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Any lenders still do 90% LTV on non-owner occuiped? Property in Indiana

Profile picture for rblaile
Indiana condo need a quick closing and 90% LTV.  FICO above 700.  Property will be non-owner occupied.  Any lenders still doing this?  Also looking for 90% LTV Refi on a non-owner occupied 3 family to get out of FHA (no cash out).
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July 24 - Indianapolis
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Profile picture for Justin Kennedy
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Since September 2009

rblaile,
since traditional Fannie and Freddie have limitions, LTV, New condo HOA rules that are hard to overcome and does not fit your downpayment of 10%. you may want to visit www.homepath.com  Fannie Mae offers a special program for thier REO assets; this program allows 90% investment purchases, no appraisal, and few other out of the box guideliens. granted unless the condo mention in your post is owned by Fannie Mae it will not be available on that specific property. however, you may find a simular property owned by Fannie Mae that fits your investment plan.

as mention in the other replys, you may be able to streamline the FHA insured 3 unit investment property, 90% ltv 3 unit investor refi, outside of a FHA to FHA streamline. i feel your options are very slim.
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July 30
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Sorry, on Non-Owner Occupied, 80% is going to be your max. Your non-owner that is in an FHA loan we can get done on an FHA steamline. FHA non-owner, as long at it was purchases owner occupied ok.

Hope this helps.

-Voyage Home Loans
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July 30
FHA will finance HUD owned properties for a non-owner occupied purpose and requires only $100 down payment. They will not finance the cost of improvements to put the home into a acceptable condition to be used as collateral; so if it needs required repairs, the costs must be placed in escrow at closing.
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July 25
80% for purchase non owner occupied
75% for a refinance non owner occupied

90% will be an almost impossible long shot.

And Keith is correct, at 75% you'll get a much better VS 80%.
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July 24
I agree, 80% for SFR Investments and 75% 3-4 unit of course better interest rates if you put down more money (less risk)
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July 24
Profile picture for Chris Corica
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Kelly - It is actually 80% for SFR Investment loans and 75% 3-4 Unit Investor
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July 24
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Fannie and Freddie guidelines are as follows:

75% max LTV single-family investment property
70% max LTV 3-4 unit investment properties

Sorry...
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July 24
 

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