Do you know anyone who wants to buy a home with a 99.50% LTV Loan Program in Los Angeles County? Who do you know who wants to buy a home but cannot afford a large down payment? As Real Estate Professionals, we all know that interest rates are still hovering at historical lows, underwriting guidelines are still shutting many Buyers out of the market, and Sellers are motivated to sell. Allow me to expand your available pool of Buyers by offering another great option!
Did you know a 99.50% LTV is available on a Purchase Mortgage Loan? Are you (or your Clients) interested in investing less than the typical 3.50% down payment required by the Federal Housing Administration (FHA), and not eligible for a Veterans Administration (VA) loan?
I am proud to introduce a great option to consider...how about only putting down 0.50% percent (99.50% LTV)? This is NOT a gimmick!
For reference, on a:
- $300,000 sales price, the down payment would only be $1500.00!
- $350,000 sales price, the down payment would only be $1750.00!
- $400,000 sales price, the down payment would only be $2000.00!
A brief summary of the underwriting guidelines are listed below:
- Income Limits:
- $90,600: San Diego County
- $85,200: Los Angeles County
- $85,200: Riverside County
- $104,640: Orange County
- $119,280: San Francisco County
- Other Counties Available
- Eligible Properties: SFR, Approved Condominiums, PUD's
- Occupancy: Owner Occupied Only
- Loan Types: 30 Year Fixed, Fully-Amortized Only
- Minimum Credit Score: 620
- Maximum Loan Amount: $417,000
- Flip Policy: Property flips within 90 days are allowed only if the new sales price is >20% of an increase over the Seller's recent acquisition cost
This limited-time 99.50% LTV Loan Program in Los Angeles County is only available through select Lenders.
Among the Lenders offering this 99.50% LTV Loan Program in Los Angeles County is AmeriFirst Financial.
Among the specific Loan Officers trained to offer this 99.50% LTV Loan Program in Los Angeles County is Jason Gordon. For details and for pre-approval instructions, contact Jason Gordon at AmeriFirst Financial.
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