You are welcome to Federal Credit Union Finance Plc, we are Registered, licensed and accredited international lender that offers all kinds of loan to peoples and cooperate organizations. So if you are in need of loans for Contracts, Projects, Investment, Personal, Business, Taxes, Bills, Education, Car, House, Refinancing, Debt Consolidation, Foreclosure and so many others loans with good interest rate. We offer loans for a minimum of 1 to 25 years in maximum, with 3% interest rate. Our loan offers are in currencies below.....
Great Britain Pounds, United States Dollars , Canadian Dollars, Singaporean Dollars, Bruneian Dollars, Malaysian Ringgits, Australian Dollars e.t.c We gives you the best satisfaction in getting a Loan from us as being given guarantee and assurance that you receive your Loan amount in your Personal Bank Account, ATM and Credit Card. Western Union / Ria Money/ Money Gram. Contact us via email@example.com
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia
Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePathÂ® | HomePathÂ® Renovation | HomeStyleÂ® Renovation | VA | USDA | GA Dream | Jumbo Financing
Here is the Fannie Mae rule call the Delayed Financing Rule, to see for yourself:
A cash out transaction is permitted within the first 6 mos if the transaction meets all â€œdelayed financing guidelinesâ€ which are shown below. If the transaction does not, then borrower must have owned the property for 6 mos. Maximum LTV allowed is shown on page 3 of the attached matrix.
Delayed Financing requirements:
The new loan amount is not more than the actual documented amount of the borrowerâ€™s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV, CLTV, and HCLTV ratios for the transaction)
â€¢ The purchase transaction was an arms-length transaction
â€¢ The purchase transaction is documented by the HUD-1, recorded Trusteeâ€™s Deed, or recorded Sheriffâ€™s Deed, which confirms that no mortgage financing was used to obtain the subject property. The preliminary title search or report must also confirm no liens on the subject property
â€¢ The source of funds for the purchase transaction can be documented (bank statements, personal loan documents, HELOC on another property). Any loans used as the source for the purchase transaction will be required to be repaid on the new HUD-1
â€¢ All other cash-out refinance eligibility requirements are met and cash-out pricing is applied
Generally speaking approx 75% is the maximum cash you can take back out of your property.
However, know this most companies are not going to touch this home of it us under 60k. there is not enough profitablity/ reason for anyone to do it. But if your investment was over 60k and you would like to see what your refi options are please fee free to call me.
Senior Mortgage Consultant
Cornerstone Mortgage Group
6151 Powers Ferry Road NW
Suite 610 Atlanta GA 30339