Subprime lender in New York?

July 24, 2007 1:04 PM

I am looking for a mainstream lender that deals in borderline subprime loans. Any ideas?

I need to refinance a large mortgage in NYC, switching from an investment loan on a multi-family building to owner-occupied. Am looking to take cash out, and am borderline qualified for the resulting loan.

I've talked to the current mortgage-holder (Wells Fargo) but am looking for a better deal than they have offered. I'd prefer not to use a mortgage broker because the loan is large and we can't afford the points.

Has anyone here had recent experience with a bank that was willing to work with a borrower like me? Excellent credit, perfect payment record, decent income--but looking for what may be considered a subprime loan because of iffy property values?

Any mefi loan officers in New York who might be interested in talking, email's in profile. Thanks!

posted by torticat to work & money (2 comments total)

Try a credit union.
posted by SpecialK at 1:11 PM on July 24, 2007

I'd ask this over at creditboards in the mortgage section. A few really helpful mortgage brokers hang out there.
posted by salvia at 10:38 PM on July 24, 2007