Mortgage Brokers Who Can Do This Mortgage Loan?
Have to broker out another loan.
Construction to Perm
Remaining 10% of loan to come from HELOC
Credit score 713
Looking to do a 5 Year Interest Only Fixed Rate or
30 Year Fixed or
Best rate so far is 6.625, but with PMI.
Just called Indy Mac. They require 2 months of bank statements showing twice the amount of your income in cash flow. So if you make 50k a year, you have to show 100k moving in and out of your bank account. This is not a “stated” program. They are just making you show your income in another manner.
Only serious answers please. No more “Bob” answers. Thank you.