I have used local banks and a local mortgage broker. I get mailings now and then offering 100% investor loans. I have been quoted around 8% lately with no points. They have been telling me they are getting harder to do, but they still do them. I know no large banks do them here (US Bank, Wells Fargo).
From my looking, I have found 100% but at a cost. Closing costs are high and either you pay PMI or do an 80/20 slit. The interest rate on the second is high (credit score of about 730)
call up a reputable loan officer in your neighbor hood. The broker world can save you a lot of money, because many of the best invester lenders, do not a have a traditional building to walk into. Ask some friends who treated them right. Greenpoint is one of the best investor lender.
I have used local banks and a local mortgage broker. I get mailings now and then offering 100% investor loans. I have been quoted around 8% lately with no points. They have been telling me they are getting harder to do, but they still do them. I know no large banks do them here (US Bank, Wells Fargo).
From my looking, I have found 100% but at a cost. Closing costs are high and either you pay PMI or do an 80/20 slit. The interest rate on the second is high (credit score of about 730)
call up a reputable loan officer in your neighbor hood. The broker world can save you a lot of money, because many of the best invester lenders, do not a have a traditional building to walk into. Ask some friends who treated them right. Greenpoint is one of the best investor lender.