Here's An Easy Way To Get Out Of Your Contract For Deed...

Hello,

Did you know that if you purchased your house on a Contract For Deed, or a Land Contract - we can treat this as a refinance loan?

...It's true! ...The Contract For Deed doesn't even need to be recorded.

We just need 12 months cancelled checks to refinance a Contract For Deed, or a Land Contract.

The biggest benefit of this is that we can use the appraised value, and not the purchase price for value. ...So, you can roll in closing costs instead of writing a check for them!

Max loan to value ratio on this program is 90%.

I hope you have a good day today. Thanks for reading!


Brett

USDA has new income limits. See If You Qualify...

Hello,

Good news.

USDA has recently increased their income limits.

Remember - outside of VA, USDA is the only 100% loan program available right now.

Here is the link to see if you fit under the new USDA income limits...

http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income@11


I hope you have a good day today. Thanks for reading!


Brett

No Money Out Of Your Pocket On This Purchase Scenario...

Hello,

Did you realize that when buying a house from an immediate family member - the buyer doesn't have to come out of pocket for a down payment with an FHA loan?

...this is because the guidelines allow the seller to "gift" equity to the buyer.

So, the 3.5% down payment on an FHA loan can be a gift from the seller. ...in addition to this, the seller can also pay the buyers closing costs, and pre paid expenses (taxes and insurance).

Neat, huh!

I hope you have a good day today. Thanks for reading!


Brett