low: So Your Clients Have Debt Ratio Issues - New Conventional Program Can Help - Florida
- 11/02/13 04:13 AM
Do you have a client that has been turned down due to debt ratio's? This can often be the case with self employed borrowers who have tons of deductions. Some of these buyers have substantial liquid assets in the form if IRA's, Stocks, CD's, and Bonds. Our New Portfolio product allows the use of these assets to increase income. Here is how it works:
Income is calculated as follows: 60% of liquid assets / half of new loan term = monthly income to qualify. Borrower has $250,000 in combined liquid assets and wants a 15 year mortgage Calculation: 60% X $250,000/90 = … (2 comments)
low: Rates at 6 Month Lows - Get 'Em While You Can
- 10/23/13 01:40 AM
From the lending side things have been tumultuous to say the least. We have seen rates catapult at rocket speed in the past 4 months upward - all the result speculation as to when the Federal Reserve would pull back on it's bond and mortgage backed securities purchasing program termed Quantitative Easing. Then, Uncle Sam went on an ugly hiatus - slowing certain processing aspects of lending, and freezing to a grinding halt the well loved 100% no money down USDA program. Then, yesterday, the Department of Labor revealed their monthley employment report, showing some headwinds in the number one indicator of the economy - … (1 comments)
low: It Could Get Ugly - Encourage your clients to lock now and not gamble
- 10/07/13 03:48 AM
What can you say other than simply shake your head. Here we are, not only dealing with a government impasse that has the lights shut off, but now Washington wants to flirt with how we pay for it all. Just to ensure everyone is clear - the budget crisis and the debt ceiling are not related. The budget crisis is over what we will spend, the debt cieling is how it gets paid for. The debt ceiling issue carries far more ramificaitons to it not only to our economy, but our credit rating, and foreign relations - China owed $1.28 Billion … (1 comments)
low: FHA Lower Credit Scores Down to 580
- 10/03/13 12:21 AM
Below are some highlights of FHA Financing - both Purchase and Refinancing- available through Bay to Bay Lending *580 to 639 Mid Score Capped at 31/43% debt to income ratios*640+ Mid Score on FHA with 41/57% debt to income ratios *Seller can pay up to 6% of the purchase price in Closing Costs*Close in less than 3 weeks*Refinance with Cash Out Refinance Up to 85% *Rate & Term Refinances up to 97.75% LTV on FHA*FHA Streamline Refinace up to 97.75% LTV with No Appraisal Required Please visit my personal web site website for more information at www.TampaMortgageHome.com contact me @ 813-842-7999 for more information or to assist you in getting … (0 comments)
Do you have a client that has been turned down due to debt ratio's?
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