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Answers (11)
- hallofjustice
- Contributions:3
Yeah still looking for loan without pledge assets or high liquidity reserves
- Andrew Adams, "203K Specialist"
- Contributions:9349
I had to ask the question.
We offer a program that will allow it....the problem with it is that you need so much in liquid reserves that it is pretty much useless IMHO...If they had had upwards of 25% of the loan amount, in liquid reserves pledged or not they could probably put down the additional down payment being required!
We offer a program that will allow it....the problem with it is that you need so much in liquid reserves that it is pretty much useless IMHO...If they had had upwards of 25% of the loan amount, in liquid reserves pledged or not they could probably put down the additional down payment being required!
- Ray Blindauer, "SigmaWealth"
- Contributions:246
Andrew, it probably doesn't, but I think it's news to the rest of us.
Geofrey, We're ALL still looking for that answer!
Geofrey, We're ALL still looking for that answer!
- Geofrey Merino, "GMerino"
- Contributions:444
Are you still having problems seeking a loan for 2 million that offer 85% loan to value to a million?
- Andrew Adams, "203K Specialist"
- Contributions:9349
I am trying to figure out how a loan program that allows 85% LTV to a Million will help a consumer looking for a 2 Million Dollar loan @ 85% LTV?
- Mike Bjork, "MortgagePlannerMike"
- Contributions:346
I had just spoke with the New Penn AE, which they do offer an 85% LTV program up to $1 million without MI. The rates will most likely be in the 5% range now (depending on price adjustments). There is not Pledged Assets needed for this particular program.
- hallofjustice
- Contributions:3
- Ray Blindauer, "SigmaWealth"
- Contributions:246
Mike,
I do know that Bank of Internet's program does use pledged assets. I haven't checked in to New Penn's. Their rep actually just responded to a post I had in another forum and I don't have the details. You may be right, though.
I do know that Bank of Internet's program does use pledged assets. I haven't checked in to New Penn's. Their rep actually just responded to a post I had in another forum and I don't have the details. You may be right, though.
- Mike Bjork, "MortgagePlannerMike"
- Contributions:346
I believe Bank of Internet is also very similar to New Penn's program, but will go up to $5 million loan amounts and 90% LTV. Correct me if I'm wrong, Ray, they will require Pledged Assets to attain the 85% (or 90% in B of I's program) LTV (?).
So, "HallofJustice" I think you may have a shot -assuming if the terms are agreeable to you.
So, "HallofJustice" I think you may have a shot -assuming if the terms are agreeable to you.
- Clay Branch, "Georgia Loans"
- Contributions:7835
hallofjustice, what do you mean by up to 2 mil? What is your loan balance?
- Ray Blindauer, "SigmaWealth"
- Contributions:246
You're in luck!
New Penn Financial has an 85% LTV jumbo program up to $1MM with no mortgage insurance. Check with me or your favorite or local banker or broker for more details.
New Penn Financial has an 85% LTV jumbo program up to $1MM with no mortgage insurance. Check with me or your favorite or local banker or broker for more details.
85% LTV refinancing on loan up to 2 mil
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