Spotlight On A 3% Down Product Up To A 548K Loan Amount...

 Good Morning!

I wanted to spotlight a program you or someone you know may be interested in.

It's a 3% down first time home buyer program up to a $548,250 loan amount.

Here are some of the important features of this product…

1) Owner-occupied primary residence only (can't have owned a home in 3 years).

2) Minimum 620 FICO score.

3) 3% down payment.

4) 1-unit attached and detached single family residence, attached and detached PUDs.

5) Purchase and rate/term transactions.

6) 15, 20, 25, and 30-year loan terms.

7) No up front MI (like you would have on FHA).

That’s it for today!

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

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

 

P.S. If you would like to check out my novel Density - here is the Amazon link for it.

Max Seller Help With Closing Costs By Loan Program...

 Good Morning!

If you are buying a house and wanted to know how much the sellers can help you with closing costs, below is a list of maximum seller contributions by loan program...

Program: Conventional (fannie/freddie), owner occupied…

1) 25% or more down payment = 9% allowed seller contribution.

2) Less than 25% down and up to 10% down payment = 6% allowed seller contribution.

3) Less than 10% down payment = 3% allowed seller contribution.

4) Fannie Mae Homepath: less than 25% down = 6% allowed contributions; 25% down or more = 9% allowed contributions.

Program: FHA

1) 6% maximum seller contribution.

Program: VA

1) 4% closing cost contribution.

Program: USDA

1) No limit to how much sellers can contribute (is limited by actual closing costs/prepaids). When a home appraises higher than the sales price, closing costs can be financed with USDA rural loans up to the difference between the sales price and appraised value.

That’s it for today!

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

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog

Non QM Loan Product Spotlight...

 Good Morning!

Hope you guys are having a great week!

Note:  If you need to close quickly on a purchase - we are getting 10 day loan submissions to clear to close.  Not on every file of course, but if your credit is good, and you can easily prove your income - we can get those in and out.

Non QM Product Options Spotlight...

ITIN- Up to 90% LTV
ITIN 24 month Bank statement available now
DSCR 80% LTV 600 Min Fico (no proof of income needed)
SUPER JUMBO up to 5 Million!
24 Months Bank Statement NO P&L with 100% Deposits
2 Months Bank Statement 90% LTV
1 Day out of Forbearance/ Foreclosure/ Bankruptcy/ 90+ Day Late
580 Min Fico

That's it for today!

Thanks for reading!

Brett

 

Get Pre Approved For A Loan Here
My Previous Blog