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We are pretty much in an industry where 100% financing is nearly impossible to find even for owner occupied homes. It's the proverbial "needle in the hay stack". When you do find it, it's tough to close. There are way too many restrictions. Ten years ago, every lender that I knew of wanted at least 20% to 25% down on a non-owner occupied home. It's the same now. No one is buying these papers on Wallstreet, therefore, it's too much of a risk to fund this type of loan and to risk carrying that paper through to term.
The max loan to purchase value that I can do is 90% (Full Doc or Stated Income).
Michael Jaramillo
wholesale Account Executive
All American Finance
Serving all of California!
Northern CA (209) 607-4886
Southern CA (626) 393-9930
Submission Fax: (866) 863-6886
Michael@allamericanfinance.com
http://www.allamericanfinance.com/