Sub prime Purchases

[AMPNATE]

I office share with four realtors. I get a lot of potential clients in the low
500's and they don't have any money down or for closing costs. I need lenders that will allow up to 100 cltv, gift funds, seller concessions up to 20%, and whatever else anyone can do. Most have good job time and make good money, they just don't understand finances.

[FremontJames]

I work for Fremont, and I might be able to help you.

we can do 100% CLTV (80/20) with scores over 580 for Full Doc, and 620 for Stated.

With outside financing, we can do 100% CLTV's with FICO's over 550. Under 550 FICO and we would be maxed at 95% CLTV.

We allow for 6% seller concessions, anything more than that, and you would have to do a seller second note.

Hope this helps. Feel free to contact me with any scenarios that you think might work.

James

[HisHouseMortgage]

Freemont is a great choice, also try Peoples Choice and Encore for the 100% CLTV's

[rgloans]

Originally Posted by AMPNATE

I office share with four realtors. I get a lot of potential clients in the low
500's and they don't have any money down or for closing costs. I need lenders that will allow up to 100 cltv, gift funds, seller concessions up to 20%, and whatever else anyone can do. Most have good job time and make good money, they just don't understand finances.

I dont know which would be a good lenders, I'm also having the same problem but, I would read up on Ameridream, they are down payment and closing cost assistance program.

[Greg]

If you are serviceing realtors you really need to position yourself with FHA. See if your broker will move towards setting up FHA.

[Bob Bowers]

Hey, I work for First Street Financial and here is what we can do...

40 year ARM with 500 fico, full/stated
No sourcing,seasonig funds, no reserves, no VOR's
unlimited 30/60/90's
1 day out of BK up to 100%