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Scrooge McDuck
Joined: 13 Sep 2007
Posts: 7
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| Posted: Thu Sep 13, 2007 3:08 am Post subject: Scenario - need help finding lender |
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i have the following deal
Mass
625 fico
SFR
635000 purchase
635000 loan amount
100% or 80/20
12 mos business bank statements
11% dti
not a first time buyer
clean mortgage history
great credit, except for tons of CCs are weighing down score
anyone know where to go with this? |
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Scrooge McDuck
Joined: 13 Sep 2007
Posts: 7
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| Posted: Thu Sep 13, 2007 5:28 pm Post subject: |
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do people reply to postings on this board?
no one even wants to tell me im nuts? |
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Haplo
Joined: 20 Jan 2005
Posts: 2422
Location: Springfield, IL
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| Posted: Thu Sep 13, 2007 5:34 pm Post subject: |
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| You asked where to take it. If there's no reply, that's pretty much your answer... |
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Scrooge McDuck
Joined: 13 Sep 2007
Posts: 7
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| Posted: Fri Sep 14, 2007 4:06 pm Post subject: |
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and also no one replies.
there are options for this loan. i was hoping someone might have another one for me to look at.
but thanks for your help. |
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Haplo
Joined: 20 Jan 2005
Posts: 2422
Location: Springfield, IL
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| Posted: Fri Sep 14, 2007 6:06 pm Post subject: |
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The primary focus on the board is on the consumer side. Most of us are with lenders (e.g. I'm with Wells Fargo) or are with other agencies but have experience helpful for lenders (like Chow being with HUD.) It's not that we don't want to help, it's just that frequently we may not know who the best option would be.
Not sure if it's still up to date, but weirdloans.com used to provide lists of lenders to help out. |
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power broker
Joined: 12 Sep 2007
Posts: 15
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| Posted: Wed Sep 19, 2007 4:33 am Post subject: where to take it |
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| Things are tight right now I don't know what to tell you. |
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Boris
Joined: 13 Aug 2007
Posts: 29
Location: Minneapolis, MN
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| Posted: Wed Sep 19, 2007 2:10 pm Post subject: |
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| You out of the conforming limits and you trying to go bankstatements to 100%. There are very few lenders that will even look at it. Best suggestion is start calling all your lenders and inquire about the loan also go back to your client and tell him that 5-10% downpayment whould increase their chances of getting the loan done. (at 13% DTI they are not strugling for cash so if they want it bad enough they will cough up the money) |
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