With a turbulent year we have had in financing this year, I am hearing more & more that our markets are great in NC but financing is harder to acheive for your clients with less than perfect credit. This is true when most Brokers and Lenders require 580 scores or better to obtain a loan but there are programs that most Borrowers can qualify for.
Flagstar has always been the Broker's friend when it comes to quick turnarounds, great service and quality programs that benefit your Clients needs. Flagstar is still that friend and even tho Brokers must have 580 scores to run them with our Bank, I do not. I am still assisting lower 500 scored clients obtain top notch financing. That's right....500 score gets you a FHA loan, as long as they do not have non medical charge offs within the past 12 months and can show 3 trades, whether on bureau or alternative trades and a verifiable rental history.
I have not Blogged in awhile but I thought that with DPA leaving us on September 30th, some do not know that there is hope out there! Just remember, when DPA is gone, your clients can still qualify USDA or obtain their 3% downpayments from non family members with our bank.
If I can assist anyone or give you any more insight on what changes have been made and what I can do to help your clients, feel free to contact me. I will always help any of you!!!!
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