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mtgmma
9 Posts |
 Posted - 07/11/2008 : 8:03:04 PM
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One of my realtors sent me a very interesting flyer from another mortgage broker today; does anyone know a lender that could be doing this????
100% Financing
6% Seller Contributions
No monthly mortgage insurance
Lower closing costs
Finance 100% of appraised value
600 FICO required, NO EXCEPTIONS!
I immediately thought VA..... |
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mtgmma
9 Posts |
Posted - 07/11/2008 : 8:04:30 PM
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| Sorry, forgot to mention, this is in TX |
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sbuckman
516 Posts |
Posted - 07/11/2008 : 8:30:06 PM
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| I can only think of USDA although they do not have a specific fico requirement. He may just be trying to weed out the very bad by saying 600. |
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SoCalRay
2698 Posts |
Posted - 07/12/2008 : 09:32:08 AM
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VA is the only program with a 600 fico, 100% and no monthly MI
except VA only allows 4% seller credit, |
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mtgmma
9 Posts |
Posted - 07/13/2008 : 9:04:51 PM
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| Well, VA is close to 6%; non-allowables plus the 4%.....thanks for the input.... |
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