pmi: Buyer Has a Short Sale - How Long Until They Qualify??
- 11/04/13 01:31 AM
A very high percentage of Florida homeowners short sold a home in the past 5 years. A common question I often get is ....how far removed from a short sale does someone have to be in order to quaify for home financing??? Here are some guidelines that can hopfully help buyer's agents qualify their buyers. Conventional - 2 Years if you are putting 20% down - 4 Years between 80% and 90% Loan to Value, and 7 Years above 90% loan to value - or less than 10% dowm FHA - 3 Years removed USDA - 3 years removed VA - 2 Years … (0 comments)
pmi: 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)
pmi: VA NO MONEY DOWN HOME LOAN - NO PMI FLORIDA
- 11/02/13 04:02 AM
VA loans are often made without any downpayment at all. Aside from the veteran's certificate of eligibility and the fact that the appraiser is assigned by VA, the application process is not much different than any other type of mortgage Bay to Bay Lending is approved for automatic processing and a buyer's loan can be processed and closed by the lender without waiting for VA's mortgage approval of the credit application or for VA to review the appraisal. Bay to Bay Lending is able to use VA recognized automated underwriting systems, such as Loan Prospector and Desktop Underwriter, to facilitate the underwriting process. FIVE EASY STEPS … (1 comments)
pmi: USDA is Funded, and Up & Running - No Money Down - Low MI
- 11/02/13 03:56 AM
Owning a home is simple with the USDA Loan Program. If you think it is out-of-reach for you and your family, you might be thinking wrong! Tony Marra, an Mortgage Banker for Bay to Bay Lending in Tampa, Florida explains the USDA program in this article. The guarantee provided by the USDA helps low and moderate income families with little money for a down payment achieves home ownership. To be eligible, applicants must: 1. Have dependable income that is adequate for the repayment of the loan. This income should be verifiable and continuing for at least 24 months. 2. Be a U.S. citizen, currently reside in … (0 comments)
pmi: USDA IS BACK AND RUNNING - NO MONEY DOWN AND FINANCE CLOSING COSTS
- 10/29/13 02:49 AM
Owning a home is simple with the USDA Loan Program. If you think it is out-of-reach for you and your family, you might be thinking wrong! Tony Marra, an Mortgage Banker for Bay to Bay Lending in Tampa, Florida explains the USDA program in this article. The guarantee provided by the USDA helps low and moderate income families with little money for a down payment achieves home ownership. To be eligible, applicants must: 1. Have dependable income that is adequate for the repayment of the loan. This income should be verifiable and continuing for at least 24 months. 2. Be a U.S. citizen, currently reside … (0 comments)
pmi: Look at Conventional PMI Vs. FHA, It Could Save Your Clients Thousands
- 10/29/13 02:40 AM
The demands on FHA spanning the past 5 years put into question the agency's sustainability of its loan program that insures mortgages. To better its financial position the FHA increased its monthly mortgage insurance premium and then, as of this month, new FHA mortgagees will carry the monthly mortgage insurance premium for life. Prior to this month FHA mortgagees could cancel their monthly MI once they had paid down below 78% of the original balance. And it is costly to say the least. On a $250,000 FHA loan, a borrower will pay $281.50 monthly, $3378 per year, or roughly $17,000 over … (0 comments)
pmi: VA LOAN SPECIALIST NO MONEY DOWN FLORIDA
- 10/09/13 10:07 AM
100% VA LOANS FLORIDA (edit/delete) VA loans are often made without any downpayment at all. Aside from the veteran's certificate of eligibility and the fact that the appraiser is assigned by VA, the application process is not much different than any other type of mortgage Bay to Bay Lending is approved for automatic processing and a buyer's loan can be processed and closed by the lender without waiting for VA's mortgage approval of the credit application or for VA to review the appraisal. Bay to Bay Lending is able to use VA recognized automated underwriting systems, such as Loan Prospector and Desktop Underwriter, to facilitate the … (0 comments)
pmi: FHA 580 Credit Score
- 10/08/13 07:53 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 started on … (0 comments)
A very high percentage of Florida homeowners short sold a home in the past 5 years.
;)
;)
