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How could I qualify for such a loan. Im willing to put down a large deposit for a condo.
There is no longer such a thing, however if you have a stong balance sheet and income derives from somewhere, we can discuss a low loan to value loan.
Once there were unicorns....
that's so 2004-6......
why do you think we've had a meltdown?????? it wasn't the weather.
Try Hudson City Savings Bank & Apple Bank; also check with various mortgage brokers, there is a program called "Asset for Income", where if you show a substantial amount of assets, they don't put that much emphasis on "Income". I don't know what type of ratios you need to qualify, but I know it exists. But I am assuming that besides the large downpayment, you do have liquid, illiquid & preferably some income-generating assets...
Appreciate your help. I did this back in 1990 where i put 400k towards a property that I purchased for 1 mil. I paid i think a point or 2 higher but didn't have to tell the mortgage broker or bank how I made my money. They figured if i defaulted look at my loss.
1mil in 1990 would be worth at least 15mil today. why do you even need a mortgage?
to buy a big-screen teevee
Ba294... The property was in CROOKLYN and sold it years ago
@MIBNYC - 40% downpymt is no longer considered "large". Unfortunately, today, if you really do not want "income" verification, you need to put down more than 50% PLUS have verifiable assets, with recent appraisals. Like I said, "income-generating" assets that can be verified & appraised, are the best.
I hate to break it to you, but 1990 was a realllly long time ago & times have realllly changed since then...
i think the fha 3% down loans are such kind. you may need to belong to certain ethnic groups to maximize your privilege
you r so fuk'd up. and your english is painful, which may or may not be your fault, but your posts are horrible. just saying.
>and your english is painful, which may or may not be your fault,
Who else's fault could it be?
mom, dad, faulty educational system. really, HB, think outside the box.
No, I think in the box. People are responsible for themselves. Blaming an educational "system" for an individual's personal failings seems un-American.
But maybe caonima is from foreign parts.
No Income loan products do not exist.
The FHA program requires 3.5% down payment, is a full income verification loan. As far as "ethnic groups" that is ridiculous; no loan program ANYWHERE limits a person's ability to qualify based on race, marital status, age or sex.
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker %u2013 NYS Dept. of Financial Services
516-829-2900 ext. 105
Apple Bank >>> hmmmmmmmm