@@@ Broker needs HELP finding lender for 4 scenarios @@@

rami · Joined: 16 Oct 2006 Posts: 2

Thanks for taking the time, i am looking for a lender(s) for those 4 scenarios. Please contact Amer as soon as possible at 201-483-6407

Here are the scenarios:

Loan 1:
Purpose - Cash out refi
Occupancy - Owner occupied
Property Type - Single family residence
Fico - 627
Doc - Stated income wage earner / Stated Assets
Total Loan Amount - $1,280,000
Appraisal Value - $1,600,000
LTV – 80%
DTI – 45%
NY
Note - Purchased 6 months ago for $1 million on a distress sale and now wants to do a C/O Refi based on appraisal value. Borrower is willing to do this deal by breaking it into a 1st and 2nd.

Loan 2:
Purpose – Purchase (1st Time Home Buyer)
Occupancy - Owner occupied
Property Type – 2 Family residences
Fico - 634
Doc - Stated income Wage Earner / Verified Assets (can verify 3 months PITI – Closing costs are covered by seller)
Total Loan Amount - $285,000
Purchase Price - $285,000
CLTV: 100%
DTI – 45%
NJ
Note –

Loan 3
Purpose – Purchase (1st Time Home Buyer)
Occupancy - Owner occupied
Property Type – 3 Family residences
Fico - 674
Doc - Stated income Wage Earner / Verified Assets (can verify 2 months PITI – Closing costs are covered by seller)
Total Loan Amount - $380,000
Purchase Price - $380,000
CLTV: 100%
DTI – 45%
NJ
Note –

Loan 4
Purpose – Cash out refinance
Occupancy - Investor
Property Type – Single Family
Fico - 673
Doc - Stated income Wage Earner / Verified Assets (can verify 6 months PITI)
Total Loan Amount - $765,540
Purchase Price - $850,600
CLTV: 90%
DTI – 45%
NJ
Note – Willing to do the loan at 80/10 or 70/20. Borrower is willing to do whatever it takes to make the deal happen. The borrower just did a rate and term refinance on this property 4 months and got her self in an option arm that has a very high fully amortizing rate. She wants to lock herself into an arm for at least 3 years and get cash out.

IFUNDEM · Joined: 03 Jan 2007 Posts: 13 Location: Sacramento, Ca

I can do #1 for you. let me know if your still having an issue finding someone

kdasilva · Joined: 31 Dec 2006 Posts: 5

Hey Amer,

If I were you I would check out Lancaster Mortgage at Lmbonline.com or ABConduit at abconduit.com They both will be able to get I am pretty sure every one of these deals. They have no seasoning at all on title and appriased value and have great rates for stated or no ratio deals. Also with lancaster and ABC if you split the 100% deals into a 65/35 there will be no hits on the 1st for units, stated or no ratio programs or anything else for that matter. This will give you a rate in the high 6's to low 7's on the first while making up to 2.5% YSP on the back. I hope the best for you and if you are not signed up with these lenders and would like to work something out where I would be more than willing to work with you on these deals.... Best of luck!!!