sammydavisjrjr asked:
Okay. Let’s get past the obvious. I am looking for answers about stated income loans. Owned home for 14 months, no late payments, stated income (self employed). I know the subprime market has gone to waste and alot of poeple that fit into that market cannot refinance because they changed the parameters to do so. So here is my question. with a 710 mid fico, am looking for 95-100% ltv to pull a little cash to pay off debt. Does this put me into subprime because of the ltv or am I consider A paper because of my fico and good credit history. Also, can anyone suggest the lenders that offer programs that fit this scenario?
Thanks.
to add: I am looking for real answers, not email addresses and such.. and yes I am aware of property values, etc. what I wan to know is specific. is it still considered subprime going to 100% ltv/cltv and given the fico’s, is this something that can be done with half way decent rates? It would be great if someone posted a link to rate sheets as opposed to emails and comany web sites. thanks
Alma
Okay. Let’s get past the obvious. I am looking for answers about stated income loans. Owned home for 14 months, no late payments, stated income (self employed). I know the subprime market has gone to waste and alot of poeple that fit into that market cannot refinance because they changed the parameters to do so. So here is my question. with a 710 mid fico, am looking for 95-100% ltv to pull a little cash to pay off debt. Does this put me into subprime because of the ltv or am I consider A paper because of my fico and good credit history. Also, can anyone suggest the lenders that offer programs that fit this scenario?
Thanks.
to add: I am looking for real answers, not email addresses and such.. and yes I am aware of property values, etc. what I wan to know is specific. is it still considered subprime going to 100% ltv/cltv and given the fico’s, is this something that can be done with half way decent rates? It would be great if someone posted a link to rate sheets as opposed to emails and comany web sites. thanks
Alma
Bernice
Yeah that shouldn’t be a problem I know a lender who does a 100ltv siva.
Comment by marxistharpist — May 21, 2010 @ 12:44 am
Jeanne
If you could get a better LTV it would help a lot, you’re skating too close to the line even with a non traditional lender. Do you have a credit union available to you? That may help. You would be A paper with an 80/100 LTV. Can you get documentation to prove that property values have risen to that extent or is your market stagnant or has gone down, those are all factors. Whatever you do don’t have all these people look up your credit score or it will go down, you probably know that already but thought I would mention it.
Comment by ZenWoman — May 21, 2010 @ 4:54 am