Question: Subprime lender in New York?

torticat — Tue, 24 Jul 2007 13:04:51 -0800

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!

By: SpecialK

SpecialK — Tue, 24 Jul 2007 13:11:59 -0800

Try a credit union.

By: salvia

salvia — Tue, 24 Jul 2007 22:38:43 -0800

I'd ask this over at creditboards in the mortgage section. A few really helpful mortgage brokers hang out there.

Comments on: Subprime lender in New York?

Question: Subprime lender in New York?

By: SpecialK

By: salvia