Mortgage and Lending with Young Mortgage & Investment Group

I have a couple of scenarios I need help with...

1) Need Conventional:

O/O, R/T Refi, Full Doc, 60% LTV, 55% DTI, 654 score, BK ch7 Disch. 11/05, Mortgage is only active tradeline, no lates; can supply non-traditional tradelines

2) Stated, Hard Money or Private Investor

O/O, Purch, stated, 70% LTV, 688 score, self-employed; changed line-of-work w/in the year, loan amount < $ 100,000

Any suggestions would be appreciated, Thanks!!

Comments (3)

Kevin & Maryellen Garasky
KMG Mortgage Group - Kevin & Maryellen, Idaho & Washington - Coeur d'Alene, ID
KMG Mortgage Group - ID & WA

1 - FHA.  DTI is high, but your LTV may be compensating factor.

2 - I have no idea.  Good luck with that one!

Oct 22, 2008 04:29 PM


Oct 22, 2008 05:01 PM
Randy Bolton
None - Diamond Bar, CA

Let us know if/how you get these done.  That's how we learn from each other. 

1st scenario is too high DTI considering BK 7.  BK 7's can be done much easier with lower DTI's.

2nd scenario looks bad.  Self employed is bad enough, but changed lines of work?, and has no seasoning on 2nd job?  That's a very high risk loan.

Please provide an update on the status of these loans.  If they were achieved, etcetera.  Thanx!!



Jan 02, 2009 08:11 AM