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Answers (3)
- Clay Branch, "Georgia Loans"
- Contributions:7856
petersteam, it looks like your lender ran out of steam in 2007:
http://ml-implode.com/imploded/lender_PriorityFundingMortgageBankers_2007-10-22.html
For your amusement, see this guy's YouTube presentation on his ITIN loan. No score needed, just use a water bill and cell phone bill for " credit". According to the CEO of Chase, mortgage brokers were the sole reason for the housing meltdown...
THIS, and other programs like it ( including Chase's own subprime bank statement loan ) were the main reason.
http://www.youtube.com/watch?v=F9-ciLNkvPY
http://ml-implode.com/imploded/lender_PriorityFundingMortgageBankers_2007-10-22.html
For your amusement, see this guy's YouTube presentation on his ITIN loan. No score needed, just use a water bill and cell phone bill for " credit". According to the CEO of Chase, mortgage brokers were the sole reason for the housing meltdown...
THIS, and other programs like it ( including Chase's own subprime bank statement loan ) were the main reason.
http://www.youtube.com/watch?v=F9-ciLNkvPY
- Miriam Peters, "petersteam"
- Contributions:310
I have only found one. What state is the property located in?
He is a response from a lender.
W7 / ITIN Program
We are not concerned with your client's immigration status.
We can get your Client into a home or refinance their current mortgage.
We require that we can verify:
• 2 yr employment and residency in the United States
• Consecutive 30 days recent pay-stub/s
• 1 month's reserves – not seasoned
• Possession of an ITIN
• Bank Statements Program for Self Employed Only
Program Features
• Up to 95% LTV / 500K / Full Doc / Purch and R/T
• Cash-out up to 70% LTV
• No Sourcing or Seasoning of Funds
• No PMI
• Up to 50% DTI
• No Prepayment Penalty
• No Credit Score or 551+ OK
• 2 Alternative Sources of Credit – For the Entire Application
• Up to 6% Seller Contributions (closing cost and/or pre-paids)
• Multiple Borrowers OK
• No Tax Returns for Wage Earners
If we can help your clients own a home, it helps the entire community.
All mortgages loans subject to credit approval, verifications, and collateral evaluation. Loans are available in California, Oregon, Washington, Idaho, New Mexico, Colorado, and Maryland.
Andrew Goldthorpe
He is a response from a lender.
W7 / ITIN Program
We are not concerned with your client's immigration status.
We can get your Client into a home or refinance their current mortgage.
We require that we can verify:
• 2 yr employment and residency in the United States
• Consecutive 30 days recent pay-stub/s
• 1 month's reserves – not seasoned
• Possession of an ITIN
• Bank Statements Program for Self Employed Only
Program Features
• Up to 95% LTV / 500K / Full Doc / Purch and R/T
• Cash-out up to 70% LTV
• No Sourcing or Seasoning of Funds
• No PMI
• Up to 50% DTI
• No Prepayment Penalty
• No Credit Score or 551+ OK
• 2 Alternative Sources of Credit – For the Entire Application
• Up to 6% Seller Contributions (closing cost and/or pre-paids)
• Multiple Borrowers OK
• No Tax Returns for Wage Earners
If we can help your clients own a home, it helps the entire community.
All mortgages loans subject to credit approval, verifications, and collateral evaluation. Loans are available in California, Oregon, Washington, Idaho, New Mexico, Colorado, and Maryland.
Andrew Goldthorpe
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
I may be wrong Nathan, but I don't think anyone is doing ITIN loans any longer with the exception of private money.
Happy funding, Rudi
Happy funding, Rudi
Does anyone do W-7 loans in North Carolina?
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- 5.0/5.0
- (1 review)
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