Posted by Patrick S. Lawson on April 26, 2007 at 19:20:38:
The fastest way to do this is as a “no-doc”, it is also the most compliant way. Miami is a hotspot for loan fraud and a stated NOO cash out is going to face serious review in UW.
With a no-doc program you are looking at a rate of only .125 - .250% higher than stated.
need re-fi on investment property - Posted by Dan
Posted by Dan on April 26, 2007 at 12:17:31:
Need to re-fi an investment property in Miami
ASAP, credit score 610 but have $250K cash in bank
which can be confirmed
need stated, bo doc, self employed 1st is $178
house is worth $310k
If you can get this done fast email
Dan
Re: need re-fi on investment property - Posted by Ben Carmona
Posted by Ben Carmona on April 26, 2007 at 19:47:13:
Dan,
There’s many questions that need to be addressed here. You didnt mention if you needed cash out above the current 1st. If so, what ltv were you looking for and how long have owned the property?
If you did go self employed rather than no doc, how long have you owned the company?
Financing investment properties is easy if all the right info is taken upfront.
You should be working with a nationwide mortgage planning consultant that specializes in investment loans such as this.
Ben Carmona