There are loans available to primary residence homeowners that allow ARVs in the 90s---the cap for investors is between 80-85 ARV depending on where you are investing...
I've never heard of anyone doing that but I'm not in the mortgage business. I will say that because of all the "credit crunch" talk the regulators are wanting my bankers to reduce from 80% to 75% LTV. They told them they couldn't for market reasons but things are definitely changing in other areas I'm having to adjust to.
We are talking about two different animals---you are referrring to LTV based lending and I'm speaking of ARV based lending...
They do exist in the forms I suggested...
Regards,
Scott Miller
Originally posted by "Maccius":
I've never heard of anyone doing that but I'm not in the mortgage business. I will say that because of all the "credit crunch" talk the regulators are wanting my bankers to reduce from 80% to 75% LTV. They told them they couldn't for market reasons but things are definitely changing in other areas I'm having to adjust to.