I have one mortgage, NOT owner occupied. Is there anyone out there giving investment property refinances for LTV's of 85-90%?

Asked by Refi, Dublin, OH Mon Sep 13, 2010

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, ,
Mon Mar 19, 2012
The problem is finding a Mortgage Insurance (MI) company that will cover a Non-Owner Occupied (NOO) property. You will be required to have this MI coverage if the ,loan amount is greater than 80% of the value of the property.

You could search around for a local bank or credit union that would do a second mortgage on a NOO property. You may be capped at 85% CLTV (combined loan to value).

If you have the resources, you could also look at bringing in the 5% difference with you to the closing to pay down the mortgage to an 80% LTV.

All the best,
Ros

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct
http://www.ezAZloan.com

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
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Ohio's For S…, , Dublin, OH
Mon Sep 13, 2010
Fearon Financial in Powell email bbelinger@gmail.com
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Jim Staten, Agent, Dublin, OH
Mon Sep 13, 2010
I recommend checking with Quicken Loans. They claim to be offering financing for this segment of the market, when seemingly no other banks will offer this type of loan. Best wishes with this and if you are interested in purchasing or selling any investment property, please feel free to contact me directly. I work with multiple investors on a daily basis in Central Ohio. Jim Staten 614-876-6683
Web Reference:  http://www.jimstaten.com
0 votes
James Deskins, Agent, Worthington, OH
Mon Sep 13, 2010
Refi, I just talked to the best lender anywhere and he says "nope."
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