A Lender for Refi - Posted by WilliamGA

Posted by Sharonda on December 13, 1999 at 18:16:13:

I think I can have a lender that only requires 6 months seasoning. Try UC Lending either through your local phone book or directory assistance. Good Luck!!

A Lender for Refi - Posted by WilliamGA

Posted by WilliamGA on December 13, 1999 at 16:34:46:

Hello all,

I currently have 2 properties that I need to get a refi loan on. One has a 70% LTV balance on and the other a 75% LTV balance. Each currently have tenants with 1 yr leases and both have a cash flow in excess of 200.00 per month (each).

Can anyone help me with finding a lender who will do a refi loan on these 2 properties? I have not owned them for a year yet and that seems to be the problem with all that I have found so far. My credit is excellent, by the way.

Thanks in advance,

WilliamGA

Re: A Lender for Refi - Posted by Peter Register

Posted by Peter Register on December 14, 1999 at 17:36:02:

Try George Jay with reoweb@bellsouth.net in Atlanta.
He has several lenders for investors with little seasoning, high ltv’s and multiple properties.

Re: A Lender for Refi - Posted by Steve-Atl

Posted by Steve-Atl on December 14, 1999 at 09:00:01:

William,

I use First Mortgage Solutions in Atlanta. Ask for Jim Hartman. They have always been very helpful for me.

Steve

Re: A Lender for Refi - Posted by MtgBrkFLA

Posted by MtgBrkFLA on December 13, 1999 at 20:43:16:

Check w/ a local mortgage broker. Soluna Mortgage Co. is one wholesale Lender who has a refi NOO program w/ only 6 months of seasoning. I believe the cash out LTV goes to 85%. Note- some Lenders require “seasoning”. As you stated above some want 12 months. But, did you know you could still Refi if your seasoning was less than 12 months (or 6 months w/ Soluna) ? The only diff is that your LTV would be computed using your Purchase price.
Hope that helps !