Need some financing advice.. - Posted by Tom (MI)

import · December 23, 2003, 6:20pm

Posted by Tom (MI) on December 26, 2003 at 17:47:03:

Thank you Ed. I know there is more info needed to give a definitive yes or no. I just wanted to get an idea so I don’t have to rely solely on what my Mortgage Broker says.

Hope you had a great Christmas and New Year.

Tom

import · December 23, 2003, 6:20pm

Need some financing advice… - Posted by Tom (MI)

Posted by Tom (MI) on December 23, 2003 at 19:20:34:

I will be talking with some mortgage brokers but wanted to get some insight from this board.

House in Michigan will appraise for 207,000

Buyer’s mid score is 684.

Looking for a 95% LTV no doc or stated that he may qualify for. Self employed. Owner occupied.

Any thoughts of the feasibility of no doc for this guy?

Thanks

Tom

import · December 24, 2003, 1:26pm

Re: Need some financing advice… - Posted by Brandon M

Posted by Brandon M on December 24, 2003 at 14:26:57:

Slam dunk…many will do it. Go for it.

import · December 24, 2003, 9:21am

Re: Need some financing advice… - Posted by Ed Garcia

Posted by Ed Garcia on December 24, 2003 at 10:21:18:

Tom,

Based on what little information you have given, this can be a deal. Meet with your Mortgage Broker and have him shop the loan.

If he tells you that he cannot do the deal, then ask him why and come back to the board.

Merry Christmas,

Ed Garcia

import · December 26, 2003, 4:48pm

Re: Need some financing advice… - Posted by Tom (MI)

Posted by Tom (MI) on December 26, 2003 at 17:48:22:

Thanks Brandon.

Merry Christmas and New Year.

Tom