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90% CLTV Home Equity

Started by questions
over 17 years ago
Posts: 3
Member since: May 2007
Discussion about
anyone aware of lenders doing this type of financing? i'm trying to finance a new consruction condo with a 10% down, 80% 1st mtge and 10% HE loan. this would have been easily done last yr but now i'm having a little difficulty finding a HE lender. thanks.
Response by babsie02
over 17 years ago
Posts: 139
Member since: Mar 2008

try the bank where you bank or a mortgage broker.

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Response by dledven
over 17 years ago
Posts: 198
Member since: May 2008

that may not happen, however did you consider taking a 90LTV all on one loan? how much is the loan for?

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Response by shong
over 17 years ago
Posts: 616
Member since: Apr 2008

Depending on your loan amount, financials, credit, etc. yes it is very possible. sunny_hong@countrywide.com

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Response by questions
over 17 years ago
Posts: 3
Member since: May 2007

thanks.

dledven - i did consider just getting one mtge but rate was high ~7% (as of 7/21) and i would have to get a PMI (this would be almost $300/mo on 470K loan amt i'm after). just trying to see if there are better options.

shong - the loan amt is 470K (90% of purchase price) and credit scores are above 750. i'll shoot you an email w/ my financials.

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