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Finance at Your Fingertips
 

Finance at Your Fingertips

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    Finance at Your Fingertips Finance at Your Fingertips Presentation Transcript

    • Finance at your fingertips presented by Tom Fallos imortgage TM
    • Conventional Financing
      • 5%, 10%, or 20% down
      • Reserves - 2 months PITI
      • Mortgage Insurance
        • If LTV is >80%
      • Seller Contrubutions
      • LTV % of sales price
      • <75% 9%
      • 76-90% 6%
      • >90% 3%
      • Investment 2%
    • Conventional Financing
      • Gift Funds Allowable
      • Qualifying Ratios
      • 29% =housing to income
      • 41% =debt to income
      • Interest Rates
      • depends on credit score and LTV
    • FHA Financing
      • 3.5% down
      • Mortgage Insurance
      • Upfront 2.25%
      • Annual .55
      • Gift Funds Allowable
      • Up to 100% of downpayment
      • and closing costs
      • Loan for Downpayment
      • and closing costs OK
    • FHA Financing
      • Credit Score
      • 620 required
      • Ratios
      • 29% =housing to income
      • 41% =debt to income
      • Seller Contribution
      • up to 6%
      • No Cash Reserves Required
      • Only 1 FHA loan at one time
    • VA Financing
      • 100% Financing
      • Credit Scores
      • Minimum 620
      • Ratios
      • 41% debt to income
      • Reserves
      • None required
    • VA Financing
      • Upfront Funding Fee
      • May be financed
      • Contributions Acceptable
      • Up to 4% for closing costs
      • 2% toward pre-paids
      • Gift Funds Allowed
      • Up to 100% of downpayment
    • USDA Rural Home Loan
      • 102% of Appraised Value
      • Including 2% funding fee
      • Seller Consessions
      • Up to 6 % allowed
      • Income Restrictions Apply
      • No Monthly Mort. Insurance
      • 30 Year Fixed
      • Low Rates
      • I’m always happy to answer your questions!
      • It’s nearly impossible to keep up
      • with day-to-day changes
      • in mortgage regulations.
      • It’s satisfying to know that I can help.
      Tom Fallos Sr. Loan Manager imortgage TM 480-621-3223 Tom . [email_address] . com