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1
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- Financing Options
July 21, 2006
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2
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3
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- Employment History
- Lack of Reserves
- Poor Credit History
- Prior Foreclosure
- Bankruptcy
- Existing Debt
- Closing Costs
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4
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- 100% Financing
- A new set of rules for financing
- Your key to getting into a home
- First Time Homebuyers
- Move-up Homebuyers
- Move-up Homebuyers keeping Current Home
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5
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- Loan Interest: Monthly Payments:
- 80% 1st ($440,000) @ 7.25
$31,900/Yr $2,658.33/Mo (I.O.)
- 20% 2nd ($110,000) @ 9.2
$10,120/Yr $900.96/Mo
- TOTAL: $42,020 $3,559.29
- This Combo Loan produces a blended interest rate of 7.64% and the total
of both payments is $3,559.29 amortized!
- Yearly Interest of $42,020 is tax deductible.
- Information is based on July 2006 Rates.
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6
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- 100% Financing
- Will qualify for a bigger house than a typical lender!
- No Mortgage Insurance, No savings necessary!
- Interest Only Loans Available
- Self-Employed
- 12 or 6 month Bank Statement Programs!
- Stated Income
- No “seasoning” required
- Wage Earner Stated Income
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7
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- …and with the new set of rules for lending:
- Mortgage Rating – NOT REQUIRED!
- Bankruptcy – DOESN’T MATTER!
- Derogatory credit – DOESN’T MATTER!
- Asset Verification – NOT REQUIRED!
- Reserves – NOT REQUIRED!
- Mortgage Insurance – NOT REQUIRED!
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8
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9
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- Quick Turn-Around Times!
- 10 Days to Process Your Application
- 24-48 Hours Normal Turn-Around For Under Writing
- 24-48 Hours on Documentation
- 24-48 Hours on Funding!
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10
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- What makes this all possible?
- Our ability to work with a variety of lenders that each offer different
benefits!
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11
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Notes
