The form covers several important areas of information that are used to conduct a search of available lenders and their Rate and Terms for a particular loan type. 1) Contact Information 2) Property Description 3) Additional Collateral 4) Borrowers Desired Loan Terms 5) Personal Information Via Resumes, 1003's and Financial Statements for all borrowers 6) If it is income producing then a Rent Roll or Profit and Loss Statement is needed 7) Credit Files … (0 comments)
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Jim Poole
Zero Down, USDA Purchase Loans, FHA 203(K) Rehab &...
I give consultations on Government Home Loan Programs. I advise on how to use these loans to Buy and Sell more homes.
Many of todays home buyers are first time home buyers; will have limited funds to put down and will have no money for needed repairs or desired up-grades. Many will be younger and will have marginal incomes.
The USDA Loan and the FHA Loan are designed to address these issues.
The USDA loan offer 100% Financing while the FHA 203k loan program is attracting a lot of attention from the more sophisticated buyers of aging and bank owned properties.
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