Lower Down Payment Requirements On These Homes...

Good Morning! 

I wanted to make you aware of some guideline changes on purchasing and refinancing second homes.

Our maximum loan to value ratio on second homes used to be 80%. 

...In other words you had to put down 20% on a second home purchase.

Now we can go up to 90% on second home purchases, or rate and term refinances.

...just wanted to let ya know!  

That's it for today! 

  

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

  

  

Here Are Some Unusual Loans For You...

Good Morning! 

Here are a few unique loans that I can do you may not have been aware of...

1) Conventional 2nd homes: Up to 90% LTV with 620 FICO.

2) Conventional Fixed Jumbo Cash-Out: Up to $1,500,000.

3) Conventional Pool Escrow Holdbacks! (Yes, you can add a pool to a house when you purchase!) Purchases only. Up to 95% LTV.

4) Property Listed? We can do with one day off the market - Rate and Term and Cash-Out refinance.  

That's it for today! 

  

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.

  

  

 

How To Reduce The Waiting Period For A Foreclosure On A Conventional Loan...

Good Morning! 

Here's a way to possibly reduce the foreclosure seasoning requirements on a conventional loan.

If you open up the Conventional Loan underwriting guidelines and look up foreclosures it will say you have to wait 7 years before you can get a loan.

A possible way around this is to let me run your file through the automated underwritng engine.

I've seen the engine give approvals for people at 4 or 5 years out of a foreclosure. 

...and, if it gives an approval at 4 years we can do the loan!   

That's it for today! 

  

Have a good day today!  ...and thanks for reading.

  

Brett

 

  

To see if you qualify for a mortgage right now - CLICK HERE  and fill out this simple application.

To sign up for my weekly mortgage quick tips - CLICK HERE.