The American Dream, Home Ownership

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The American Dream, Home Ownership

  1. 1. THE AMERICAN DREAM:<br />HOME OWNERSHIP<br /> Contents: <br />Conventional Financing <br />Jumbo Loans <br />FHA <br />FHA Streamline <br />FHA Streamline 203k <br />HomePath <br />Home Possible <br />DU Refi Plus <br />Freddie Mac Relief Refinance <br />USDA<br /> <br />CONVENTIONAL LOANS <br />A type of mortgage in which the underlying terms and conditions meet the funding criteria of Fannie Mae and Freddie Mac <br />Purchase, Rate and Term Refinance and Cash Out Refinance <br />As low as 620 credit score<br />Us Citizen, Permanent Resident Alien and Non-Permanent Resident Alien<br />Home seller can contribute up to 9% for closing costs<br />Gifts are acceptable <br />Up to 95% Financing available<br />Up to 1-4 Units, attached or detached, PUDS, Approved Condos, Townhomes<br />No Prepayment Penalty<br />Call me today to learn more about your buyer’s home loan options! <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />JUMBO LOANS<br />A Mortgage Loan in the amount greater than conventional conforming loan limits<br />Purchase, Rate and Term Refinance and Cash Out Refinance <br />Loan amounts up to $2,000,000<br />As low as 700 credit score<br />Us Citizen and Permanent Resident Alien<br />One appraisal required on loan amounts up to $850,000. Two appraisals required anything greater than $850,000<br />Home seller can contribute up to 3% for closing costs<br />Gifts are acceptable up to $1,000,000 loan amount<br />Primary Residence only up to 1-2 Units, attached or detached, PUDS, Rural up to 10 acres<br />No Prepayment Penalty<br />Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br /> <br />Government Loans may provide the help your homebuyers need!<br />If your buyer is a first-time homebuyer a government-backed home loan offering a low down payment with relaxed guidelines may provide the edge they need to get into a home. <br />FHA Loan (Federal Housing Administration)<br />Ideal for individuals who have little money for a down payment on a Purchase<br />As low as 640 credit score<br />No extra cash reserves are necessary and down payment can be a gift<br />96.5% LTV / 100% LTV with Up Front Private Mortgage Insurance<br />Home seller can contribute up to 6% for closing costs<br />No Prepayment Penalty<br />1-4 Unit Owner Occupied Properties, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens EAD required<br />FHA Streamlined 203K Loan - enables borrowers to finance the purchase or refinance of a home and the cost of its rehabilitation through a single mortgage.<br />Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />FHA STREAMLINE LOAN - can help homeowner’s lower monthly mortgage payments and interest rates.<br />Up to 97.75% LTV on a Refinance <br />As low as 640 credit score<br />No income<br />No paystubs<br />No assets required<br />No appraisal<br />1-4 Unit Owner Occupied Properties, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens EAD required<br />Primary Residence only<br />Existing mortgage must be FHA<br />No Prepayment Penalty<br />Call me today to learn more about your buyer’s home loan options!<br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />FHA Streamline 203K Loan - enables borrowers to finance the purchase or refinance of a home and the cost of its rehabilitation through a single mortgage.<br />Up to 96.5% LTV on a Purchase <br />Up to 97.75% LTV on a Refinance <br />As low as 640 credit score<br />No extra cash reserves are necessary and down payment can be a gift<br />Home seller can contribute up to 6% for closing costs<br />1-4 Unit Owner Occupied Properties, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens EAD required<br />No Prepayment Penalty<br />Up to $35,000 in Renovation Cost for <br />Remodeling<br />New Kitchen<br />New Floors<br />New Bathroom<br />Inquiry today for more acceptable renovations!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />HomePath<br />The HomePath is a conforming loan program specifically created to provide easy, affordable financing for Fannie Mae owned homes.<br />As little as 3% down payment is required<br />As low as 620 credit score<br />No Appraisal required<br />No Mortgage Insurance regardless of the loan to value<br />Home seller can contribute up to 9% for closing costs<br />Please visit www.homepath.com for a list of eligible properties<br />Primary Residence, Second Home and Investment Properties are eligible<br />No Prepayment Penalty<br />Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />HOME POSSIBLE – is a Freddie Mac Lending Program designed to meet the needs of low and moderate income borrowers.<br />As low as 620 credit score<br />Up to 97% loan to value on Purchase and Rate and Term Refinance Transactions<br />Up to 105% CLTV if eligible for a Affordable/Community Second<br />1-4 Unit Owner Occupied Properties, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens<br /><ul><li>No Prepayment Penalty
  2. 2. Up to 6% seller contribution
  3. 3. Gifts are accepted as reserve requirements</li></ul>There are additional flexibilities for borrowers who are full time employees in one of the following professions: teachers, firefighters, law enforcement officers, healthcare workers and military personnel, including members of the United States Army, Navy, Air Force, Marines Coast Guard and National Guard under the Neighborhood Solutions program.<br />Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax<br />www.floridalowestrates.com<br />DU REFI PLUS - a Rate & Term Refinance program for loans already owned or guaranteed by Fannie Mae.<br />As low as 620 credit score<br />Primary Residence, Second Home and Investment Properties are eligible.<br />Up to 105% loan to value<br />1-4 Unit, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens EAD required<br />Existing subordinate financing must be re-subordinated<br /><ul><li>Mortgage insurance is not required if the existing loan does not have mortgage insurance in place, regardless of the LTV.
  4. 4. No Prepayment Penalty</li></ul>Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />FREDDIE MAC RELIEF REFINANCE<br />A Rate & Term Refinance program for loans already owned or guaranteed by Freddie Mac.<br />As low as 620 credit score<br />Up to 105% Financing, CLTV unlimited<br />1-4 Unit Owner Occupied Properties, Second Homes or Investment Properties, attached or detached, PUDS, Townhomes, Approved Condos<br />US Citizens, Permanent Resident Aliens, Non-Permanent Resident Aliens<br />Existing subordinate financing must be re-subordinated<br /><ul><li>Mortgage insurance is not required if the existing loan does not have mortgage insurance in place, regardless of the LTV.
  5. 5. No Prepayment Penalty</li></ul>Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />USDA / RURAL HOUSING – are offered through the Rural Housing Division of the US Department of Agriculture<br />As low as 640 credit score<br />Purchase Transactions are eligible up to 100% Financing plus 3.5% Guarantee Fee<br />Refinance Transactions are eligible up to 100% Financing plus 1% Guarantee Fee<br />1-4 Unit Owner Occupied Properties, attached or detached PUDS<br />Property must be located in a Rural Area http://eligibility.sc.egov.usda.gov<br />US Citizens or Permanent Resident Aliens<br /><ul><li>Mortgage insurance is not required regardless of the LTV.
  6. 6. Up to 6% seller contributions
  7. 7. Borrower may only own one additional property </li></ul>*The additional property may not be financed by RHS and it may not be located within a 50 mile radius of the new property being purchased.<br />Call me today to learn more about your buyer’s home loan options!<br /> <br />Premier Mortgage Consultants <br />877-276-8323 Office <br />866-739-3020 Fax <br />www.floridalowestrates.com<br />

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