5 yr IO. 100 or 95 LTV one loan. Possible?

[msuh24]

hi guys,

of course its possible, but how low of a rate have you guys seen? here are the details.

100 or 95% LTV
755 mid fico
5 yr IO
low rise condo
stated/verified
purchase
owner occ
430k or 408.5k loan amount

i'm looking for one loan down to 6 or 6.25% at the highest. any ideas? thanks.

[Greg]

GN Mortgage does great on Condo's and rates.

What state?

You might need a buy down still.

[msuh24]

hi greg, as always, your the man. i've never heard of GN mortgage. how do you know so much?? the state is CA. thanks.

[msuh24]

ok, the best pricing i've gotten so far is from impac.

5.95 5 yr IO at par. 344k on first loan.
9.8 30/15 at par. 86k second loan.
2 yr PP

i can buy the first down to 5.375 with 3 yr PP and impounds for 1.225.

if you know something, help would be greatly appreciated.

thanks.

[M1Funds]

Based on the info you show above I can do 1 loan 95% 6.5%- 5 yr fix interest only. just need to know what state to see if we can do it... but everything else looks good. if you want 100% we can do it at 6.75%
both loans have NO MI.