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nichole12000
14 Posts |
 Posted - 05/22/2008 : 08:40:38 AM
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Hi, Have client with 670's mid score. 1st time buyer wants 95% conv in Phoenix, AZ (declining market). Loan amount approx 190k. Purchasing SFR. Thank you. |
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South Shore
510 Posts |
Posted - 05/22/2008 : 09:30:45 AM
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Please give me a call to discuss, as this sounds like a perfect fit for FHA.
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.
FHA guidelines provide for 95% on cashout refinances. Purchases are up to 97% LTV w/ up to a 6% seller's concession. No declining market reductions either!
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.
I am directly available to discuss our Program and your scenarios for properties in AZ, FL, MD, DE, NY, CT, MA, ME, IL, MN, 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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daronc
1310 Posts |
Posted - 05/22/2008 : 8:45:52 PM
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Conv. you will have problem getting MI at that FICO.. MI companies require 680+ FICO for declining market at 95% LTV....
If you are FHA approved let me know we can go FHA on this.... |
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KHufford
10407 Posts |
Posted - 05/22/2008 : 10:56:22 PM
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Hey Nichole, welcomne to the site...I am here in Scottsdale as well. I do these as Flex100 with 5% own funds down... Not a problem, call/email me if you need help.
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