Want to Lower House Payment: We allow a buyer to buy out of paying monthly Mortgage Insurance….makes the house payment much lower.
Low Credit Scores: FHA will allow 600 minimum score if the buyer has their own 3.5% Down Payment (no gifts)
Need $ for Down Payment: Utilize USDA Zero Down Programs, Utilize State Bond $10,000 Down Payment Assist Funds. Ask Seller to pay closing costs, or raise the interest rate to cover the closing costs.
No Income: Utilize FHA with parents co-signing on loan. Try one of our Asset Based loans. If the buyer has a ton of cash in their own savings.
Stretching Buying Power: Pay off debts, utilize a 5/1 ARM with lower rates, Get a co-signer on FHA.
Interest Rate update.
Rates are improving and staying steady because of the possible need for a bailout for Spain. This means investors believe investing in US Treasury Bonds is more safe….making rates good for us all.