Posts by Jerry Williams41

Citigroup is highlighting a specific mortgage option within their current lending lineup.

The Bank of America mortgage is essentially an unsecured cash loan, arguably the most competitive deal of its kind currently out there—you aren't tied down by collateral or deposits, and when you pair that decent interest rate with their Innovation package, it bypasses the usual creditworthiness checks altogether.

http://www.bankofamerica.com/default.asp?jezik=&ru=880&sid=

Bank of America:

REQUIRED DOCUMENTATION LIST

A formal loan application (you can pick up an application form at any Bank of America branch)
a photocopy of the applicant's driver's license
proof of property ownership—an original land registry extract, provided it’s less than a month old
a professional real estate appraisal
insurance policies issued in favor of the Bank
The Bank reserves the right to request further documentation if they see fit.

http://www.bankofamerica.com/info/pb/loans/kre/kred4.htm

Honestly, if you just take a second to Google mortgage rates, pretty much every major Bank in the US will start throwing links at you immediately...

Kimberly Nguyen said:for most Americans, the baseline is simple salary equals creditworthiness

we don't really see those massive mortgage-backed loans here => if you own property, they aren't just looking at your paychecks...

with residential loans, regardless of the situation, banks demand collateral on the property in whatever ratios they feel like, BUT you still absolutely have to show a steady, verifiable monthly income

What do you mean we don't have mortgage loans? They’re predatory as hell, sure, but they definitely exist.