Financing in Philadelphia>Question Details

jsp_ddp2001, Home Buyer in Philadelphia, PA

What lenders in the Philadelphia area are still offering 80/15/5 loans? Are you able to combine construction loan with 80/15/5 loans?

Asked by jsp_ddp2001, Philadelphia, PA Sun Nov 10, 2013

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Please understand that any lender can pay part or all of buyers close ng costs through CFIRC or Credit For interest Rate Chosen. Make your decision based upon prudent facts and not emotion.
0 votes Thank Flag Link Mon Nov 11, 2013
I have a special program called purchase power where we give closing cost up to several thousands of dollars towards closing fees. As well, we have something special directly for Realtor that allows them to market for free. Give me a call let me take you to lunch and further discuss what great things I can offer you. Oh, I forgot to mention that we also have PA location, processors and in house underwriter at my hands, you can't get better than that. Call me Lacy 610-283-5846
0 votes Thank Flag Link Mon Nov 11, 2013
No 80-15- 5s don't exist any where I know of, but I think you would be better off doing a straight 95% LTV anyway. You can refi a construction loan as a Rate/Term to 95%LTV. assuming you can document the cost of construction.

Call our lending dept, we are located in Wayne.

484 302 4300
0 votes Thank Flag Link Mon Nov 11, 2013
The mortgage options available to you depend largely on your credit score and the amount of your liquid assets. I have structured creative property financing deals for several investors. I'm sure that we can create a unique financing package based on your specific situation. Please give me a call or an email so that we can get started.

Thanks, and I look forward to hearing back from you soon!

Jo Major
Keller Williams Realty Group
0 votes Thank Flag Link Mon Nov 11, 2013
I am not aware of any 80/15/5 in the current market. In certain situations I am able to offer 80/10/10 which is still seen as progressive by modern standards.
Web Reference:
0 votes Thank Flag Link Mon Nov 11, 2013
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