52% ltv - Posted by Sxcott

Posted by Nate(DC) on February 25, 2003 at 19:47:43:

I bet you could get it done, if you were willing to do it on something less than 30 yr fixed. Maybe a 2/28 ARM, then once your credit is fixed, you can refi into a fixed. I think that would be the way to go.

NT

52% ltv - Posted by Sxcott

Posted by Sxcott on February 25, 2003 at 11:08:21:

I have a property that is under a land contract right now with an LTV of appx. 52%. What I would like to do is pay off the owner with a refi or some other loan. My concern is that my credit score is 525. Does anybody have any thoughts or suggestions on how to make this fly. Thank you in advance.

Re: 52% ltv - Posted by Mark-WV

Posted by Mark-WV on February 25, 2003 at 20:20:28:

I would check around with some brokers in your area , I have one here that will make a loan up to 80% ltv with a 520 score.

I know this for a fact because he has all ready cashed me out on two houses that renters wanted to buy !! One person had ,as you a 520 score and another had a 505 and all he wanted was proof of on time rent payments for the past year.

Re: 52% ltv - Posted by Nate(DC)

Posted by Nate(DC) on February 25, 2003 at 17:12:37:

At 52% LTV you should be able to get a loan, even with a 525 score. How low of an interest rate do you need in order to make the refi worth while?

NT

Re: 52% ltv - Posted by tyler

Posted by tyler on February 25, 2003 at 12:58:10:

For short term $$, you’ll need a hard money lender. If your in the Charlotte, nc area email me. I might be able to help.

Re: 52% ltv - Posted by Scott

Posted by Scott on February 25, 2003 at 14:38:07:

The only money I would be looking for would be like $5000 to pay off my credit, other than that I’m just thinking I could get a lower intrest rate along with maybe a couple more years to pay so it would give me more cash flow each month.

Re: 52% ltv to NT - Posted by Scott

Posted by Scott on February 25, 2003 at 17:27:45:

TO NT I would be willing to go with a 9 maybe 9.5% as long as there was no down and they let me take out say $6,000 to repair credit.