Consumption and Real Estate
Is there a stated loan program for a home refi with 86% ltv and mid score 655. home is 499K?
Question : Is there a stated loan program for a home refi with 86% ltv and mid score 655. home is 499K?
What if i went low doc. I own two homes and so income doesnt prove enough to pay everything debt to ratio is high but no late payments on anything
home loan refi
Best answer:
Answer by rhsaunders
With the recent meltdown in the subprime market, it’s doubtful. Check with some mortgage brokers, but be prepared for disappointment.
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#3 written by pearlmel 1 year ago
there are options avalible for you with 650 and above if your income is stated you will need some reserve savings to do it. what my compatriates are forgetting is although 470,000 and above is a jumbo the loan can be split to avoid this. as it stands you would need to split the loan anyway to avoid PMI.
but its gotta make sense and the rate needs to accomplish your goals.you have to split the loan anyway to avoid the PMI and if you go stated you need some real cash in the bank to show you have cash reserves.
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wont get anything for that unless you want a really high rate