Why are you looking to do FHA? I write FHA loans too, but only if the borrower has no other option. FHA loan are NOT Cheap when you factor in that FHA MIP Fee of 1.75% points stacked on the loan and then the 1.25% Monthy MI premium that is not tax deductible for many borrowers!
See loan programs #2, #4 and #5 below
1) 100% LTV- VA /Debt Payoff on Purchases too
2) 100% LTV- USDA/12 mo. into Chapter 13 BKâ€¦OK!
3) 99% LTV- FHA ($100.00 down)
4) 97% LTV- No PMI and No FHA MIP FEE of 1.75%
5) 95% LTV- No PMI
6) 95% LTV- CONDO
7) 90% LTV- No PMI 2nd Home
8) 90% LTV- JUMBO
9) 85% LTV- No PMI to Super Jumbo
STATED INCOME ALT loan programs up to Super Jumbo
10) 80% LTV- FIX nâ€™ FLIP Invest. Prop.
11) 75% LTV- NEW- Stated Income Alt
12) 75% LTV- NEW- Foreign Nationals- Stated Income Alt
13) 75% CLTV-NEW- after Short Sale, BK or Foreclosure
14) 70% LTV- Soft and Hard Money -Stated Income Alt
Closing Cost Assistance Avialable too.
$150,000 up to $1,500
$250,000 up to $3,500
$500,000 up to $10,000
This is for any borrower purchasing a listed property over $133,000 in Florida and does NOT have to be paid back
Pro Option Mortgage/ Florida
Ph: 888 662 4404
I very much agree with Annette's response below in which she says to consult your real estate professional for reputable lenders with a "proven track record."
JOAN LORBERBAUM MOORE
Broker Associate, GRI
9858 Clint Moore Road
Boca Raton, FL 33496
By the time you add in the financed 1.75% FHA MIP Fee and that monthly MI premium in extra payment, it's not all it's cracked up to be!
There are are other options that make more sense for qualified borrowers.
You can see a list of these programs at: http://www.pro-option.com
PLUS, I can help you obtain RB to pay for closing costs!
We DO NOT need to pull credit up front, just tell me some info and I can't advise
Pro Option Mortgage / Florida
888 662 4404
To limit the number of inquiries needed ask you real estate professional for referrals to lenders who are not only competitive in costs, but have a proven track record of closing on time without inducing drama into the process.
Best of success to you.
If you'd like to give me a call, I'd be happy to help you. We are located right here in Boynton Beach on Federal Highway, just a block north of Woolbright. Our rates are the lowest possible, plus we can help you get some cash towards your closing costs to help save you some money. Call me for details and I'll be happy to meet with you either in person or right over the phone!
My number is: (561)364-LOAN (5626) and my email address is: firstname.lastname@example.org.
Looking forward to hearing from you!
Streamline Financial Group, Inc.