Home Buying in 32250>Question Details

Brian, Home Buyer in Jacksonville Beach, FL

Looking for a lender (hard money or not) to lend on 80% LTV primary residence.

Asked by Brian, Jacksonville Beach, FL Thu Aug 9, 2012

Looking for a lender (hard money or not) to lend on 80% LTV primary residence, provable income, but cannot qualify for FHA and the 20% down may not be seasoned. Loan amount of $340,000.

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Answers

7
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Brian,

After we talked I discovered a few more options, maybe with as little as 10% down.

Call me in the morning so I can tell you how to structure the deal.

http://www.pro-option.com
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0 votes Thank Flag Link Sun Aug 26, 2012
Thanks Steve, I have an app in with a credit union (5/1 ARM) for my type situation. Let me see how that goes for a few days and I will call you if that looks like it wont work. Any details on your new idea?
Flag Mon Aug 27, 2012
Hi Brian, I have worked very closely with both Walter B. and Bill Pappas. The Morgage people that have been in business for just a few years are the ones to avoid. These "old timers" know how to work. They understand the industry, they were not the fly by nights of a few years ago that literally sat in call rooms running applications. That I have seen, those folks are no longer working loans, they Re in other industries. You can also verify the reputable mortgage professionals by checking their licensing, length of time in the business and how many employees are in the company by going to http://www.nmlsconsumeraccess.org/ . Good luck!
0 votes Thank Flag Link Sun Aug 26, 2012
wpappas@trustlinemortgage.com
26 years in the mortgage business
Call 904-398-6220 and ask for Bill
NMLS #218443
0 votes Thank Flag Link Thu Aug 9, 2012
STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com

80% LTV- FIX n’ FLIP Invest. Prop.

80% LTV- NEW- Stated Income Alt

75% LTV- NEW- Foreign Nationals- Stated Income Alt

75% CLTV-NEW- after Short Sale, BK or Foreclosure

70% LTV- Soft and Hard Money -Stated Income Alt



LOT/VACANT LAND LOANS up to $30,000/ $363.00 mo. pymt.

COMMERCIAL PROGRAMS (many programs available nationwide)


Steve McRory

Pro Option Mortgage/Florida
http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404
0 votes Thank Flag Link Thu Aug 9, 2012
Hi Brian, Contact Walter Bianchi 904 894 6037. Good Luck and let me know if I do anything else for you.

John
0 votes Thank Flag Link Thu Aug 9, 2012
I just closed that type of loan yesterday!

See the blow programs:


Response from a retail Bank Rep. after I asked her how many of the below programs they can offer. She wrote back:

Honestly Steve, after reviewing them, I don’t think we can do any of these. We are pretty vanilla, Straight FHA VA conventional. I will keep your flyer and if I run across anyone we can't help I will send them your way. thanks


100% LTV- USDA/12 mo. into Chapter 13 BK is OK!
100% LTV- VA/can pay off debts on purchases too!
99% LTV- FHA ($100.00 down)


97% LTV- No PMI or MI and No 1.75% FHA FEE

95% LTV- No PMI

95% LTV- CONDO

90% LTV- 2nd Home

90% LTV- JUMBO

85% LTV- NO PMI to Super Jumbo



STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com

80% LTV- FIX n’ FLIP Invest. Prop.

80% LTV- NEW- Stated Income Alt

75% LTV- NEW- Foreign Nationals- Stated Income Alt

75% CLTV-NEW- after Short Sale, BK or Foreclosure

70% LTV- Soft and Hard Money -Stated Income Alt



LOT/VACANT LAND LOANS up to $30,000/ $363.00 mo. pymt.

COMMERCIAL PROGRAMS (many programs available nationwide)


Steve McRory

Pro Option Mortgage/Florida

http://www.pro-option.com

steve@pro-option.com

Ph: 888 662 4404



Prior Service U.S. Marine Corps
0 votes Thank Flag Link Thu Aug 9, 2012
It only takes a couple months to be seasoned, as I recall. Can you get a loan from a regular lender is the question. Credit? Income? You should speak to a couple lenders before looking for hard money which will cost more.
0 votes Thank Flag Link Thu Aug 9, 2012
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