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90% LTV mortgage?

My husband and I are interested in purchasing a second home. We live in new York and the property is in CT. Are 90% loan to value mortgages still available? We have excellent credit. by Nicmus_693_131 from Long Island, New York. Apr 27th 2012 Reply


Mohammad Hussain (Lyons1)
#62 ranked lender in New York - 15 contributions

Give us a call at 718.267.2000 and we can help you. We are a local direct lender located in Astoria, Queens.

Apr 27th 2012
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

90% LTV loans are available.. However, it's going to be tough to find one for a 2nd home... The best advice I can give you is to contact a LOCAL mortgage broker in the area you are considering, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 27th 2012
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gary schneider (gschneider47)
#46 ranked lender in New York - 24 contributions

90% loans are available in conn. you will need a lender licensed to do business in the state. if you call me i can direct you. garys 631-338-3022

Apr 27th 2012
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Thomas J. Liolos (tliolos)
#38 ranked lender in New York - 16 contributions

@nd Homes at 90% are available in NY...... There is mortgage insurance available as well - so as long as its a single family home - There should be no problem.....

Apr 27th 2012
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Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions

You'll want to talk to a local mortgage professional in CT, then. 90% is available still on second homes, but not every lender wants to do them; you should plan on either having mortgage insurance on it, though, or see if you can find a portfolio loan program that doesn't require mortgage insurance (self-insured by the lender). You'll probably want to talk to a CT mortgage broker, specifically, so he/she can do the searching and shopping for you. If you plan to buy in an area that is primarily vacation/second homes, a local realtor can likely direct you to the right mortgage person for you.

Apr 27th 2012
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

90% second home loans are available. You will want to work with a CT based lender, or a lender local to you that is also licensed in CT. Don't work with one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Apr 27th 2012
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MIKE CONVIN (mconvin)
#6 ranked lender in Delaware - 202 contributions

HI: 90% LOANS FOR 2ND HOMES ARE AVAILABLE....I WOULD SUGGEST WORKING WITH A LOAN OFFICER THAT IS KNOWLEDGABLE OR SPEAK WITH SEVERAL LOAN OFFICERS TO GET FEEDBACK...WORKING WITH A BROKER OR A BANK DOES NOT REALLY JUSTIFY IN ITS ENTIRY....WORKING WITH A KNOWLEDGEABLE LOAN OFFICER IS THE MOST IMPORTANT FACTOR....I WORK FOR A CREDIT UNION LENDING IN ALL 50 STATES, WE OFFER IN HOUSE PROGRAMS AS WELL AS BROKERED PROGRAMS GIVING THE FLEXIBILITY...MIKE (NMLS 754875) 703 505 5300

Apr 27th 2012
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