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New 2018 Conventional Loan Limits

29.11.2017
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The Federal Housing Finance Agency (FHFA) has issued the maximum loan limits that will apply to conventional loans to be acquired by Fannie Mae and Freddie Mac in 2018. The first mortgage loan limits are defined in terms of general loan limits and high-cost area loan limits. The limits are increasing in 2018.

The following chart contains the general loan limits for 2018:

The following chart contains the high-cost area loan limits for 2018:

The new limits are effective on or after January 1, 2018 […]

VA Purchase Loan Program

15.11.2017
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Current low interest rates and VA purchase loans are a winning combination to help veteran borrowers buy a home. VA loans offer great features such as no money down and credit scores as low as 550. Below market rates and no mortgage insurance mean lower monthly payments than conventional loans.

-Up to 100% loan to value

-No mortgage insurance regardless of loan to value

-Debt to income ratios up to 75% with residual income

-Credit scores as low as 550

-Loan Amounts up to $2,000,000

-Available for primary residences

-Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.
 
PDF Program Flyer Below

Conventional 5% Down Payment Purchase Loan Program

3.11.2017
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The Fannie Mae HomeReady program gives low-to moderate-income borrowers more opportunities to own a home, including expanded eligibility and a low down payment.

-As little as 5% down payment with no Minimum Borrower Contribution requirement

-Boarder Income and Non-borrower Household Income allowed

-Available for primary residences

-Loan Amounts up to $636,150

-Up to 50% debt to income ratio

-Credit scores as low as 620

-Homeownership education course is required

-Income limits apply. Check HUD Area Median Income Limits for income eligibility.

-Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

 

PDF Program Flyer Below

Derogatory Credit Reference Guide

13.04.2017
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Buying a home after a short sale, foreclosure, or bankruptcy?

In today’s environment, more and more potential customers are looking to buy a home after a short sale, foreclosure, bankruptcy, or other derogatory credit event. While the lending process can be challenging, understanding what today’s requirements are can help you assist your customers […]

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