Which mortgage lender will loan the most without hidden fees on an “interest only” or low-payment loan, without income verification. Also what % of the “house value” can I expect to be able to borrow on a “no-ratio“ or “no-income-verification” loan? I own the home, free and clear and it has potential rental income. Thank You
2007-09-29 20:51:55 · 2 answers · asked by hop-a-longmd 1 in Business & Finance ➔ Credit
A couple of years ago Charles Schwab bank offered prime minus .75 on a HELOC that was interest only the first 10 years. You needed to have high equity like you do and a credit score over 720 but it was super easy to get. It only took a phone call, they ran a credit check then overnighted the documents to have you notarize and overnight back. It was funded in just a few days.
2007-09-29 21:00:14 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
IF you have solid scores..........
Probably 80%
Do you live in it? You may be able to get more?
Would its value make it a jumbo?
Feel free to contact us. We don't do hidden fees or junk fees.
Nobody works for free so those no cost loans are hidden fee loans or you pay with higher rate.
Open Book Advisors
2007-09-30 04:00:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋