Interest rates are improving again and now we have a new R02 program with very competitive pricing for your high-dollar clients up to $729K loan amounts. Call me for a competitive quote on this.
· Max 90% LTV for Owner Occupied purchases (75% Rate/Term Refis)
· Max 60% LTV for 2nd home and investment properties.
· Median credit score (>80% LTV = 700, <= 80% = 660)
· No 30 day mortgage lates in last 12 mos.
· Max 45% DTIMax loan limits are based on MSA and can be as high as $729,750 for a single family! Refer to the HUD Maximum Financing Table on the HUD site. Enter the state, county/MSA and select 'Fannie/Freddie' from the 'Limit Type' drop down to obtain the maximum Conforming Plus loan amount available for the location of the subject property.
On another note, a realtor mentioned some quick ideas to me about an ad I placed that I wanted to share so you can think about these for your biz...
Use the phrases, "We have lower interest rates for better credit scores" and "We offer free loan pre-approvals!"
She was absolutely right! These 2 phrases will help me pick up more and better buyers and I'll be sure to include them in my next ad. We shouldn't take these for granted that people already know these things...
You might consider using the word "free" in your advertising to promote your services too like "free new home buyer guide", etc.
If you want to promote the financial phrases above in your advertising to help you pick up better quality buyers, you can include my name and phone number and I'll be sure to let you know if I get them pre-approved! This team approach can help both of us help each other with better prospects.
Sam Thompson, PHH Mortgage
Senior Advisor - Helping you GROW your business!