Financing in Los Angeles>Question Details

Jim, Other/Just Looking in

Anyone aware of any 90% or 95% LTV mortgages for NOO investors on triplexes or fourplexes?

Asked by Jim, Tue Oct 16, 2012

It seems like values are stabilizing in SoCal, but the lending leash is as tight as ever. I was intrigued by HomePath until getting word that all of the magical pixiedust powder really just outlined a lack of a need for a lender appraisal as well as--for OO properties--a lack of a need for PMI. Since I was only looking at tris and quads, my options quickly jumped back into "conventional loan" land.

Anyone hearing of any other progressive loan vehicles coming back online? Not looking for the return of subprime garbage programs, but am looking for something better than "75% LTV or nothing."

Help the community by answering this question:

Answers

3
Noo had the highest default rate so you are unlikely to find it any time soon.
0 votes Thank Flag Link Wed Nov 28, 2012
HomePath went from 10% and now is 15% down on HomePath approved properties. Owner occupied is 3% with Fannie Mae HomePath, no MI or FHA 3.5% down for multi family. Non owner occupied is 25% down, good luck.

http://www.Under640FicoScoreLoans.com
http://www.FrankandSheryl.com
http://www.under640ficoscoreloans.com/Pages/ContactSheryl.aspx
Sheryl Arndt, Broker – Loan Officer
DRE# 01440252
NMLS# 297251
760-486-4225
0 votes Thank Flag Link Wed Oct 17, 2012
Wells Fargo has introduced an interesting program 85% LTV- it's an equity line of credit -
for SFR and/or up to 4 units-
They will finance up to 4 investment properties-
Let me know if i can help you locate some units-

Nadia
0 votes Thank Flag Link Tue Oct 16, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer