Can I get second mortgage with bad credit?

ckalvesmaki · Posted: Tue May 01, 2007 4:49 pm Post subject:

There are other options than fannie mae........the majority of second mortgages are done by investment banks.......with no limits

sagarthakar · Joined: 15 May 2007 Posts: 68 25.93 Dollars($)

The best way : Visit Option One Mortgage website they have ample of Second Lien products available with them and also lend for poor credit history.

Speak with a rep of Option One and ask for Double Decker Feature, your query might get solved

Guest 0.10 Dollars($)

what is the maximum fannie mae loan limit that is allowed for second mortgages this year for a 3 unit property?

blue · Posted: Sat Jun 09, 2007 7:31 pm Post subject:

Hi Bphensel,

Welcome to Mortgagefit discussion board.

The maximum Fannie Mae loan limit for second mortgages this year is at $322,650 and it is $483,975 for Alaska, Guam, Hawaii and U.S. Virgin Islands.

But let me also tell you that the sum of original loan amounts for the 1st & 2nd mortgage cannot be more than the maximum loan limit fixed for 1st mortgage by Fannie Mae.

Do let me know if you have any other questions.

Thanks
Blue

terry16844 · Joined: 11 Jul 2007 Posts: 1 1.62 Dollars($)

For information on bad credit mortgage loans go to "http://freecreditinfo.biz"

[Link Deactivated - As per Forum Rules]

Guest 0.10 Dollars($)

Im looking for a second mortgage of $100000. with the first 3 years interest only, I have medium credit and plenty of equity! But I work for myself and I have no way to prove income!

Niicss · Joined: 03 Oct 2005 Posts: 1039 154.84 Dollars($)

Welcome steven.

So you want to have home equity loan... right. Your credit is medium and also you are self employed. So the rate of interest is going to higher comparatively. By the way you can request for no-obligation free mortgage quote to the community lenders. You just need to give minimum details.

Hope it helps. Let me know if you have any further queries.

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