Ed...refi of credit line - Posted by Lori

Posted by Ed Garcia on September 20, 2001 at 10:03:11:


Obviously from the credit score you have given, credit should be no problem. You don’t tell us if the 80% you requesting is of the original purchase price or your new expected value.

I it’s from your purchase price, there should be no problem, you can get the loan as a permanent take out or rate reduction.

If it’s from the new expected value and you want cash out, you’ll have to leave it on your line for a year to give it some seasoning. Next week I will be sharing a loan program I have that only requires 6 month seasoning.

Ed Garcia

Ed…refi of credit line - Posted by Lori

Posted by Lori on September 20, 2001 at 02:14:36:

I have a credit line i can use for purchase and fix-up. I would like to refi these properties into permanent financing within about 60 days of original purchase. All would be 80% or less of appraised value and i have about a 750 credit score. Do you have any programs for this? If so what kind of rates? Thank you.