Posted on: 29th Jan, 2009 10:12 am
I was wondering if there is any scond lien lender for Alabama with LTV 89%, I have a complete file.
Hi Garriechandan,
I think you want to take a second loan on your property. As far as I know, borrowers with 80% or less LTV ratio easily qualify for loans and also get a lower rate. If you have a LTV ratio higher than 80%, then you will have go for a private mortgage insurance.
If you have a good credit score and stable income, then you may get a loan with 89% LTV but you will have to go for a PMI. You may speak to the lenders of Alabama and check out what rates you may receive or you may even seek a no-obligation free mortgage consultation from the lenders of this community. This will also help you in knowing the rates you may receive and you will also know about the current market rates.
Thanks,
Jerry
I think you want to take a second loan on your property. As far as I know, borrowers with 80% or less LTV ratio easily qualify for loans and also get a lower rate. If you have a LTV ratio higher than 80%, then you will have go for a private mortgage insurance.
If you have a good credit score and stable income, then you may get a loan with 89% LTV but you will have to go for a PMI. You may speak to the lenders of Alabama and check out what rates you may receive or you may even seek a no-obligation free mortgage consultation from the lenders of this community. This will also help you in knowing the rates you may receive and you will also know about the current market rates.
Thanks,
Jerry
US Bank does 2nd's. You have to check with them for states, as I do not know about Alabama. I hope this helps...
my understanding is that us bank will lend in alabama for seconds, but at a maximum of 85% ltv.
