Ok, help me out guys

[rubbieslippers]

People don’t often like to accept VA loans because they have to jump through a few hoops. But that’s because they are good loans. The loan amount can’t exceed 417k. I don’t think many builders are offering VA right now, but it’s worth a try to check.

“,and all they are REQUIRED to do is pay about 1200 in closing costs”

I meant the seller is required, the buyer can try to negociate a va no down no closing- VA no no.

TTFN

[guitar187]

No doc is not the same as stated. Even if he does go stated they will want a 4506 (which alllows them to get a copy of your tax returns). If they guy is active in the military or on any type of fixed income you are wasting your time. If the DTI is tight, but he has reserves, etc., you may have a chance FHA at 97%.

Also, PM me if you need to hang your license somewhere 🙂

Find your next home online at http://www.jc-properties.net

[guitar187]

No doc is not the same as stated. Even if he does go stated they will want a 4506 (which alllows them to get a copy of your tax returns). If they guy is active in the military or on any type of fixed income you are wasting your time. If the DTI is tight, but he has reserves, etc., you may have a chance FHA at 97%.

Also, PM me if you need to hang your license somewhere 🙂

Find your next home online at http://www.jc-properties.net

[guitar187]

No doc is not the same as stated. Even if he does go stated they will want a 4506 (which alllows them to get a copy of your tax returns). If they guy is active in the military or on any type of fixed income you are wasting your time. If the DTI is tight, but he has reserves, etc., you may have a chance FHA at 97%.

Also, PM me if you need to hang your license somewhere 🙂

Find your next home online at http://www.jc-properties.net

[guitar187]

No doc is not the same as stated. Even if he does go stated they will want a 4506 (which alllows them to get a copy of your tax returns). If they guy is active in the military or on any type of fixed income you are wasting your time. If the DTI is tight, but he has reserves, etc., you may have a chance FHA at 97%.

Also, PM me if you need to hang your license somewhere 🙂

Find your next home online at http://www.jc-properties.net

[guitar187]

No doc is not the same as stated. Even if he does go stated they will want a 4506 (which alllows them to get a copy of your tax returns). If they guy is active in the military or on any type of fixed income you are wasting your time. If the DTI is tight, but he has reserves, etc., you may have a chance FHA at 97%.

Also, PM me if you need to hang your license somewhere 🙂

Find your next home online at http://www.jc-properties.net

[NotCranky]

I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.

[NotCranky]

I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.

[NotCranky]

I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.

[NotCranky]

I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.

[NotCranky]

I am pretty sure that with “no doc’s” they are going to have to have reserves and a low ltv to go with an institutional lender. Might work for a refi with a ton of equity but a purchase is going to be tough. There may be an exception. I saw a possibility a few months ago that Wachovia was bringing out a 90/10 stated income verified assets. Didn’t follow it.

You will need to have relationships with a few good and very knowledgeable mortgage brokers for your clients that don’t have a handle on that. You need to be able to find the broker working the programs that your clients can obtain, if any, so don’t rely on just one person. HLS might be a good start for you as he is in your area.

Maybe there is a good down payment assistance program there? This can get someone 100% financing with nothing but a small percentage of seasoned reserves. The down payment assistance can make it as though your client is qualifying for a much smaller loan.

[guitar187]

Yes, use Nehemiah with FHA 97%.

Find your next home online at http://www.jc-properties.net

[guitar187]

Yes, use Nehemiah with FHA 97%.

Find your next home online at http://www.jc-properties.net

[guitar187]

Yes, use Nehemiah with FHA 97%.

Find your next home online at http://www.jc-properties.net

[guitar187]

Yes, use Nehemiah with FHA 97%.

Find your next home online at http://www.jc-properties.net

[Author]

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