Mortgage loans with Combined Loan To Value of 110 percent are here
According to what I hear, Wells Fargo will begin to underwrite refinance mortgage loans for up to 110 percent in Combined Loan To Value (CLTV). That means that if you add all the mortgages and lines of credit against your property, and divide them by your house market value, the resulting ratio can be 1.1 or 110%. In other words, starting May 4th, Wells Fargo and then undoubtedly others are willing to loan you 10 percent more than your house is worth. Minimum credit score is only 620 if this is your primary residence and 680 for second home and investment. Check with your favourite mortgage broker or Wells Fargo if interested on rates and terms.
Sat May 2, 2009 01:05AM | Copyright: www.bad-credit-advisor.com | More in Mortgage | Comments (0)
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