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Loan Scenario: CA, $1,050,000, 680, 42% LTV, Cash Out Refinance

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Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: CA, $1,050,000, 680, 42% LTV, Cash Out Refinance
 

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Latest post Tue, Jul 7 2009 12:29 PM by Kristina Milano. 6 replies. Viewed 549 times.
Page 1 of 1 (5 items)

  • Wed, Jun 24 2009 6:12 PM                

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    Loan Scenario
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    Loan State: California
    Loan County: Los Angeles
    Loan Type: Cash Out Refinance
    Loan Amount: $1,050,000
    Property Value: $2,500,000
    LTV: 42%
    FICO: 680
    DTI: 46
    Occupancy Type: Owner-Occupied
    Property Type: Single Family Residence

    need a lender I can broker a Jumbo loan to.  The dti is above 42% paying off all the debt...borrowers put son on title recently in order to use his income...I doubt any lender will use that to qualify, but we are at 46% without using that.

    Please contact me if you are a lender I can broker to.

  • Wed, Jun 24 2009 9:17 PM                 In reply to

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    That 680 FICO is a deal buster...

    PREMIUM MEMBER
     Bob Van Gilder, Broker- Finance One Mortgage Ph (530) 644-5395, eFax(877)468-5395 email: financeone@juno.com CA DRE lic # 01193406
    California only please---But I can refer you to professionals throughout the nation.

  • Thu, Jul 2 2009 7:09 PM                 In reply to

    |Contact

    Could probably get this done with my lender, it's most likely going to be an ARM so we can keep there rate as low as possible to keep dti down.

  • Sat, Jul 4 2009 6:54 AM                 In reply to

    |Contact

    Why doesn't this guy pay his bills?  DTI too high and Fico too low.  How about a lower priced house!!

     

     

  • Tue, Jul 7 2009 12:13 PM                 In reply to

    |Contact

    I have a lender that can do jumbo loans with a non-occupant co-borrowers.  They have ARM's and a 15 year fixed at competitive prices.

    Stuart Kishner:
    Why doesn't this guy pay his bills?  DTI too high and Fico too low.  How about a lower priced house!!

    Stuart,

    Why are you assuming this guy isnt paying his bills?  It's a recession, everybodys bills are pilling up.  This is a positive site without trolls, please keep it this way.  Also, a 42% DTI on a big loan like this is very common in California.  In case you hadn't heard, we have much higher home prices here.

    PREMIUM MEMBER
     Eric J. Leithliter, BMC Mortgage Company
    eric@barronmortgage.net
    415-454-3644 x24
    Visit my mortgage blog at www.bayareamortgageguide.com
    "I work to find the right loan for your dream home"
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