PURCHASING
A NEW HOME…
FOR SUB PRIME, STATED INCOME, CONDO HOTELS, CO-OP’S, NON-WARRANTABLE CONDOS AND FOREIGN NATIONALS
You could save hundreds of dollars by refinancing without lowering your current rate. How can this be? FHA just lowered the monthly mortgage insurance premium from 1.35% to .85% per year if you are over 95% LTV. This is almost 1/2 of what it used to be. Example: if you have an FHA mortgage with 1.35% premium and you mortgage […]
You can now put down 3% when buying a home if you have at least a 620 credit score. Before the housing collapse we were allowed to put down nothing, now we are back to putting down only 3%. If you are buying a home the 3% down payment can be all given to you as a gift from a […]
You can get a mortgage after you have done a loan modification. Loan modifications were quite popular starting in 2009 through 2013. You are not seeing nearly as many since the beginning of 2014. Depending on what you did to your loan when you modified it depends on how long you have to wait if at all, after the loan […]
People do not realize that 95% of all lenders use Fannie Mae to get loans approved. The reason for this is because it is more difficult for a lender to get approved to do Freddie Mac loans. If a customer gets turned down for an FHA loan there is a very good chance the lender was trying to go to […]
The fastest way to rebuild your credit score or increase it after a BK, foreclosure, deed in lieu of or a short sale is to get a credit card most likely it will have to be a secured credit card.If you happen to be a person without any credit this will work also. A credit card is considered revolving debt […]
Yes it is true you can buy a home 1 day after your foreclosure. Your home has to have been already foreclosed, it cannot be in the process of being foreclosed. If you have a 660 credit score and 20% down you can buy a new home. You can get either a 5/1 or a 7/1 ARM. Rates start at […]
Copyright © 2023 Barclay Butler Financial Inc Equal Housing Lender |California, Florida, Georgia, Illinois, North Carolina, South Carolina, and Tennessee Residential Mortgage Licensee