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Travis Du Bois
590 Posts |
 Posted - 04/29/2008 : 12:15:40 PM
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NOW OFFERING
SIVA has been discontinued as of 6/24/08
Conforming SIVA & SISA
Single units O/O or 2nd Home purchase or R/T refi:
• 70%LTV with a 730 FICO
Single units O/O or 2nd Home C/O refi:
• 70%LTV with a 730 FICO
~No declining market LTV adjustments
~All loans must receive "Accept" findings from Loan Prospector, in addition to meeting all other guidelines.
~6 months PITI reserves required for all transactions.
~Borrower must have a 12 month housing payment history (mortgage or rental). VOR must be in the form of cancelled checks.
~At least 50% of qualifying income must come from self-employment.
~Maximum 3% interested party contributions allowed.
~Maximum DTI as determined by LP, but under no circumstances can the DTI exceed 45%.
~Condominiums of all types are not allowed on the Agency SISA Product.
~For Second Home transactions, the borrower can own no more than 4 financed properties, including the subject property.
~For Cash-out finance transactions, the borrower must have owned the property for 6 months prior to the Note date of the new refinance.
~Not allowed in the Florida Counties of Miami-Dade and Broward
Call or e-mail me if you have any questions.
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danielle9
992 Posts |
Posted - 04/29/2008 : 1:05:19 PM
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| Hey! How are things going? Looks like there were some guideline changes. Well, take care! |
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Travis Du Bois
590 Posts |
Posted - 04/29/2008 : 1:22:07 PM
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Yeah there were some changes with SIVA. We lost them for about a week then picked up these products.
Hope all is well with you at your new gig!
Talk to ya later. ~`; } |
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