Posted by Cosette Austin on September 11, 2003 at 19:48:25:
You can find 100% stated or full doc owner occ anywhere. I was referring to 100% NON-OWNER occupied investment property loans and you can go stated or full doc but, of course the rate is better full doc. But the compromise from an investment stand point is getting into a property with little to no money down. With the higher interest rates on 100%, NON-OWNER, STATED loans there is little to no profit margin if you’re looking to rent it.
Just think about it… Non-Owner (risk 1) 100% (risk 2) and last but not least Stated (BIGGER risk #3). So of course the ‘investor/lender’ is going to charge a higher interest rate above prime.