You may or may not know this, but the mortgage industry is a dynamic industry. Things change on a daily basis. Loan programs come and go. Guidelines change, etc.
I saw a new product come out recently on the Non QM side of the market. (non qualified mortgages)
It’s an 80/20 purchase. So, 100% financing. We haven’t really had a product like this come out since before 2008.
Here are some basic guidelines for this program…
1) You need to have at least a 700 credit score.
2) Purchase price is a minimum of $200,000.
3) No non medical collections, judgements, or charge offs in the last five years.
4) Seller can contribute up to 3% towards buyers’ closing costs.
5) No rural homes. Must be in a metropolitan area.
So, if you need 100% financing drop us a note, and we’ll see if you qualify for it.
That’s it for today!
Thanks for reading!
Brett
I’ve written about this before, but we have more and more people passing the age…
I had this situation come up again last week, and I wanted to address it…
One of the most important things you will have to do when you apply for…
I wanted to remind you that we have a 2% to 5% downpayment and closing…
If you receive money from the State or a County sponsored organization for providing foster…
Do you have investment property, and would like to pull cash out of your property?…