Monthly Archives: March 2014

This weeks product highlights! USDA Rural Housing financing

USDA Rural Housing is a great financing program since it allows for Zero down payment for the purchase of an owner occupied property.  Other program guidelines are:  **Buyer can not own any other real estate. **Household income guidelines must be … Continue reading

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FHA financing- it’s not just for first time buyers!

FHA financing is a great financing option today for those with lower credit scores and limited downpayment funds                 *FHA minimum credit score is 640                 *FHA minimum downpayment is 3.5% of sale price                 *maximum seller concession is 6% … Continue reading

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Reno financing- turn that diamond in the rough into a gem!

Home buyers want their dream home at a rock bottom price in a great location or homeowners love the location of their home and don’t want to move and want to make some upgrades but are slim on equity. Contrary … Continue reading

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http://www.mbsquoteline.com/newsletter/view/81/19042/0/3 hot off the presses!! full of up to the minute mortgage news! click on the link on the bottom to subscribe.

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100% Gift on conventional loans

It used to be FHA was the only option for a loan when the borrower was utilizing 100% gift funds.                                                                                                                                                                                             It used to be Conventional loans required at least 3% of the borrower’s own funds.   That is … Continue reading

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Seller concessions

This week’s product message is about seller concession do’s and don’ts- There is a maximum percentage of sale price cap on seller concessions based on loan type, downpayment and occupancy: Conventional Loans-      Loan to value 90.01%+=3%      Loan to … Continue reading

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