Lender with experience with forgivable loans from employer

Asked by Dee, 94903 Fri Dec 23, 2011

I am wondering if I can still get the best available rate with excellent score (~800) if I use my employer backed forgiveable second loan.

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Larry Martinez’s answer
Larry Martin…, , Corte Madera, CA
Mon Dec 26, 2011
BEST ANSWER
Hi Dee

2nd loans can usually be subordinated at a very small cost. An employer forgiveable loan should be no exception as long as the term is at least 5 years and the loan is recorded as a lien against the property. Even if it does not meet specific requirements, it is likely we can restructure your 2nd loan so it does.

An 800 score will qualify you for the very best rates as long as your property and income meet the lenders requirements.

Larry Martinez 415-258-1691. NMLS 256787 (Mortgage Loan Officer)
Web Reference:  http://www.MartinezLoans.com
0 votes
Daniel Neben…, Agent, San Francisco, CA
Fri Dec 23, 2011
I work with a number of really good loan officers that I can refer to you. Knowing your particular situation would really help me provide you the most appropriate professional for your home purchase. Great low rates are out there but the different variables of income, employment history, credit score, neighborhood, condition of the subject property all come it to play. Call, text or email me for more info. 415.497.8864 or dan.nebenzahl@cbnorcal
.com
Web Reference:  http://MarinViewHomes.com
0 votes
Rich Homer, Agent, NAPLES, FL
Fri Dec 23, 2011
A Mortgage Broker is your first stop. Local search here http://www.trulia.com/voices/directory/94903-mortgage_broker…
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