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80/20 and 100% ltv options?

Valued Member

80/20 and 100% ltv options?

My wife and I are currently under contract for our new home in Auburn, WA. I currently own two other properties that are rented, and am trying to get a feel for what terms are out there now? I have been told by a few friends in the industry that 80/20's are alot harder to come by now. I am looking for 100% financing or an 80/20 with closing costs wrapped in the loan (no cash requirement). My mid is 710 and my wife is around 690.Need a jumbo loan for $500k.  Is this still easily doable?
From Chapter 13 discharge and low 500s in 2015 to EQ: 781 TU: 767 EX: 794 in 2017...Make your vision your reality.
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Frequent Contributor

Re: 80/20 and 100% ltv options?

yes it is doable, however, you need to shop around for a good loan broker ( not officer ). As there is a push to sign up all new loans to be as expensive and as less paperwork/legwork for loan officer. So they may not be so incline to spend hours finding you the correct loan package for you. They will present you with universal offers: like take it or leave it because there in nothing else better.
You need good relation with real estate agent and ask him/her for help.
 
Good luck.
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