Financing in 90403>Question Details

Mark, Home Buyer in 90403

Is it possible to get an 80-15-5 mortgage in Los Angeles? Who offers these? I'm looking to buy a $900k condo with $45k down.

Asked by Mark, 90403 Thu May 3, 2012

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Hi Mark,

A loan office would be able to answer this, but I have not heard of 100% financing lately. However, if you'd like to shoot me an email or call, I'll send you the names of a couple names who are creative and who'd be able to direct you.

Elizabeth
310-469-0500
0 votes Thank Flag Link Fri May 4, 2012
One other option is FHA to $729,750 if you have $170,250 to put as down payment and the condo is FHA approved.
0 votes Thank Flag Link Thu May 3, 2012
There is no way you will find 95% financing on a jumbo condo. Sorry, but that's just not going to happen. Unless you can find a really aggressive portfolio product, you are going to have to get to $625,500 on a first and then maybe you can get a second of $94,500 to 80% LTV but you would still need $180,000 of your own funds.
Web Reference: http://WeFixRates.Com
0 votes Thank Flag Link Thu May 3, 2012
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