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kimbui21s · Joined: 18 Dec 2008 Posts: 1 1.69 Dollars($)

loan amount $405,000
house valuse 950,000
can i get 30yrs fixed
my current rate is 8.5%adjustable
house current rent for $6000/ a month

Niicss · Posted: Thu Dec 18, 2008 2:24 am Post subject:

Hi kimbui

You have mentioned that your current rate is 8.5% adjustable. As far as I can understand, you want to refinance the mortgage at a lower rate. Well, I think no doc loans or stated income loans are still available. You can speak to your current lender and check out the terms and conditions he is offering you. If you do not find them affordable, you can also check out the options available with other lenders.

Thanks

evolovik26 · Posted: Thu Dec 18, 2008 8:22 am Post subject:

There is no stated no docs loans anymore
You need to see if you qualify normally

Guest

We can do them only in NJ and CT and nine counties in NY. I do not know what state the property is in.

gmakerley · Posted: Mon Dec 29, 2008 9:18 am Post subject:

to eugene...amazingly enough, john (whose post follows yours) is a broker who has access to no-doc loans. i've seen evidence of them, in fact. our office had a potential client who ended up elsewhere, but i know that they exist still.

i know it's hard to believe, but there seems like there's always an investor or two out there willing to do the oddball deal.

Guest

i have 6 properties and 4 mortgages. 5 of my properties are rental units and make a profit. i have 800 plus credit , problem is i`ve been told is the government will only allow 4 mortgages. i really would like a 5th on the one i own outright so i can pay down on my credit card

Posted: Thu Jan 29, 2009 12:26 am Post subject:

To pay off the credit card debts, it will be better if you can go for a debt consolidation or a debt settlement. I don't think taking a loan for paying off credit cards will be a good option for you.

eric1 · Posted: Thu Jan 29, 2009 6:20 pm Post subject:

The original post asked if there were no doc OR stated income. No reference to a combination of both. So, yes you can easily find a stated income loan for a loan amount of $405k and an LTV of around 50%. However what may be an issue is if this is an investment property.

Right now, stated income loans can be found in many states including New Jersey, New York, Connecticut and California.

eric1 · Posted: Thu Jan 29, 2009 6:21 pm Post subject:

One more thing...your credit score will also have to be excellent

Guest

Where is the property located maybe I can help. Please goto myezloanquote.com and fill out an online application. I'll tell you right away if I can help you or not.

Best regards,

Joe

gmakerley · Posted: Mon Mar 09, 2009 8:19 am Post subject:

joe, please stop the blatant advertising!

eric1 · Posted: Thu Oct 15, 2009 12:02 pm Post subject:

Stated income loans and mortgages are still available in NJ, NY and CT. Excellent rates given the reduced documentation. No income verification or no income documentation are available.

The problem is there are huge numbers of people in California who need a stated income loan. Unfortunately, there is only one lender left (that I know of) and I am working with them.

Guest

Any lenders in Florida that will do a no doc loan with 50% down, credit score in the high 700;s

gmakerley · Posted: Fri Feb 19, 2010 11:45 am Post subject:

we've not heard of anybody in florida that's in that business anymore.

Guest

davide: try first national bank of america out of lansing michigan, and florida home trust

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do you still have no doc loan or stated income loan