100% loans - Posted by Luke

Posted by Ronald Sampson on April 10, 2007 at 13:59:53:

Are you buying NOO proerties? If so there are lenders that still do 100% full or lite doc, stated in hard to come by, your credit has to be good and the rates are still not the best. OO properties there are a few still doing 100% stated or full doc.

100% loans - Posted by Luke

Posted by Luke on April 10, 2007 at 12:49:38:

I recently have been told banks have cracked down and won’t lend 100%. I dont have alot of money to put down so I need to know if there are banks out there somewhere that will lend 100% or if anyone has any ideas? My credit is great and that is how I have been buying properties, but with whats going on I dont know how to buy. Please help - Luke

Re: 100% loans - Posted by Chris Cambridge

Posted by Chris Cambridge on April 15, 2007 at 16:28:51:

If you can’t get a lender at 100% they may be other methods for you. Need to have insight on what you want to accomplish.

Re: 100% loans - Posted by Ben Carmona

Posted by Ben Carmona on April 10, 2007 at 22:07:28:


It sounds like from your post that you are an active investor. 100% financing is available for investment properties. Are you buying these properties for rentals or for flips?

You are correct, as brokers, we have seen the mortgage market change over the last month and many of the 100% combo loans are gone. What is left would 100% financing with just 1 loan and no pmi. Full doc offers much better terms and is less restrictive on some of the guidelines.

One of the biggest issues you’ll run into is the lender’s review of the subject’s cash flow. Many lenders will want 12 months of the expected mortgage payment to be verified in liquid assets.

Just be sure that you are working with a mortgage consultant that specializes in investment loans nationwide.

Ben Carmona

Re: 100% loans - Posted by Brian (WA)

Posted by Brian (WA) on April 10, 2007 at 14:03:12:


Yes, there are 100% programs still available for owner and non owner occupied properties. You should find a broker that works with investors to help you out. I’m in the northwest if I can be of service to you.