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 muziklover
Joined: 14 Oct 2009
Posts: 1
1.30 Dollars($)
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 Posted: Wed Oct 14, 2009 4:40 pm Post subject: Do you know of any lender that will refinance for someone wh |
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I am trying to refinance my home loan (560K) on a property in CA, Los Angeles County that is worth over a million. Have excellent credit history and FICO score...None of the big banks would refinance the loan due to my debt-to-credit ratio.. Always paid more than the monthly mortgage amount and pay all the credit cards in full. NO payments other than the home loan.
Need a lender that will refinance our home loan. |
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gmakerley
Community Mentor
Joined: 09 Nov 2007
Posts: 7405
Location: bloomfield, ct
62.63 Dollars($)
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| Posted: Wed Oct 14, 2009 5:06 pm Post subject: |
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not even 5 years ago would a 66% ratio work. the highest i ever saw was 64.9%. automated underwriting wouldn't go over the 65% threshhold and now you've had enhancements to that so ratios must be less. you need to shave some debt first.
_________________
George M. Akerley
Loan Consultant
860-221-5044 |
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