propertylocator
08-12-2005, 12:58 AM
100%LTV FINANCING -500 FICO SCORE QUALIFYING REQUIREMENTS
Loan amounts from $75K to $350K. PURCHASE ONLY, no refi.
30 year financing, int. rate 6.5 -8.5% 30 yr.amort, depending on total package
3 points origination fee by lender, paid at closing from loan proceeds
6 mo prepay penalty of 1.5%
• Buyer must have a minimum middle FICO score of 500, 3 bureaus
• No down payment required
• 12 month employment history
• No bankruptcies, foreclosures or repossessions in the past 24 months
• A min. of two current trade lines,12 months seasoned in good standing
• No more than $1000 in total collection accounts
• Debt to income ratio up to 50% OK
• Subject property appraised value cannot exceed $350,000.00
• For owner occupants only of single family homes
• Buyer must have at least 2% of purchase price in cash to cover normal closing costs, appraisal, etc.
DOCUMENTATION REQUIRED :
1. Completed 1003 loan application ( we provide)
2. 2 years W-2’s,
3. 60 days pay stubs,
4. Verification of current rent,
5. Verification of employment,
6. Property appraisal ( no more than 60 days old)
Additional documentation may be required on a needs basis by underwriting.
For more details email us your name & phone no. to sanlosenterprises@yahoo.com or visit our site at http://sanlosenterprises.atspace.com. Also can do 100% for buyers with 580 fico score as well.
Loan amounts from $75K to $350K. PURCHASE ONLY, no refi.
30 year financing, int. rate 6.5 -8.5% 30 yr.amort, depending on total package
3 points origination fee by lender, paid at closing from loan proceeds
6 mo prepay penalty of 1.5%
• Buyer must have a minimum middle FICO score of 500, 3 bureaus
• No down payment required
• 12 month employment history
• No bankruptcies, foreclosures or repossessions in the past 24 months
• A min. of two current trade lines,12 months seasoned in good standing
• No more than $1000 in total collection accounts
• Debt to income ratio up to 50% OK
• Subject property appraised value cannot exceed $350,000.00
• For owner occupants only of single family homes
• Buyer must have at least 2% of purchase price in cash to cover normal closing costs, appraisal, etc.
DOCUMENTATION REQUIRED :
1. Completed 1003 loan application ( we provide)
2. 2 years W-2’s,
3. 60 days pay stubs,
4. Verification of current rent,
5. Verification of employment,
6. Property appraisal ( no more than 60 days old)
Additional documentation may be required on a needs basis by underwriting.
For more details email us your name & phone no. to sanlosenterprises@yahoo.com or visit our site at http://sanlosenterprises.atspace.com. Also can do 100% for buyers with 580 fico score as well.