FHA

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janetmay1

25 Posts

Posted - 06/08/2008 : 8:44:41 PM

ARE THERE ANY LENDERS THAT WILL FINANCE A SFR, OO, FHA ABOVE 31% DTI?

mdiclemente

1016 Posts

Posted - 06/08/2008 : 8:47:01 PM

Yes... in fact I can't think of a lender that I use that WOULDN'T. Are oyu having a problem placing the loan? I am assuming you are talking about the front end ratio. Is the back end over 50? That would be the problem if it is, not the 31%.

ladysammm

352 Posts

Posted - 06/08/2008 : 9:09:40 PM

Assurity Financial Services. We lend in FL and if you have FHA DO approve/eligible there is no fico min. If you have refer then we have a min of 580 for a manual underwrite. Please feel free to contact me for assistance.

pam.kirchner@assurityfinancial.com Wholesale AE 23 years FHA
www.assuritywholesale.com

South Shore

410 Posts

Posted - 06/09/2008 : 06:43:39 AM

The front ratio is just as important as the back when it comes to FHA Underwriting, but the 31 is definitely not written in stone and the credit plus all other compensating factors are taken into account. I do advise my broker's to try and keep the front under 38, and ideally under 35; but again, compensating factors and common sense should prevail.

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.

Give me a call. 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.

If you 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

mullaned2002

94 Posts

Posted - 06/09/2008 : 06:58:09 AM

Try Ryan @ Golden 1st. 763-498-4631

Best of Luck!

mschille

215 Posts

Posted - 06/09/2008 : 06:59:54 AM

try flagstar, depending on credit for a refer with compensating factors, shouldnt be a problem.

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