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conventional: FHA loan or Conventional loan. Which purchase loan is best for my Real Estate purchase? - 06/20/11 01:31 PM
Here are some real simple basic FHA pros/cons to simply go over and compare an FHA loan to a Conventional loan...
FHA Pro: An FHA loan is designed for lower credit borrowers (640-700 range). The loan guarantee allows the government to make a guarantee to the lender against a loan default because the borrower is a more risky borrower. This allows the lower credit score borrower (640-700 range) to obtain a good interest rate loan through the lender. This does not guarantee loan approval, just against default. All loans, whether FHA or conventional must go through a similar approval process. Rates on … (0 comments)

conventional: FHA increases the monthly MI and lowers the upfront MIP. Conventional much better option, if you can manage the 5% down instead of 3.5% - 06/18/11 01:17 PM
FHA has increased their monthly MI cost and lowered the upfront MIP fee to 1%. Conventional is a better option, if you can put down 5% instead of 3.5% and if your credit is above 700. Conventional does not have an upfront funding fee and the monthly MI fee is lower too. Here are the new costs of the FHA loan...
FHA Annual Mortgage Insurance Premium Increase

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conventional: Non-occupant co-borrower's guidelines for conventional home loans (Fannie Mae or Freddie Mac). - 02/14/11 07:16 PM
There have been many questions regarding borrowers obtaining loans with non-occupant co-borrowers. Here some basic simple guidelines for the non-occupant co-borrower on "Conventional" (Fannie Mae or Freddie Mac) loans. These do not apply to FHA loans, as they have their own rules.
•·         Minimum 5% down payment must be from the borrower's own funds;
•·         Applications with occupant and non-occupant co-borrowers when the LTV is greater than 80%, the minimum required contribution must come from the occupant borrower;
•·         Non-occupant Co-borrowers, the maximum LTV/CLTV is 90%.  Interest Only loans are not eligible.  The non-occupant co-borrower may be a relative or a person with … (7 comments)

 
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Jason Schweiger

Auburn, WA

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Network Funding LP

Address: Auburn, WA, 98001

Office Phone: (253) 315-5580

Cell Phone: (253) 315-5580

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Puget Sound Mortgage Broker working hard for my clients in the entire Puget Sound region including Issaquah, Bellevue, Seattle, Redmond, Kent, Auburn, Maple Valley, Covington, Renton and more.


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