Stated Investment Properties

Jimmety · #1 (**permalink**) 04-01-2008, 10:24 AM

Do these even exist anymore? Have a self employed investment property owner looking to do rate and term refinances with a few of his properties. His scores are 750+. I haven't really shopped around, but I'm under the impression that these loans are a dying breed.

www.JohnReiher.com · #2 (**permalink**) 04-04-2008, 09:49 AM

I can help you out. click below for rates/states
John Reiher - Your Wholesale Account Executive

Greg · #3 (**permalink**) 04-08-2008, 11:35 AM

Yes and No... They are available. Conforming SISA and SIVA are good loans to use on these. Citi Mortgage allows Cash Out up to 75%. Most only do rate and term at 75%.

ravi.inuva · #4 (**permalink**) 05-20-2008, 04:42 PM

I have lender who can go upto 90% with rates around 7% for a 30 yr fixed

Quote:

Originally Posted by Jimmety

Do these even exist anymore? Have a self employed investment property owner looking to do rate and term refinances with a few of his properties. His scores are 750+. I haven't really shopped around, but I'm under the impression that these loans are a dying breed.

execdecision · #5 (**permalink**) 05-25-2008, 02:49 PM

700+ Credit Score for 100% LTV
550 - 700 Credit Score for 70% to 90% LTV
Loan Amounts up to 50M
Stated Income/Verified Assets; full doc also avaiable
Appraisal Needs to be current - Underwriting will verify current appraised value
Assets Need to be Current - Typically will look for 2 to 6 months PITI
Bank Statements are OK
Purchase/Refi - Rate/Term/Refi Cash Out

Loan Parameters Include:
3/1, 5/1, 7/1, 10/1 FIXED to ARM; 30 yr. fixed
Interest Rate between 7 and 8 - Credit Score will determine rate
No PPP

To submit need to see 1008, 1003, credit, assets (VOD or Bank Statements) and appraisal (if available

Sincerely,
Georgeann Dawson; Executive Decision
Email: gigi04061983@gmail.com

Greg · #6 (**permalink**) 05-30-2008, 09:39 AM

Need an update on this one since PMI companies are not insuring them anymore. What is the highest LTV that you know of for Cash Out and No Cash Out?

I can only find 80% No Cash Out and 75% Cash Out.

Georgeann are these loans you have for investors?

rationale · #7 (**permalink**) 08-06-2008, 10:44 AM

What State?.. I have lenders in Florida that can go up to 90% LTV..

PacificUnion · #8 (**permalink**) 08-13-2008, 10:27 AM

For NOO props we are limited to 80% R/T and 70% CashOut....we can do up to 90% SIVA OO if you have any scenarios that fall within that and we we can get approvals within 24 hours.

Chris