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Does anyone do W-7 loans in North Carolina?

  • April 07 2011 - Charlotte
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Answers (3)

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

  • April 17 2011
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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
  • April 16 2011
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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
  • April 07 2011
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