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Any 90% LTV Mtg loans out there?

Established Contributor

Any 90% LTV Mtg loans out there?

I am looking for a bank that will do a 90% LTV (both loans combined).  Either the same lender for both or a lender who will do a 2nd home equity loan up to 90% Loan to value.

 

My 1st mtg. is about 65-70% LTV right now.

 

Any recommendations or suggestions?   I am in the northeast.

 

Thanks.

Message 1 of 6
5 REPLIES
Super Contributor

Re: Any 90% LTV Mtg loans out there?

Many will.

90% isn't difficult.

 

More details?

 

debt ratios?

credit scores?

 

Retired Lender
Message 2 of 6
Established Contributor

Re: Any 90% LTV Mtg loans out there?

Debt ratio not an issue, below 25%

 

Credit scores - lowest 680, middle is 690-700, probably closer to 700.

 

My issue is going to be with the appraisal.   I am definitely not upside down, but not sure if all appraisals will come in at 10% higher than the amount of my existing loans.....I would estimate that the 90 LTV will probably be the answer, but could be 95%........

 

Options?   Ideally, I would just refi the 2nd and leave the 1st (30 year fixed at 5.0%) alone.

Message 3 of 6
Super Contributor

Re: Any 90% LTV Mtg loans out there?

refinancing the second is a good option.
Retired Lender
Message 4 of 6
Established Contributor

Re: Any 90% LTV Mtg loans out there?

Ok, DLG, I hear you.  Now, any lenders you know of that do this?   Refi the 2nd is what I want to do, ideally.
Message 5 of 6
Super Contributor

Re: Any 90% LTV Mtg loans out there?

most banks. check with a credit union too. internet lenders are probably going to be a dead end.

almost no broker will touch a second lien.... except there is a guy here who says his broker does loans down to $25K.

 

 

 

Retired Lender
Message 6 of 6