Profile picture for BerkleyR

Does this exsist: a 90% LTV, interest-only 5-7 year ARM for a refinance on a home valued at $1.2M?

Doing some research for a client trying to find a loan like this for a property in Dunwoody, Georgia.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011 - Dunwoody
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (7)

Jim, what professions qualify and how much in assets are required for this Sun Trust program? Is it only available for an ARM or can they also receive a FRM? On Marksman this scenario is invalid.

Happy funding, Rudi
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 16 2011
I realize this is a late reply but yes this is possible depending on the clients profession or assets he/she may have.  We are still currently doing these loans up to 89.9% without MI...

Regards,

Jim Dymek
SunTrust Mortgage
NMLSR # 437934
[phone number deleted by Zillow moderator.  Please see our Good Neighbor Policy]
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
November 16 2011
no chance
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011
I'd strongly recommend against doing a ARM on that large of a loan.  If the client lost his job or business income, and interest rates creep up, he might not be able to sell the property or pay the mortgage.  That sort of perfect storm isn't that unlikely looking at the mortgage industry's history in the past 5 years.

Good luck in your search!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011
That will be very tough finding that. If you do you probably will need 2 loans since getting MI on that may be impossible and you still need an investor allowing a CLTV of 90. Is there an existing 2nd in place? How tight are the comps that you are basing the value on?  Borrower scores in the high 7's?  
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011
Sorry.  Maybe an asset based loan in conjunction with the real estate.  Some wealth management divisions (of a Bank or other financial institution) will look to make it work to keep the investments.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011
I haven't seen any Jumbo loans with higher than 80% LTV.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
March 26 2011
 
Related Questions
Does this exsist: a 90% LTV, interest-only 5-7 year ARM for a refinance on a home valued at $1.2M?
Profile picture for Rudi Hofmann
Latest answer by Rudi Hofmann
November 16 2011 | 7 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 2350 Kimbrough Ct, Atlanta, GA Home For Sale
    2350 Kimbrough Ct, Atlanta, GA 30350

     For Sale: $399,900

    • Beds: 5
    • Sqft: 3029
    • Baths: 3.0
    • Lot: 17999
  2. 660 Coley Oaks Ct, Sandy Springs, GA Home For Sale
    660 Coley Oaks Ct, Sandy Springs, GA 30350

     For Sale: $1,250,000

    • Beds: 5
    • Sqft: 4693
    • Baths: 5.0
    • Lot: --
  3. 670 Coley Oaks Ct, Atlanta, GA Home For Sale
    670 Coley Oaks Ct, Atlanta, GA 30350

     For Sale: $1,290,000

    • Beds: 5
    • Sqft: 4513
    • Baths: 5.0
    • Lot: 30056