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Old 05-09-2009, 06:48 AM
 
1 posts, read 1,477 times
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Hi.

Although my gut tells me the days of 80/10 loans are long gone, thought I'd see if anyone has seen banks offering this type of loan (Las Vegas). Anyone have any information they can share?

Thanks.
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Old 05-09-2009, 08:12 AM
 
Location: Beautiful Upstate NY!
13,814 posts, read 28,446,962 times
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Just curious...where does the other 10 come from?
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Old 05-09-2009, 08:40 AM
 
Location: Kingman AZ
15,370 posts, read 39,047,430 times
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Quote:
Originally Posted by jfkIII View Post
Just curious...where does the other 10 come from?
WHEW......I thought someone had cut off some of my fingers in the night.
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Old 05-09-2009, 11:43 AM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,836,675 times
Reputation: 958
You will be very hard pressed to find a 80/10 mortgage in Vegas. With the way things have gone over the past few years, noone wants to take second position (think of the short sales and foreclosures where second lien holders must take $1000 for the $50,000 they loaned out and be happy with it).

However, I do believe that Nevada Federal Credit Union is offering 80/10 financing for highly qualified members (I also believe that they are still offering 100% financing as well per their website). It's possible that there are other credit unions and small banks willing to make the loan as well.
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Old 05-09-2009, 09:06 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 38,127,294 times
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Just got an offer of a 90% 30year fixed with no mortgage insurance on a property. 4.5% interest.

Amazing what you can get from a bank who wants to unload a big dog...
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