cassie701
1359 Posts |
 Posted - 02/14/2008 : 12:25:55 PM
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I received this from an AE....................
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***SISA Guideline Changes effective Tuesday, February 18th**
American Sterling Bank will still be offering a Strong SISA conforming product with the following guidelines:
80% SISA Rate & Term Refinance and Purchase
70% SISA Cash Out
Min Fico 720
Salaried or Self Employed Borrowers
Owner Occupied – 1 unit properties
**if you are in a declining market you will need to reduce your LTV by 5% if at max financing**
**you can still lock and submit any SISA doc type product on the OLD guidelines through tomorrow, Friday, February 15th. It must be submitted and locked by tomorrow and close by month end**
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