Hawaii Jumbo Cash Out

[darDeMet]

I am looking for a lender that can do the following loan FAST

Owner Occupied
Cash out refinance
Value $1,400,000
Requested Loan amt $1,260,000
90% LTV/CLTV
Doc type: Stated/Stated or No Doc
FICO: 657
Property location: Kihei, Maui, Hawaii

Has only owned the property for 6.5 months but has put money in for improvements and is looking for an additional $100,000 to finish repairs and upgrades.

[Greg]

You done one in that state yet? I think their lending laws restrict out of state lending to people living there. I think you can only do loans for people onwing investments or second homes and residing out of state.

I am not sure honestly but our corporate licensing chart makes note of it.

Does anyone else have some info?

I think New Century Prime will do it but on an 80/10. If I remember right 2nds have issues in that state too. Their Mortgage Mover program actually allows 100 CLTV with a 1 million max 1st.

I will look more tomorrow and fill you in. I deffinately could be wrong.

[darDeMet]

Aloha Greg,
I do live in and am licensed in the state of Hawaii and the borrower is a resident of the state of Hawaii.
Mahalo
Darlene