Posted by dewCO on August 13, 2000 at 18:55:01:
Post to Brad (above me) not me. I’m notlooking for the loan he is!
95 LTV - Posted by brad in IL
Posted by brad in IL on August 10, 2000 at 22:18:15:
I just spoke to a representative at North American Mortgage in Arizona about a 95 LTV non-owner product. Does anyone have experience with this (or similar products)? I’m wondering if the interest rate is prohibitive or if there are excessive points. Also, is anyone familiar with 95 LTV non-owner products that are ARMs?
B coleman
Re: 95 LTV - Posted by Mark (SDCA)
Posted by Mark (SDCA) on August 14, 2000 at 11:35:46:
I did one of these about 6 months ago. Points were normal (2 I believe). Rate WAS higher. At the time it was 9.75 + PMI. I am sure it’s higher now (rates in general have gone up). I would guess 10.5 + PMI. In that range. It’s nice to get in for 5% down but if I were you I would look to refi ASAP.
Regards,
Mark
Re: 95 LTV - Posted by dewCO
Posted by dewCO on August 11, 2000 at 12:08:51:
You need to ask, what are their points and interest rates to see if prohibitive! Then if possible find someone else in town who also does the 95% LTV and compare. Yes, you will pay a higher interst rate than an owner occ., because it is a riskier loan for the lender, especially with only 5% down.
ARMs in general aren’t very much less in interest rate right now than fixed. Depends on what you want this loan for and how loan you think you’ll be in it as to whether it makes sense for you or not. Is a little lower interest rate what you want, or will be you be able to sleep better at night with a fixed rate?
Re: 95 LTV - Posted by Ali
Posted by Ali on August 12, 2000 at 16:57:29:
Yes we have 95%ltv for non owner/investor if your fico is 680 or above
Re: 95 LTV - Posted by Ali
Posted by Ali on August 12, 2000 at 02:02:11:
Yes we have 95%ltv for non owner/investor if your fico is 680 or above