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Answers (9)
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Almost a year old thread.
Jim- You and most everyone else, who has access to portfolio lenders.
Happy funding, Rudi
Jim- You and most everyone else, who has access to portfolio lenders.
Happy funding, Rudi
- Jim Pendleton, "Mr.Mortgage tm"
- Contributions:12
- mzuhair
- Contributions:27
Try Advancial Mortgage, they will do it. I was in the same situation as you are but I was able to find few local banks who offered me their portfolio products. This is how I found them, I went to FDIC website and searched for local banks. Next day I called all the Banks with few branches ( and at least 4 of them would refinance or equity loans on non warrant able condos. Here is the FDIC link http://www2.fdic.gov/idasp/main.asp You should start from bottom of the list. Good Luck
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
You need to pursue all your options if you want this to happen Jack.
Happy funding, Rudi
Happy funding, Rudi
- parkhijf
- Contributions:8
Rudi, I've contacted U.S. Bank, Bank o f the West, two credit unions I have accounts with currently, a mortgage broker who is looking up portfolio opportunities. I'm not familiar with zillow, I did not know until I reposted a question that I could respond within the same stream of answers to my question. I'm working with someone at Hunter Financial but haven't heard back. It seems once someone hears unwarrantable they run away. I'm frustrated and at a loss as to how I will get cash out of an investment that all along was planned to pay for college expenses. I'm sorry if I've not followed-up on some of the advice given but so far it's been a dead end.
- Bentley Advisors
- Contributions:294
You might try a HELOC on the investment condo w/ Bank of the West or a credit union such as Patelco or Golden 1. As for your primary, only way to find out if a refi is doable is by consulting w/ a lending professional. Contact me if you wish to review your options. When you say "streamline" are you suggesting your loan is a gov't loan (e.g. FHA/VA)? If not, you may qualify for a HARP/MHA refi.
- Rudi Hofmann, "LUXURY HOME LOANS CA"
- Contributions:7435
Very interesting. Jack how many times have you posted this same scenario? If someone else offers and demonstrates they wish to help you, will you have the courtesy to respond?
Happy funding, Rudi
Happy funding, Rudi
- parkhijf
- Contributions:8
Yes, I am talking two separate properties. The first is an investment condo that is appraised at $265k with a 1st of $47K. The owner/renter ration is 60/40
The second property is my primary residence with a $6501st and a $100k second with a value of $800k. This is an interest only loan that we would like to turn over to 30yr fixed...with principle payments
The second property is my primary residence with a $6501st and a $100k second with a value of $800k. This is an interest only loan that we would like to turn over to 30yr fixed...with principle payments
- Bentley Advisors
- Contributions:294
Are we talking about 2 separate properties? You initially indicate an appraised val of $275k w/ $48k 1st lien. Then, you indicate a second question re: a 1st lien of $650k and 2nd lien of $100k. Please clarify your exact circumstances.
I Need a Nonwarrantable Condo Equity Loan..Details Follow
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