10/01/2022
DO NOT USE TAX RETURNS TO VERIFY INCOME. THE PERSON MUST BE A W-2 WAGE EARNER, AND WE WILL ONLY VERIFY W-2'S.
We do manual underwriting down to a 500 credit score. (Below 580 credit score needs 10% down and can be all gift, above 580 credit score only needs 3.5% down also can be all gift.) We allow non- traditional credit to be used. Example: rent, utility bills, insurance, etc.. You can have a 40/50% debt to income ratio with 2 compensating factors on a manual underwritten loan.
500 credit score and above we have no overlays, if HUD approves the loan we do it.
No minimum trade-lines required. No credit score required for co-borrower or non-occupying co-borrower.
We go up to 57% debt to income ratio with a credit score of 580 and above, with an automated approval. We work with people with low income.
Rental history is not required.
We do not verify / audit tax returns (4506T), only the W-2's. Buyer cannot be self-employed to use this specific progam. Unreimbursed employees expenses or a Schedule C second job loss will not be included as a loss against their income.
We offer the $100 down for HUD homes program. Also can offer escrow hold backs.
We do both the FHA 203-K streamline & the 203-K full mortgage.
Very competitive rates. Example: Buyer with 580 credit score & 3.5% down. Rates are in the 6's.
Pre-Approvals are based on AUS (Automated underwriting findings) or an underwriter reviewing file, they are not Pre-Qualifications.
We do not have any fees as a company. Buyer only pays for title, appraisal & credit.
Seller can give up to 6% for all closing costs, taxes, insurance & UFMIP.
Can flip a home into an FHA loan after 91 days.
Closings in 15-30 days.
We are now offering bank statement loans for the self employed at 10% down.
CALL NOW AND BE IN YOUR BEFORE THE END OF YEAR! 704-426-0153
