Long story short. Working with Major bank in SE Florida. Caem out to close and in the 11th hour they can't do my loan. I fit all teh reqwuirements.Excellent creditSelf-employed (22 years)Investment Condo (being rented)Fannie Mae ApprovedLTV 200%Fannie Mae said there is a appraissal waiver on my account (however I got one recently since the bank wanted one)Can anyone help me? by razzzy from Boynton Beach, Florida. May 22nd 2012
You didn't explain why you were denied, so it's going to be hard to answer your question.. However there is one mistake you made.. I would never advise anyone to use a "Major Bank" in any state, for any loan.. The local mortgage broker is your best bet because he has access to numerous lenders with numerous lending programs and can seek out the right loan for your particular scenario.. Plus he has lower overhead and can offer you lower rates and fees then the big boys.. And using someone local, you get someone who is familiar with local customs and polices, so your transaction will go much smoother... I'm a lender / broker in Scottsdale Arizona and I only lend in AZ. If you or someone you know is in need of financing, please feel free to call or pass on my information. 480-287-5714. WilliamAcres.com
Our short answer is that no one here can answer your question without a full application, and review of your individual situation. Loans don't fall apart at the last minute. Rather someone screwed up early on (the Loan Officer) and promised what couldn't be delivered. In your case, you are working with a "major bank". That is half the problem. Did you know bank loan officers are not licensed, and should be looked at more of like an application clerk rather than a true professional? Contact a LICENSED local non-bank mortgage professional for a second opinion, and good luck.
Yes I can help you. We do investment condo's with unlimited LTV for HARP 2.0. We specialize in the HARP 2.0 program. Give me a call, I will be working another couple of hours tonight or in the morning is fine. 888-320-7888 - www.MortgageWholesale.net - Ken
Be glad to help you get beyond this delay. Call me today and we will quickly get the answers you need to move forward to complete your loan. Mark 800-485-1387 Extension 107
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