Profile picture for s1267192874

95% LOAN IN KANSAS CITY AREA NEEDED !

I need a 95% LTV for $465K loan in Kanas City (Platte County) or I need a 1st/2nd HELOC combo for a 95% CLTV - HELP! I have contacted many companies who can only do 90%... This is a refinance rate/term.
  • August 26 2009 - US
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Answers (5)

Profile picture for oldskoolballr
I didn't know Platte County had homes in that price range.  It must be a mansion.
  • August 28 2009
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Profile picture for Home Lending Pros.
No kidding...it's NOT going to happen...even if they can originate and process in one location.
  • August 28 2009
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Platte county FHA limit is 271,050.  Not gonna happen Robert even if they do originate and process in one location.

  • August 26 2009
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Profile picture for Home Lending Pros.
s1267192874,

Make sure your county allows for a $465k loan amount.
Look for a (DE) direct endorsed FHA lender.
Make sure they can originate and process in one location.
No seconds or heloc's exist for 95% ltv.

good luck
  • August 26 2009
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Do you know if Platte county is considered a declining market? That scenario may be tough due to the market, JUMBO loan and as you have seen not many lenders willing to go higher than 90%. Do you know of any Credit Unions or smaller local banks that may be able to help you out? CU's tend to have guidelines that are not as strict like the traditional lenders/banks.
2nd option, is it possible to do a Principal Reduction to get the LTV to 90%?
  • August 26 2009
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