Posted by JT-IN on October 16, 2006 at 11:00:12:
Maria:
All you need to do is ask this question exactly this way of several mtg brokers. Let them know right up front, exc credit, 100K in equity, want NO DOC loan… The rate may be outrageous… but that is the price of admission.
You may be better served by asking for a larger amount than 10K, since most Brokers won’t work on a deal that small… so get a 50K equity line… and only use what you need. Points or origination, (pay to the Broker) will be based on the 50K… so you may pay 500 - 1K in fees for the loan).
If you hear NO, keep calling.
JT-IN