Hi Guys,

I have a client doing some home improvement and they need cash-out to 90%. I was hoping to go 80/10/10 with a HELOC at M+I but they just reduced CLTV to 85%. Considering FHA, but they need a few thousand over the Chicago limit and they would take a large upfront mip hit.

Anybody doing 2nds to 90% out there?

Thanks in advance for your answers.

T

Not 90 but 89.99. RBC Wholesale.

TCF Bank in our region is doing them to 89.99.  Good contact to talk to because they don't do VA & FHA and pass referrals.

John Rodgers:

Not 90 but 89.99. RBC Wholesale.

Are you guys serious???  Lenders are going to 89.99%???  Lending guidelines becoming gas prices or what???

akaagassi:

Are you guys serious???  Lenders are going to 89.99%???  Lending guidelines becoming gas prices or what???

Yes and I am sure there is someone on this forum that can explain it

John Rodgers:

Not 90 but 89.99. RBC Wholesale.

Thanks John...I'll check them out.

T

Clem Borkowski:

TCF Bank in our region is doing them to 89.99.  Good contact to talk to because they don't do VA & FHA and pass referrals.

Hey Clem,

Thanks I'll give them a call also. This site has been very useful to me. Some good people on here.

Thanks!

T

No doubt and lot better then the Mortgage Grapevine.

Hey John,

I was trying to find a contact for RBC online with no luck. Do you have any contact info you could share? The RBCmortgage.com site seems to no longer exist. I went to RBCbankUSA.com with no luck also.

Thanks for your help!

T

Rachel Van Doren

Account Manager, Wholesale

RBC Bank Residential Wholesale Lending

Phone: (919) 943-7767

Fax: (919) 724-4200

rachel.vandoren@rbc.com