Florida Real Estate is coming back at a Strong and Steady Pace!
The problem these days: Borrowers are finding it much harder to qualify with all the new Crushing Over-regulation (i.e. The Dodd Frank Act) which is forcing lenders to continuously tighten guidelines. This is eliminating millions of good borrowers' ability to obtain a loan they need or desire.
However, there are still options. Below are some of the strongest programs currently available in the market, including the new Stated Income Alt Loans for Self Employed borrowers as well as the Florida Short Sale, BK, Foreclosure Forgiveness programs:
Email me at: Steve@pro-option.com
What does LTV mean? "Loan To Value"
Example: $100,000 purchase
97% LTV: 3% down payment $3,000 = $97,000 loan amount
80% LTV: 20% down payment $20k = $80,000 loan amount
What does PMI mean? "Private Mortgage Insurance"
an additional monthly payment required on loans over 80% LTV which insure the Lender only
- 100% LTV- VA /USDA
97% LTV- Prim. Res.- No PMI
97% LTV- Condo- No PMI
95% LTV- Jumbo- No PMI
90% LTV- 2nd Home-No PMI
89% LTV- Super Jumbo- No PMI
80% LTV- Foreign National
85% LTV- Rental Property- No PMI
70% LTV- Manufactured Homes over 90k
70% LTV- LOT LOANS over 90k
Stated Income Alt Loan Programs
- Stated Income/Alt.- to 85% LTV 20yr /4.00% range
- Stated Income/Alt.- to 75% LTV 30yr /4.00% range
- Office Buildings, Warehouses, Multi Unit, Apts., Strip Malls, etc.
- Under $500,000 loan amounts OK
- Commercial Lots and Vacant Land
Note: Stated Income ALT programs are Not No Doc loans, borrowers must still show The Ability To Repay the Loan. However, these programs consider different forms of income streams and allow much more flexibility than other loans. Loan programs subject to change, qualifying, min. loan amts., values, lending areas and/or select properties. Pro Option Mortgage is not acting on behalf of or at the direction of HUD/FHA or the Federal Government.
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