– 80% LTV has no mortgage insurance. LTV’s up to 97% with mortgage insurance
*Available with lender paid mortgage insurance
– 3.5% down-payment required, based on lower of purchase price or appraised value
– Non-occupying co-borrowers are allowed (perfect for college students)
– Down payment and closing may be gifted by a family member
203k – STREAMLINE
– Up to $35,000 in repairs
– No structural repairs
– Can be used for refinance
– No minimum repairs
– Contractor: 2 draws
203k – FULL
– Structural repairs allowed
– FHA consultant required
– Contractor: 5 draws
– Up to 6 months PITI can be included if property not occupied
– The LTV can be up to 110% of the after improved value. Comps must support the value
USDA RURAL FINANCING
– True 100% financing. 30 year fixed rates and flexible credit guidlines
– Guarantee fee may be financed (2%-3% available)
HOME PATH – Buy FNMA REO with the following guidelines:
– 97% LTV available. The 3% down can be a gift, grant, or loan from non-profit, allowing the borrower to borrow 100% of the purchase price
– No appraisals, property inspections, or mortgage insurance required
– Investors to 85%, 2% seller contributions allowed
-FNMA owned homes — www.homepath.com — all eligible properties are listed on the site
REVERSE MORTGAGE & REVERSE PURCHASE
– No mortgage payment
– No credit qualifying
– No income qualifying
– For borrowers 62 years or older
– Loan amount of $424,100+
Realty Executives Associates nor Debbie McBee have direct nor indirect ownership in any mortgage service provider; however, Realty Executives Associates receives earnings via a marketing service agreement (“MSA”) with Movement Mortgage.
Debbie McBee does not receive earnings via a “MSA” with Movement Mortgage.
You are NOT required to use Movement Mortgage as a condition for the purchase or sale of property with
Realty Executives Associates nor Debbie McBee.
THERE ARE SEVERAL COMPANIES THAT PROVIDE SIMILAR MORTGAGE SERVICES.
YOU ARE FREE TO SHOP AROUND TO DETERMINE YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATES FOR THESE SERVICES.