Mortgage Broker Land
Net Branches | Wholesale Lenders | Lead Companies | Credit Companies | Trainers | Processors | Mortgage Brokers

Welcome to MortgageBrokerLand.com, an online community for the mortgage industry where you can join mortgage brokers, wholesale lenders, lead providers, and other industry professionals in discussions concerning today's mortgage business. To gain full access to MortgageBrokerLand.com you must register for a free account. As a registered member you will be able to:
  • Post loan scenarios for review by wholesale account executives and other mortgage brokers
  • Communicate privately with other members around the country
  • Establish your community reputation to take advantage of free offers from service providers
All this and more is available to you when you register for a free account. So sign up today!

If you have any problems with the registration process or your account login, please contact support.



Go Back   Mortgage Forums for Mortgage Brokers > Mortgage Business > Loan Scenarios and General Mortgage Talk

Reply
 
Thread Tools
  #1 (permalink)  
Old 01-10-2006, 11:57 PM
cassie701 cassie701 is offline
Window Cubicle
 
Join Date: Dec 2005
Posts: 87
cassie701 will become famous soon enough
$360k Purchase-alabama

ANY PROGRAM THAT HAS A RATEOF 6.375% OR WHERE HIS TOTAL PAYMENT WOULD BE IN THE $2300 PER MONTH RANGE…1 OR 2 LOANS.




PURCHASE

Alabama location

100% financing 1 loan preferably

641/640 mid score both borrower & co borrower

Self employed

Monthly income $12K

DTI-45%

Full doc- using bank statements

O/O

Prior BK discharged in 2002

QUICK CLOSE NEEDED!!
Reply With Quote
  #2 (permalink)  
Old 01-11-2006, 06:23 AM
Greg's Avatar
Greg Greg is offline
Super Moderator
  
 
Join Date: Dec 2005
Location: Chillicothe, Ohio
Posts: 2,179
Greg is a glorious beacon of lightGreg is a glorious beacon of lightGreg is a glorious beacon of light
Send a message via ICQ to Greg Send a message via AIM to Greg Send a message via MSN to Greg Send a message via Yahoo to Greg
Very possible but rate is a little too low I think for 100%

I just really hate to say this but many lenders will do this and I as a loan officer will not pull out rate sheets and shop rates for you.

Maybe the wholesale guys can help though or a less busy LO. Have you looked at Indy Mac?

Hope you get an answer quick though so you can close it fast!

Maybe I will try if you let me know what lenders you have checked who cannot do it. Post those and I will try ok?
__________________
Greg Phillips
Manager
Fairfield Mortgage Company
Web : Home Forums Blog
Reply With Quote
  #3 (permalink)  
Old 01-11-2006, 01:36 PM
cropach cropach is offline
Cubicle next to the copy machine
 
Join Date: Jan 2006
Posts: 10
cropach is on a distinguished road
sounds like a good loan, would need mid score to quote rate
Reply With Quote
  #4 (permalink)  
Old 01-11-2006, 01:42 PM
cassie701 cassie701 is offline
Window Cubicle
 
Join Date: Dec 2005
Posts: 87
cassie701 will become famous soon enough
CROPACH...Please see my initial post mid scores are 641/640
Reply With Quote
  #5 (permalink)  
Old 01-11-2006, 01:44 PM
cropach cropach is offline
Cubicle next to the copy machine
 
Join Date: Jan 2006
Posts: 10
cropach is on a distinguished road
No problem w/ those scores. Would probably price best as 80/20. My current turn time is less than 1 day.
Reply With Quote
  #6 (permalink)  
Old 01-11-2006, 03:26 PM
midas midas is offline
Banned
 
Join Date: Jan 2006
Location: usa
Posts: 249
midas is infamous around these partsmidas is infamous around these parts
i recomend steward financial for that scenario!
Reply With Quote
  #7 (permalink)  
Old 01-14-2006, 06:01 PM
aaright4u aaright4u is offline
Newbie at a desk in the hall
 
Join Date: Jan 2006
Location: California
Posts: 9
aaright4u is an unknown quantity at this point
360K purchase -Alabama

Hi Cassie,

Please provide the following info;

1) Type of property;
2) Occupancy Type;
3) Minimum monthly debt;
4) Can buyer put anything down?

Can't guarantee a quick close, but will do my best.

Thanks

Angela Anderson
818.435.4788
818.726.6496
Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
$365k Purchase-arizona cassie701 Loan Scenarios and General Mortgage Talk 4 01-14-2006 02:14 PM
Lease Purchase Option Question cassie701 Loan Scenarios and General Mortgage Talk 5 12-30-2005 12:40 PM


All times are GMT -7. The time now is 09:47 PM.


Powered by vBulletin® Version 3.7.4
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.0.0
© MortgageBrokerLand.com. All Rights Reserved. Terms of Service