Home Buying in 91367>Question Details

Mona, Home Buyer in 91367

70% down on a 550K SFH in LA. Need a non-verification / stated asset loan with good rates?

Asked by Mona, 91367 Tue Jun 17, 2008

I got divorced 18 months ago and I'm getting back on my feet so I can't do a full doc. loan right now. Any ideas on best place for the type of loan I need?

Thank you :o)

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4
Essex Mortgage Bank’s answer
Yes we can assist you for that loan call me anytime for all your "Private Money " Needs . I can do practically any loan interest rates down to 300 with a down payment of 35 % and the borrower must show they have the ability to make the payments on the mortgage.This would be a interest only loan and would be used as a bridge loan for short term financing.Jeffrey Martino Young at Essex Mortgage Bank toll free # 1-877-870-2676 or online at http://www.fhasubmissions.com
0 votes Thank Flag Link Thu Jul 8, 2010
Mona:

Many lenders still do stated / stated loans, especially with large down payments. And usually 25 - 40% is considered large - depending on the lender. You might want to look into conserving some of that down payment for a possible "rainy day" or to purchase an investment / vacation home down the road.

I would be happy to refer you to a good lender and / or discuss your situation with you more fully. I might even be able to give you some insite on how to move forward after your divorce (I went through the same experience approx 10 years ago, with the added complication of a foreclosure, and now own multiple properties in multiple states. It is doable with the right planning and the right professionals to help you get there). You can contact me through my profile.

I am confident you will find the right home, at the right price, with the right financing and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
0 votes Thank Flag Link Wed Jun 18, 2008
Yes, non-veification /Stated loans are still available which I happen to do so feel free to contact me to go over more details.

Glad to hear your getting back on your feet and hope to hear from you.
0 votes Thank Flag Link Wed Jun 18, 2008
Yes. But, that is a lot of money to put down in this market. With prices still falling. Can you wait till Fall to buy. Fewer buyers equal lower prices. What about income property as a hedge against falling prices. 2, 3, maybe 4 units.
Take your time, invest wisely. You are trying to build wealth.
0 votes Thank Flag Link Tue Jun 17, 2008
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