Experience:
Senior Mortgage Banker for Bayburg Financial
January 2005—present
Broker licensed in 14 states. Offer FHA financing and Conventional.
Specialties:
FHA- 203K Purchases!!!!!
• Min Credit score is 540. Maybe lower-Need credit supplements.
FHA- 203K Purchases!!!!!
• Min Credit score is 540. Maybe lower-Need credit supplements.
• 50% DTI
• Requires M.I
• Rehab properties, a.k.a Fixer Uppers
Standard 203K Streamlined 203K
• 1 General Contractor 2-3 Specialized Contractors
• Larger, more complex projects Simple, single contract jobs
• Additions, Structural OK Repair, Replace, Upgrade Only
• Consultant Required No Consultant
• Detail work write-up Work Proposal for each job
• 4-5 Draw Requests 2 checks per contractor
• Min of $5k in Remodeling costs Max $35k in remodeling costs
Coventional Purchase
-10% down
-620 mid score
-DTI up to 61%
FHA Purchase
-3.5% down
-96.5% financing
-DTI 50%
-540 mid credit score minimum
-6% seller concession
FHA Refinace
• Min credit score 540. Or below- need credit supplements
• 50% DTI
• Requires MI/ escrow
• 85% Max LTV Cash Out Refi
• 96.5% Max LTV Rate and Term
• 620 credit score and above may get rates as low as 4.5% 30 year fixed. 660 and above 4.375% 30 year fixed, 4.375% 15 yr fixed, 3.875% 5/1 arm.
StreamLine FHA Refinance
• No appraisal needed
• No Income
• No credit Score
• Must be in a FHA loan already
• Loan cannot exceed original loan amount on original FHA Loan
Conventional Refinance
• Min credit score 620. Some cases below may be acceptable with compensating factors.
• 85% LTV cash out refi
• 95% LTV rate and term
• 75% LTV Second Home
• Rates as low 4.25% fixed for 30 years. Offer 10 year, 15 year, 20 year, 25 year, 30 year and 40 year loans.
Fannie Mae Refi Plus Program
• Max LTV 105%
• If you never had MI you will not get MI
• May not need appraisal based on AVM
• Upside down OKAY!!
Freddie Mac Refi Plus Program
• Same Guidelines for Fannie Mae Refi Plus
• $2500 contribuition towards closing costs from Freddie Mac
VA
• Okay!!! Call for guidelines
• $735k max
• 100% disabled, waived funding fees and no MI
Close Loans in 14 days!!!!!
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Interests:
Travelling, Tennis, Reading
About:
An Intelligent businesswoman with highly diverse knowledge and prosperity to initiate positive changes; also, not afraid to delve in unsheltered waters.
An Intelligent businesswoman with highly diverse knowledge and prosperity to initiate positive changes; also, not afraid to delve in unsheltered waters. And recognized as a proactive savvy leader/mortgage broker!!
Acquired Bachellors in Business Management, IP with MBA in international Business. Been working in mortgages since 2005. Investor in Atlanta Ga, and Florida. Invests in rehab properties, also has listings of properties in price range of 50's and above worth 110k and above. Plenty of equity!!! I'm a publisher, publish novels, children's stories, short stories and so forth. Close refi's and purchases in apprx 14 business days.
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