The FHA loan is a popular mortgage option for many homebuyers with a low down payment requirement of 3.5% and reasonable guidelines.

 

 

Wells Fargo's FHA purchase transaction requirements on a multi-family (investment) property:

 

-640 score

 

-An isolated case of derogatory credit will not cause a loan to be declined, unless the adverse credit is a Wells Fargo charge-off, settled-for less account, repossession, bankruptcy or foreclosure or deed-in-lieu.

 

-Borrower resides in one of the units and charges rent to tenants of the other units, that rent may be used for qualifying purposes. However, projected rent of additional units only and not the owner-occupied unit may be considered gross income, only after subtracting the jurisdictional estimates for vacancies and maintenance. The rental income may not be used as a direct offset to the mortgage payments. Search Multi-Family (Investment) Properties. 

 

-Borrowers must still qualify for the mortgage based on credit, assets, and income. The projected rent may only be used as gross income for qualifying; it may not offset the monthly mortgage payment.

 

-On purchase and refinance transactions, the borrower must have three months’ mortgage payments (PITI) in reserve after closing. Gift funds may not be used to meet the reserve requirement.

 

 

For more information or to pre-qualify for a loan, you can contact:

 

Linda Ford

 

Mortgage Consultant

Mortgage Retail Sales

NMLSR ID 420429

 

Wells Fargo Home Mortgage  |  1500 W Benson Blvd  |  Anchorage, AK  99503

MAC K3214-041

Tel (907) 257-3610  |  Cell (907) 903-3509  |  Fax (866) 972-5748


www.wfhm.com/linda-ford




Anchorage Real Estate: 

Anchorage Homes between $150,000-$200,000 http://www.homesbyvanna.com/listings/propertytype/SINGLE/minprice/150000/maxprice/200000/areas/30124/


Homes between $200,000-$300,000 http://www.homesbyvanna.com/listings/areas/30124/minprice/200000/maxprice/300000/propertytype/SINGLE,CONDO,MULTI,INCOME/listingtype/Resale+New,Foreclosure+Bank+Owned,Short+Sale,Lease+Rent/sort/price+desc/

Foreclosure Listings  http://www.homesbyvanna.com/listings/areas/30124/propertytype/SINGLE,CONDO,MULTI,LAND,INCOME,COM/listingtype/Foreclosure+Bank+Owned,Short+Sale/sort/price+asc/

Multi-Family (Investments) http://www.homesbyvanna.com/listings/propertytype/MULTI/maxprice/800000/areas/30124/sort/price+asc/
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Anchorage Real Estate Specialist

907-720-4663

SEARCH FEATURED PROPERTIES, FORECLOSURES AND SHORT SALES



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Vanna Siackhasone Anchorage Real Estate 907-720-4663 (Keller Williams Realty 907-720-4663) Rainmaker_large

Vanna Siackhasone Anchorage Real Estate 907-720-4663

Anchorage, AK

More about me…

Keller Williams Realty 907-720-4663

Address: 101 W. Benson Blvd Suite 503, Anchorage, AK, 99503

Office Phone: (907) 720-4663

Cell Phone: (907) 720-4663

Email Me

Anchorage Real Estate. Anchorage, Alaska is where I live, work and play. Anchorage is a city of approximately 170,000 people. Anchorage is a beautiful place to live. The scenery and wildlife cannot be beat, the people are friendly, and where else can you hunt, mountain bike, hunt, hike, and fish less than thirty minutes away? I help home buyers and sellers navigate the world of Real Estate. From start to finish, I am involved in the Real Estate Transaction. Call 907-720-4663 for all your Anchorage Real Estate needs.


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