Posted on: 11th Jan, 2010 01:11 pm
hello there,
i am a real estate investor, owning many properties free and clear. i have 0 mortgages currently.
i need a 1st mortgage (cash out refinance) in cleveland, oh
i need 6 months seasoning, to go off of appraised value.
property value is $105,000.
i can go 70% ltv if needed. need as much as as possible.
credit score is either 660 or 680.
full documentation, dti is probably 15%.
[size=9:2a3de9b1de][color=red:2a3de9b1de][personal details deleted as per forum rules. thanks][/color:2a3de9b1de][/size:2a3de9b1de]
i am a real estate investor, owning many properties free and clear. i have 0 mortgages currently.
i need a 1st mortgage (cash out refinance) in cleveland, oh
i need 6 months seasoning, to go off of appraised value.
property value is $105,000.
i can go 70% ltv if needed. need as much as as possible.
credit score is either 660 or 680.
full documentation, dti is probably 15%.
[size=9:2a3de9b1de][color=red:2a3de9b1de][personal details deleted as per forum rules. thanks][/color:2a3de9b1de][/size:2a3de9b1de]
With a credit score of 660-680, you will be able to get a FHA loan. Did you apply for a loan with your local lenders? If not, then you should speak to them in order to check out whether or not you would qualify for a loan. Apart from your credit score, the lender will also look into your income before giving you a loan. Also, you shouldn't have too much of negative items in your credit report while applying for a loan. You can also seek a no obligation free mortgage consultation with the lenders of this community in order to check out if you qualify for a loan.
Really? an FHA loan on an investment property? Are you sure that is correct? I didn't think FHA was allowable on investment property.
sajjushah,
You can get a refi quote instantly online if you like. It'll give you a good starting ground and let you see what your options are quickly and easily. you can also try different lenders and compare them.
You can get a refi quote instantly online if you like. It'll give you a good starting ground and let you see what your options are quickly and easily. you can also try different lenders and compare them.