New program we are offering

Posted by donna on July 27, 2006 at 12:29:16:

500 FICO to 100% LTV Financing is a GREAT program for your LOWER FICO borrowers to get back on their feet. Some of the restrictions are that they have to have $5,000 or less in collections, on the job for 30 days, no major derogs (i.e. bk’s) in 24 months. This program also allows a 60% DTI, NO MINIMUM ASSETS, no MINIMUM trade lines, WRITTEN VOE TO VERIFY INCOME, also with a 24-hour underwriting. This type of program is excellent for the borrower that has had some bad luck on paying bills on time but hasn’t acquired too much debt, hence the $5,000 or less in collections. The investor we work with knows that sometimes people get into situations like this but are still good canidates for a loan.

Follow Ups:

• Re: New program we are offering - raja 12:29:13 11/20/06 (0)
• Re: New program we are offering - Jim V 23:33:34 07/27/06 (1)
  • Re: New program we are offering - raja 12:27:01 11/20/06 (0)

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Comments:
:  500 FICO to 100% LTV Financing is a GREAT program for your LOWER FICO borrowers to get back on their feet. Some of the restrictions are that they have to have $5,000 or less in collections, on the job for 30 days, no major derogs (i.e. bk’s) in 24 months. This program also allows a 60% DTI, NO MINIMUM ASSETS, no MINIMUM trade lines, WRITTEN VOE TO VERIFY INCOME, also with a 24-hour underwriting. This type of program is excellent for the borrower that has had some bad luck on paying bills on time but hasn’t acquired too much debt, hence the $5,000 or less in collections. The investor we work with knows that sometimes people get into situations like this but are still good canidates for a loan.


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