Mortgage Loans

[Boscoe]

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.

[DallasLoanGuy]

Many will.

90% isn't difficult.

More details?

debt ratios?

credit scores?

[Boscoe]

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.

[DallasLoanGuy]

refinancing the second is a good option.

[Boscoe]

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

[DallasLoanGuy]

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.