203k piggyback with eem: EEM - Energy Efficient Mortgage
- 04/25/10 03:57 AM
If you aren't already on this bandwagon, better get tied in. The EEM has been a great product for a long time but very under utilized. It can save your deal. We have used it a few times to save deals that would have otherwise died on the vine... It can allow your borrower to qualify for more money and even exceed the "maximum mortgage amount" set by HUD on a 203k when you piggyback an EEM. We are now facilitators for the EEM program, watch our web site in the next few days to see the changes that are coming … (0 comments)
|
203k piggyback with eem: EEM - Energy Efficient Mortgage piggyback for 203k
- 08/20/09 01:07 PM
The EEM is a great program in case you aren't aware of it. We have been playing around with some scenarios with a new friend of mine that is a HERS Rater in Charlotte ... Chris. In batting some things around we discovered that you can SAVE YOUR DEAL that is going south. I've talked about this before but not to this extent. Let's say you have a customer with a down payment of 3.5% on a 203k loan. On a $200,000 house that would be $7,000 down. Now we piggyback the EEM and come up with $7,000 in repairs that … (13 comments)
|
|
|
|
If you aren't already on this bandwagon, better get tied in. The EEM has been a great product for a long time but very under utilized. It can save your deal. We have used it a few times to save deals that would have otherwise died on the vine... It can allow your borrower to qualify for more money and even exceed the "maximum mortgage amount" set by HUD on a 203k when you piggyback an EEM. We are now facilitators for the EEM program, watch our web site in the next few days to see the changes that are coming … (0 comments)
;)
;)
;)
