Find four seperate banks and do four FHA purchases all at the same time arrange the closings 2 on the same day and the next two the day after.  you could get a higher LTV o/o 97.75% financing on each.  use all four as primary residences.  it’s been done before! i wish they were in new york boy!  alot of points…

I am looking for a lender to match a scenario that has been presented to me.  I have a client looking to purchase (2) 4-unit buildings and (2) 2 unit buildings.  The client has 750 scores and has a history of managing buildings.  This would be a full doc loan.  The only catch is that she has been quoted an 80/20 deal on all the properties with a 7% first (30 year fixed) and an 11% second (15 year).  Both loans are there in an institutional form.  I have been doing loans for quite a long time, and either I missed something, or I am losing touch with todays programs, but I have never heard of a second mortgage non-owner occupied product that Fannie/Freddie will allow to max a 100% ltv.  Any suggestions?  All the properties are located in the state of Illinois.

I need a lender that will give me at least 90% on a new construction home, FICA scores are low due to borrower having his son, the third-III, credit on it, all other credit has been paid. (540 average credit score, 0 X 30 day) We have letters and prove that credit isn’t his-minor credit only nothing major. Borrower has never been late on his mortgage for a house recently sold, live in it 30 years.  all credit current.  Retiring in Florida and building a new home. Needs to close at the end of the month, package is ready to go. Cost of home is 208,000 wants to only put down 10%.  Full doc, DTI 39%