I understand the skepticism of the Realtors I talk to. It seems too good to be true with everything going on. With the masses of lenders that let their imaginations run wild with all of the money they could make on unqualified buyers. So to hear that someone is still helping the very average buyer-the same as they have been for two decades- seems kind of...too good to be true.
But while FHA was running wild with 500 FICO scores and Non-Occupying Co-Borrowers, there was a mortgage insurer that never waivered from their original guidelines. Now that the bottom fell out from under the others and Steve Preston scrambles to wrangle FHA in yet continue to lend...there is the stolid conservationist guidelines that have served median income borrowers for a while now.
Oh, it's still a United States Government backed program. It's called the USDA and it is here to stay.
They have never swayed to lower scores, client base, or lower standards. The only thing lower is the rates. They had lower income borrowers' best interests at heart without compromising their own principles of what makes a good borrower.
Is it any wonder that they are still lending with fervor while FHA is dying and has no idea?
For more information Call Today, or visit our website:
810-953-4266 or www.iconmortgagelending.com
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