I know the sub prime market just had a massive fall out that is still going on, but does anybody know of any lenders still willing to do 100% LTV with a 44% debt to income ratio with a 700 plus credit score and adequate assets. It will be on an investment purchase as well
2007-05-23 15:14:27 · 4 answers · asked by adam g 1 in Business & Finance ➔ Renting & Real Estate
Not on an investment purchase. Generally speaking, when investing in rental real estate, downpayments are required. You can search around more, but my experience is that you don't get 100% LTV unless you owner-occupy one unit.
2007-05-23 15:20:42 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
The options for this type of loan are becoming scarce but I do know of at least one or two lenders that still offer 100% LTV with a score over 700 on an investment purchase. The answer to this question also depends on what state you are in as not all lenders offer these loans in all 50 states. If you still need help with this situation, feel free to email me at jsheaffer@premierbranch.com . I'd be happy to help you out.
2007-05-23 17:33:03 · answer #2 · answered by Jason S 2 · 0⤊ 0⤋
Ive worked for a paper and sub prime lenders and none of them have allowed for 100% LTV or CLV for investment property due to the fact that it's too high of a risk for the lender... if it is the primary residence the borrower is more likely to pay their mortgage because it is their home and they need somewhere to live. Whereas with an investment property, if they have less money available the 1st mtg theyd pay late would be the investment property....
2007-05-23 15:41:57 · answer #3 · answered by Carmen W 2 · 0⤊ 0⤋
Yes, there are a few lenders that are still offering 100% Mortgage Financing. However, it really depends on the state in which you live and the amount of cash reserves available. Visit us online at www.divinitymortgagegroup.com or call toll free 877.384.6489. We offer Conventional, Non-Conforming, FHA, VA - 100% Full doc and Stated Income programs. Let our professionalism and experience save you time and money. Give us a call today!
2007-05-23 18:52:18 · answer #4 · answered by Tee 1 · 0⤊ 0⤋