This was a Mira Mesa listing that I mentioned before in Summerset. The loan funded today, it was a 100% financed deal, not a jumbo, a conforming first loan and a second. I do not recall the rates on the second. We (I represented the seller) opened escrow at the beginning of the month and closed early due to fear of the lender pulling out of the deal.
The lender was Countrywide. As I said I do not recall the details of the rate on the second, but I can ask the buyers agent what it was. This funding was probably some of that credit line money Countrywide got last week.
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
The point was to point out to the forum that there is 100% financing available.
I don’t advocate it, I would never do it personally, nor would I ever recommend for any of my clients to do it. It is also true that many fewer lenders are offering 100% programs and they are harder to find. However I would never post they are “all gone” until they really are all gone.
Hopefully people will not think this is a bullish post or anything like that.
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