90% N.O.O. refi. possible? - Posted by Steve (GA)

Real Estate Investing
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Posted by SCook85 on January 27, 1999 at 17:39:29:

FSB Mortgage who most of you know of has a no doc, stated income no seasoning refinance program. They are not lenders they are note buyers so you have to create the note and sell it to them. They will pay me very attractive rates. I have heard less attractive rates for others so if you have a problem feel free to contact me.

SCook85

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90% N.O.O. refi. possible? - Posted by Steve (GA)

Posted by Steve (GA) on January 26, 1999 at 20:59:35:

Do lenders allow 90% LTV cash out refinance? The best I have heard of is 80%, should I take that and stop looking?

(Sorry for the incorrect wording on my last post J.P. I meant no harm.)

Steve (GA)

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Re: 90% N.O.O. refi. possible? - Posted by Erin Stevens

Posted by Erin Stevens on January 27, 1999 at 22:09:38:

I am pretty sure that what you are requesting is possible. 80% is a no brainer… several lenders provide that. Your chances of getting a 90% cash out refi depend on a few things like seasoning, amount of cash out and what type of program you will be using.

We have a couple of very strong lenders that provide this. Ask your local broker about Imperial Home Loans and Ohio Savings Bank (a portfolio lender with some strong ARM products… they offer fixed as well… in the 8’s).

Hope this helps!

Erin

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Re: Thanks guys for the replies. (nt) - Posted by Steve (GA)

Posted by Steve (GA) on January 27, 1999 at 21:41:58:

nt

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Re: 90% N.O.O. refi. possible? - Posted by Bo (GA)

Posted by Bo (GA) on January 27, 1999 at 07:02:31:

Yes, it is possible, as I did one about 6 months ago. NOO, 90% and cash out -> 9.5% interest, 30 years + prepayment penalties for 2 years. The lender was Associates Home Equity Services, based in Dallas, TX (as far as I can remember). No affiliation.

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Re: 90% N.O.O. refi. possible? - Posted by Joey P SE AL

Posted by Joey P SE AL on January 27, 1999 at 03:08:57:

Me, too!

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Re: 90% N.O.O. refi. possible? - Posted by SCook85

Posted by SCook85 on January 27, 1999 at 24:40:06:

Steve,
I know of a program that allows you to do an 85% cash out refi with no docs. Interest rates are not that great but it is doable.

SCook85

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Re: 90% N.O.O. refi. possible? - Posted by Johnman

Posted by Johnman on January 27, 1999 at 01:16:32:

SCook85,

Would you mind sharing that info? I’m interested!

Thanks,

Johnman