Refinancing in Arizona

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Johnson

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PostPosted: Wed Jan 16, 2008 5:49 am    Post subject: Refinancing in Arizona

Need to refinance worth $520,000 on NOO property. Fico score 620 and expected LTV = 80%. And I'm in Arizona
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Icon Mini Profile ckalvesmaki

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Joined: 28 Jan 2006

Posts: 378
Location: Dallas
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PostPosted: Wed Jan 16, 2008 6:16 am    Post subject:

Is there a renter currently in the house? Are you able to proove your income? Can you tell us a bit more about your situation.
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Cedric Kalvesmaki
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Icon Mini Profile evolovik26
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Joined: 15 Aug 2007

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Location: Minneapolis
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PostPosted: Wed Jan 16, 2008 6:42 am    Post subject:

If its a full documentation loan then i dont see a problem although some banks may want to cut you to 75%. If you need a stated deal you might have a problem
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Joined: 13 Nov 2007

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Location: Florida
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PostPosted: Thu Jan 17, 2008 5:27 pm    Post subject:

Hopefully your going to be able to fully document your income. If that is the case you should be able to get this loan done.

If you have to go stated hopefully you have some assets to make a lender a bit more comfortable with the loan.

If you don't have a way to prove income and have no assets this may be a very difficult loan for you to get funded.

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Icon Mini Profile lisascherzer




Joined: 04 Jan 2008

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PostPosted: Sat Jan 19, 2008 4:24 pm    Post subject:

Hi Johnson,

Yes you should be able to get this loan done within the perameters that you have mentioned. You have a couple different options at this point.

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