The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Tradelite who wrote (21729)	6/18/2004 5:17:20 PM
From: Israel	Read Replies (1) of 306849

Believe what you like.. But I have been in this business for over 10 years now.. These loans are available to people who chose, for whatever reason to not document their income or assets. Sometimes, yes at a higher rate.. But in most cases, some lenders will qualify an individual based solely on their mean credit score and the amount of initial equity on the home (ie down payment.. 80% LTV in most cases)... In fact, the highly touted 1 month Option ARM available thru Washington Mutual and a few other banks, can be presented as a no income no asset verification loan. This loan, offers a minimum payment option as low as 1.25% based on a 30 year Amortization (also has 3 other payment options you can chose, including interest only, or a regular 30 or 15 year based on the index (1.25) plus a margin set by the lender. Israel

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next