Can someone refer me to a lender who will do an 80-15-5 loan?

Asked by Buyer in CA, San Jose, CA Wed Nov 10, 2010

My wife and I have excellent credit and want to buy a house in Redwood City, CA. However we only have 15% down and so I want to get a 80-15-5 loan. Contact me if you can do this.

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John Dutra’s answer
John Dutra, , Fremont, CA
Thu Nov 11, 2010
Buyer,

Anyone should be able to do that for you as this will be a conventional loan with mortgage insurance. That is a solid down payment and with good credit scores and credit management you should have no problem.

You may have already made a choice and that is fine - feel free to contact me for information anytime. We have BofA, Wells, Chase, GMAC and more to choose from and monitor rates daily for you along with the bond market and economic trends to help you lock your rate during the best possible period during the purchase of your home.

That said - even if I am not doing your loan, I want you to feel free to call or email me with questions or concerns so that I might help your family. Home buying is exciting but without proper information it can be tougher than it should be. No one needs to go through that my friend.
Best always, John
0 votes
Louis Stone-…, , Santa Clara County, CA
Wed Nov 10, 2010
Are you insane? or on drugs? If we have leaned anything in the recent years, we have learned this is a BAD idea!
1 vote
Allan Lorenzo, Agent, MILPITAS, CA
Wed Nov 10, 2010
Hello,

Give me a call at 408.594.2640. I'm a Broker Associate for Intero Real Estate and have 11 years of mortgage background. I might be able to help you.
0 votes
Grace Hanamo…, Agent, Cupertino, CA
Wed Nov 10, 2010
Hello Buyer and thanks for your post.

Depending on the amount of the loan needed, the price of the home, your FICO scores (760 is what is usually needed) and your overall debt to income ratios, you might actually qualify for a 90/10 loan, rather than a 85/15 loan. In fact, my trusty loan broker told me of some great loan product now available at his office with a 90/10 loan at 4.25%--pretty darned good.

If you're interested, give Jay Deimling from the Property Network a call at (408) 806-9870. He's around this evening, and let him know that "Grace" sent you!

Sincerely,
Grace Morioka, SRES
Area Pro Realty
Tel (408) 426-1616
0 votes
Nina Daruwal…, Agent, Cupertino, CA
Wed Nov 10, 2010
Dear Buyer,
Please Call Ting Kong of Venstar Financial, on 510-579-2070, and see what she can/cannot do for you. SHe is excellent in her work, good in communicating and will close on a Loan if she says so!
Please let her know I refered you to her, and do call me if you need a really good realtor, i will take you through the process from Start to finish and beyond!
Take care, regards,
Nina Daruwalla-COldwell Banker-Cupertino.
Web Reference:  http://www.ninadaruwalla.com
0 votes
Carlos Cruz, Agent, Saratoga, CA
Wed Nov 10, 2010
Please call Joyce Conlin of The Loan Source via (408) 904-6735. Let her know that Carlos referred you. Good luck.
0 votes
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