All are welcome (almost)...come one come all

By
Mortgage and Lending with Fairway Independent Mortgage Company 385907

You know, I'm not the new guy, and I really believed that things would get better and things would change. And if I knew how I'd embed a little Dylan here, right now...

Because the times, they are a changin

Alright so what am I talking about you might like to know.

Well we're not going to call it

Subprime

cause that word is a no, no. We're going to call it...

Non Agency

So what is non agency? Quite simply put its;

anything outside of the agency guidelines; that would be guidelines not conforming to fannie/freddie, and government lenders.

So, exactly how far outside of these guidelines you might be wondering. Well in my case, here's some examples;

 

recent bankruptcy, foreclosure, and short sales, non qualifying self employed, and foreign nationals; low scores and high ratios.

 

we're still listening. You are going to have to make some sense of the situations and why the loan should be made, but

 

we're listening

 

what's the rate you may ask

 

we're 9.99 ish

 

If you think that's high let me give you some #'s

At 4.25% the P&I on a $150,000 mortgage is $737.91, and the P&I at 9.99 is $1305.29. That's a difference of $537.38 per month, or $6808.52 per year.

If the appreciation on a home in your area is 10% that's $15,000.

So, you need to decide if that makes sense to you. Also obviously if as a buyer someone is in the position to acquire the 4.25% than that's what they should/will do.

a big plus is that these programs offer

a 30 year fixed rate with no prepayment penalty.

this allows someone to get started, or get a fresh start, and also develop a positive payment history.

also, this is not private money, per say, these loans are being sold to a reputable  financial institution, etremely knowledgable in the secondary mortgage markets.

So, there you have it. If your looking for a 2nd chance, or an opportunity to get started, and don't qualify for the "Agency" guidelines, just

reach out to olde smiley up there on the right

 

 

 

close

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Topic:
Mortgage / Finance
Location:
Florida St Lucie County
Groups:
Realtors®
Keller Williams 'Rainers
Century 21 Network
RE/MAX Active Rain Bloggers
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Tags:
indian river county mortgages
vero beach loan officer
port st lucie loan officer
st lucie county mortgages
martin county mortgages

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Jay Beckingham

"I love first time homebuyers"
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