privatecash
1755 Posts |
Posted - 02/07/2007 : 3:54:07 PM
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Yes, we have several private investors who do 2nds and 3rds.
Email the details for immediate pricing. |
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FundStar14
755 Posts |
Posted - 02/07/2007 : 3:58:08 PM
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Check to see if thats the "TEASER" Rate. Many banks have a 4-6 month teaser rate then it adjusts to like 8%
I have a local bank we broker through that does a 2nd at 5.99% for 9 months then adjusts to Prime -.5% |
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privatecash
1755 Posts |
Posted - 02/07/2007 : 4:04:50 PM
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The 5.99% rate is fixed for 24 months, then it adjusts to Prime + 8%.
The actual rate is 11.99%, so 6% interest per year accrues to the principle balance of the loan. This loan program is designed as a "bandaid" loan to get borrowers back on their feet and refi into a better rate down the line. We offer this program to borrowers in NOD as well as any others who meet the LTV criteria in California. |
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LoanOriginator71
175 Posts |
Posted - 02/15/2007 : 03:00:29 AM
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Tim
I need a "Fixed 2nd"...with pre pay OK
723 fico
50ltv
siva
owner occ
sfr
ca
65,000k loan amt
balance on 2nd is 50,000k
need 15k cash to pay off debt..
and I dont have a Neg Am on the first...
Stearns gave me a 8.125% 30/15
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Mr Dean
70 Posts |
Posted - 02/15/2007 : 07:44:29 AM
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| Are you saying this is only available for California properties ? |
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