I need a lender to refi. my houses - Posted by Mike

Posted by JR on March 12, 2001 at 13:39:45:


Go see a Mortgage Broker in your area! List your credit cards on the debts to be paid off on the 1003 loan application supplied to you by your mortgage broker. If he has a problem because of seasoning issues tell him to try Freemont. Rates are a little hi but I am sure they can do it. You will need an appraisal for the propertys. Have you documented the rehab? it will help. If you are around 65-70% it should not be a problem.

Good luck,

Jonathan Rexford
1st Metropolitan Mortgage

I need a lender to refi. my houses - Posted by Mike

Posted by Mike on March 12, 2001 at 12:48:47:


I’m in a precarious position. I have three properties that have been rehabbed and ready to go. None of the houses have mortgages on them and I need to get cash out ASAP. I want to refi. all of them, but have gone to a couple of lenders that tell my debt-income is to high. The reason for this is because I use credit cards and lines of credit to finance the purchase and rehab of these bldgs. My credit is very good, so I know that’s not an issue. The problem is getting it through the underwriter’s head that I have every intention of paying all these lines off if I could just get the cash out of these houses.

I need a lender that thinks like an investor, not just a robot that looks at numbers without considering the whole picture.

Can anyone offer some advice.


Re: I need a lender to refi. my houses - Posted by steve carey

Posted by steve carey on March 12, 2001 at 18:34:18:

Steve Carey specializes in lending to investors in your type of situation. call him at 513-281-9531