cancel
Showing results for 
Search instead for 
Did you mean: 

Thoughts on a Portfolio Loan

tag
theprat
New Contributor

Thoughts on a Portfolio Loan

I am beginning to explore the possibility of a Portfolio Loan....

 

Any thoughts or opinions on them? I am still another year out till 3 year FHA period ends from a foreclosure.

 

This seems to be an option to get into a house now.

 

David 

 

David- Discover TU- 692 FICO EQ- 698 Lender Pull EXP-708
AMEX Sr Gold
AMEX Delta 2k
AMEX ED 9K
Chase Freedom 4.5k
CSP 7k
Chase Marriott Premier 10k
Lowes 3,600
Best Buy 8k
Message 1 of 3
2 REPLIES 2
ShanetheMortgageMan
Super Contributor

Re: Thoughts on a Portfolio Loan

Really depends on what the terms are, there are more portfolio type programs coming out to bridge the gap between Fannie, Freddie, FHA & and hard money loans.  One lender out here is actually rolling out a 1-day out of foreclosure, 20% down program next month.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 2 of 3
ezdriver
Senior Contributor

Re: Thoughts on a Portfolio Loan

One of my customers is closing on 5/30 using a 5/1 ARM @ 6% with 20% down. He's one year out of foreclosure.

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.