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IONEGARM
ParticipantI’m with waterboy. Finance the money at purchase you get the best of all worlds, rates and protection (unlikely you’ll need recourse protection but it is better to have than not).
You can always submit the offer with no financing contingency so if everything blows up on the finance side you still close the deal all cash. That would be an extremely strong offer and you get everything you want right up front.
I’d check with a broker on seasoning, some guidelines say that you have to be on title for 12 months before before allowing cash out. Another factor to consider if you are trying the refinance later route.
ParticipantI’m with waterboy. Finance the money at purchase you get the best of all worlds, rates and protection (unlikely you’ll need recourse protection but it is better to have than not).
You can always submit the offer with no financing contingency so if everything blows up on the finance side you still close the deal all cash. That would be an extremely strong offer and you get everything you want right up front.
I’d check with a broker on seasoning, some guidelines say that you have to be on title for 12 months before before allowing cash out. Another factor to consider if you are trying the refinance later route.
ParticipantI’m with waterboy. Finance the money at purchase you get the best of all worlds, rates and protection (unlikely you’ll need recourse protection but it is better to have than not).
You can always submit the offer with no financing contingency so if everything blows up on the finance side you still close the deal all cash. That would be an extremely strong offer and you get everything you want right up front.
I’d check with a broker on seasoning, some guidelines say that you have to be on title for 12 months before before allowing cash out. Another factor to consider if you are trying the refinance later route.
ParticipantI’m with waterboy. Finance the money at purchase you get the best of all worlds, rates and protection (unlikely you’ll need recourse protection but it is better to have than not).
You can always submit the offer with no financing contingency so if everything blows up on the finance side you still close the deal all cash. That would be an extremely strong offer and you get everything you want right up front.
I’d check with a broker on seasoning, some guidelines say that you have to be on title for 12 months before before allowing cash out. Another factor to consider if you are trying the refinance later route.
ParticipantSomeone mentioned that the DTI on conforming jumbos are capped at 45% and 417k are capped at 60%, it is my understanding that they only look at the back end ratio and dont look at front end. Is this true?
ParticipantSomeone mentioned that the DTI on conforming jumbos are capped at 45% and 417k are capped at 60%, it is my understanding that they only look at the back end ratio and dont look at front end. Is this true?
ParticipantSomeone mentioned that the DTI on conforming jumbos are capped at 45% and 417k are capped at 60%, it is my understanding that they only look at the back end ratio and dont look at front end. Is this true?
ParticipantSomeone mentioned that the DTI on conforming jumbos are capped at 45% and 417k are capped at 60%, it is my understanding that they only look at the back end ratio and dont look at front end. Is this true?
ParticipantSomeone mentioned that the DTI on conforming jumbos are capped at 45% and 417k are capped at 60%, it is my understanding that they only look at the back end ratio and dont look at front end. Is this true?
ParticipantWhile HELOCs are recourse, to get recourse the lender has to pursue a judicial foreclosure. Not something likely to happen in California. Once the trustee sale happen it wipes out everything. So unless the HELOC buys out the first and judicial forecloses on the house.. they have no recourse. From a practical point of view, high LTV HELOCs in a declining market in California are non-recourse.
ParticipantWhile HELOCs are recourse, to get recourse the lender has to pursue a judicial foreclosure. Not something likely to happen in California. Once the trustee sale happen it wipes out everything. So unless the HELOC buys out the first and judicial forecloses on the house.. they have no recourse. From a practical point of view, high LTV HELOCs in a declining market in California are non-recourse.
ParticipantWhile HELOCs are recourse, to get recourse the lender has to pursue a judicial foreclosure. Not something likely to happen in California. Once the trustee sale happen it wipes out everything. So unless the HELOC buys out the first and judicial forecloses on the house.. they have no recourse. From a practical point of view, high LTV HELOCs in a declining market in California are non-recourse.
ParticipantWhile HELOCs are recourse, to get recourse the lender has to pursue a judicial foreclosure. Not something likely to happen in California. Once the trustee sale happen it wipes out everything. So unless the HELOC buys out the first and judicial forecloses on the house.. they have no recourse. From a practical point of view, high LTV HELOCs in a declining market in California are non-recourse.
ParticipantWhile HELOCs are recourse, to get recourse the lender has to pursue a judicial foreclosure. Not something likely to happen in California. Once the trustee sale happen it wipes out everything. So unless the HELOC buys out the first and judicial forecloses on the house.. they have no recourse. From a practical point of view, high LTV HELOCs in a declining market in California are non-recourse.
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