✔The new low down-payment. Up to 97% LTV financing for home purchase and refinance transactions. However ,ask how you can put only 1% down-payment on your loan.
✔Flexible sources of funds. Can be used for the down payment and closing costs with no minimum contribution required from the borrowers own funds (1-unit properties)
✔Affordable and cancellable monthly MI. Reduced MI coverage requirement above 90% LTV: cancellable MI per Servicing Guide policy.
✔Homeownership course. The online Framework course prepares borrowers for sustainable home-ownership: other education and advising options are available.
Features
🌠Supports manufactured housing op to 95% and Homestyle Renovation (approved lenders)up to 95%
🌠Non traditional credit is allowed
🌠Gifts, grants, Community Seconds, and cash-on-hand permitted as a source of funds for down payment and closing costs
🌠Borrower is not required to be a first-time home buyer
🌠Cancellable mortgage insurance (restrictions apply) lower MI coverage (25%for LTV,s >90% to 97) compared with standard required
🌠Innovative underwriting flexibilities expand access to credit responsibly.
Flexibilities include:
✔Income from non-borrower household members considered as a compensating factor in Desktop Underwriter (DU) to allow for a debt-to-income (DTI) ratio >45%, up to 50%
✔ Rental income and boarder income
✔ Non-occupant borrowers, such as a parent
These benefits and features rank one of the highest used in todays market. Please keep my contact information handy, I would love to explain the process further and give you a quote.
Marian Garcia-Stevens
NMLS 267152
United Mortgage
0-913-754-8537
M-913-706-0105
Marian Garcia-Stevens 