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Answers (7)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
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
Happy funding, Rudi
- Jim Dymek, "JimDymek"
- Contributions:1
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]
Regards,
Jim Dymek
SunTrust Mortgage
NMLSR # 437934
[phone number deleted by Zillow moderator. Please see our Good Neighbor Policy]
- Dave Skow, "daveskow"
- Contributions:1104
no chance
- Jonathan Rainer, "RainerRR"
- Contributions:74
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!
Good luck in your search!
- Clay Branch, "Georgia Loans"
- Contributions:7836
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?
- Mark Nehs, Wisconsin, "WI Mortgage Lender"
- Contributions:250
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.
- Mike Bjork, "MortgagePlannerMike"
- Contributions:346
I haven't seen any Jumbo loans with higher than 80% LTV.
Does this exsist: a 90% LTV, interest-only 5-7 year ARM for a refinance on a home valued at $1.2M?
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