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Home »  Forums » For Mortgage Professionals » Loan Scenarios » Loan Scenario: TX, $200,000, 89% LTV, Refinance (Rate and Term)

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Post Statistics: 367 Views, 1 Replies
Latest Post: Wed, Nov 18 2009 11:20 AM by Dana Allen
  		• Wed, Nov 11 2009 10:46 AM
    Loan Scenario: TX, $200,000, 89% LTV, Refinance (Rate and Term)
    Loan Scenario
    View All    Post A Scenario
    Loan State: Texas
    Loan County: Dallas
    Loan Type: Refinance (Rate and Term)
    Loan Amount: $200,000
    Property Value: $225,000
    LTV: 89%
    FICO: ---
    DTI: ---
    Occupancy Type: Owner-Occupied
    Property Type: Single Family Residence

    FHA Streamline Refinance.  0x30 on mortgage.  sub 580 credit score, so is there anyone still doing mortgage only's for no credit qualifying fha streamline refinances without appraisals?

    I know that Wells, Chase, GMAC, Met Life, Flagstar, & Suntrust have all instituted min credit score overlays.
    David Robnett
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    David Robnett
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  • In Reply to This Post
    		 Wed, Nov 18 2009 11:20 AM

    I am able to go below 600 for FHA streamline w/o appraisal. I work for Bank of America Retail Mortgage and have access to many options not available to the correspondents.  Also note that my branch has internal operations, and not victim to the extended turntimes.

     Let me know if there is any way to assist.
    Dana Allen
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    Dana Allen
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