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What is a Altay(sp)?

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Forums » Consumers - Questions, Answers, Help » Mortgage Questions » What is a Altay(sp)?
 

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Latest post Mon, Dec 15 2008 6:55 PM by Adam S. 2 replies. Viewed 651 times.
Page 1 of 1 (3 items)

  • Sun, Dec 14 2008 8:56 PM                

    • Anonymous

    What is a Altay(sp)?

  • Mon, Dec 15 2008 4:27 PM                 In reply to

    |Contact

    I belive that you are referring to an Alt-A loan.  This is a program that conventional lenders use when you were not quite qualified for a Conventional loan. This loan does still exsist to some extent...there are still a few lenders that will still accept these finding once the loan is ran through either DO/DU.  When the Alt-A findings is received it usually means that there will be some add ons to the interest rate because this loan is a greater risk to the lender/servicer.

  • Mon, Dec 15 2008 6:55 PM                 In reply to

    |Contact

    Jill, I think Alt-ay is Alt-A, but in Canadian.

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