SIVA HELOC

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Icon Mini Profile 1KALITO




Joined: 18 Aug 2009

Posts: 1

1.31 Dollars($)
PostPosted: Tue Aug 18, 2009 1:39 pm    Post subject: SIVA HELOC

NEED A SIVA HELOC ON AN SFR INVESTMENT PROPERTY IN AZ,800 FICO, FREE AND CLEAR TITLE,PROPERTY VALUE 120000.CURRENTLY RENTED FOR $1100, ANY IDEAS?
Icon Mini Profile adonis
adonis



Joined: 22 Oct 2005



Posts: 3852
Location: ALASKA
120.89 Dollars($)
PostPosted: Tue Aug 18, 2009 7:59 pm    Post subject:

Hi KALITO,

Stated income loans are hardly available these days. Keeping in mind the present market situation, most of the lenders have stopped giving the stated income loans. In this situation, I don't think you would get a stated income loan for an investment property.

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Icon Mini Profile gmakerley
gmakerley
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Joined: 09 Nov 2007

Posts: 7447
Location: bloomfield, ct
70.06 Dollars($)
PostPosted: Wed Aug 19, 2009 12:39 pm    Post subject:

not only are stated income loans virtually disappeared, but heloc on an investment property is a rarity, as is the stated/investment scenario.

i'm not confident that you'll find a lender willing to grant such a loan.

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Icon Mini Profile fredwaltz




Joined: 17 Aug 2009

Posts: 60

1.12 Dollars($)
PostPosted: Thu Aug 20, 2009 10:10 am    Post subject:

I think it will be possible if both the applicant including your spouse is also made co-applicant in the case then there will be some chances of getting the loan.

Have you ever taken loan previously for the business purpose, you can show them the track record of repayment so it will be an added advantage.
Icon Mini Profile gmakerley
gmakerley
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Joined: 09 Nov 2007

Posts: 7447
Location: bloomfield, ct
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PostPosted: Thu Aug 20, 2009 10:13 am    Post subject:

sure
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George M. Akerley
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860-221-5044
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