South Shore
410 Posts |
 Posted - 05/19/2008 : 11:31:51 AM
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I have never heard of a seller's concession towards closing costs and prepaids being credited for down payment, but keep in mind that with FHA purchases are up to 97% LTV w/ up to a 6% seller's concession and the borrower's 3% contribution can be from a gift (or DPAP). Cashout refinances are up to 95%. No declining market reductions either!
Our Company (est. 1987) has a well established Affiliate Program for non-FHA approved Brokers where you can assist your existing client with FHA product.
Our focus is to work hard to close your clients loans and to build a long term relationship with your company. You are recognized as the Broker, can make up to 2% Broker Fee, payable right on HUD; no ysp.
Most of your EA-I, EA-II and EA-III scenarios would also be much better closing with FHA product as FHA rates and monthly MI are MUCH lower! HUD has also raised their loan limits and we can now save even more of your deals that will not work conforming but will FHA!
I am directly available to discuss our Program and your scenarios for properties in FL, MD, DE, NY, CT, MA, ME, IL, MN, AZ, and CO.
Have a scenario? FAX or e-mail me your 1003 and credit for same day review.
Neely Mondello; DE
South Shore Mortgage
866-237-7452 x242
FAX: 631-574-1442
neelymondello@myfastmortgage.com
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