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Mortgage Tightening Continues - But we can help!

By Sam Thompson

Real Estate Technology with BIC Services, LLC

September 03, 2007 10:16 AM

Program recap time as the tightening continues...

Hopefully, we've seen the last of these subprime-type mortgage guys!

With all of the mortgage tightening with over 130 lenders on the "implode-o-meter", I thought you need to know what programs we can still offer your buyers.

Here's a partial list:

100% Financing in several programs with only a 575 FICO!
95% Financing for Manufactured Homes for Primary or 2nd Homes on a permanent foundation and deeded as real property!
VIP status with at least a 680 FICO and 5% down for a no doc closing.
Stated Programs up to 90% LTV for SIFA and 85% for SISA.
Interest Only ARMS and Fixed Rates programs for 10 yrs on a 30 yr loan.
FHA loans with grants to cover the 3% down payment and grants that we can set up to help with the downpayment so they can get the house with very little out of pocket.
VA loans for all the veterans coming back from the middle east.
Jumbo rates that are really competitive in the industry.
The same great service making sure your transactions are smooth and easy!

With the tightening, many mortgage companies have either gone out of business or about to and you can read who has so far at:

For the complete list, click on www.ml-implode.com/ or www.mortgagegraveyard.com/

So, stick with us because we never got into the subprime lending 2/28 programs or option-arm products that are causing much of these companies to close their doors. We are doing great and plan on weathering this storm.

AND, rates are falling again! So, get out and start beating the bushes and let me know if there is anyone you want me to call for you. Our market is in good shape, despite what you read in the newspapers so get out and sell, sell, sell!!! Let your prospects know that we are doing great and now's a great time to buy.

Sam Thompson, PHH Mortgage Advisor - Helping you GROW your business!

www.activerain.com./luckydog1 - SC

www.activerain.com/luckydog2 - NC

http://samthompson.phhmortgage.com/

www.myphhmortgageadvisor.com/

Great Pinehurst Links:

Pinehurst Real Estate - http://www.pinehurstrealestatenc.com/

Pinehurst Luxury Homes - http://www.pinehurstluxuryhomesnc.com/

North Carolina Horse Farms - http://www.southernpineshorsefarmsnc.com/

Fort Bragg Real Estate - http://www.fortbragghomesnc.com/

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