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Loan Help

posted Jan 19, 2011, 12:13 PM by Massey Kouhssari

Let me know how I may assist you

 

YOU CAN NOW DO FHA LOANS!

DON’T HAVE TO HAVE HUD APPROVAL TO DO FHA LOANS!

SEND ME YOUR LOANS!

We can also process the FHA files for you as well call me for details.

 

 

We now have MANUFACTURED HOME FHA financing.

 

 

YES WE OFFER VAFHACONFORMING,USDA AND JUMBO

 

 

Home Path; DU Refi Plus; Freddie Mac Open Access

 

New FHA Streamline refinance guidelines now 640 Mid score

 


I am here to assist you in any way!

I look forward to helping you on your next loan.

  

 

SEE BELOW FOR HELPFUL LINKSAND UPDATES

 

 

Here is a link to help answer allot of questions so you can stay in compliance with the New RESPA Guidelines

 

http://www.oaktreefunding.com/forms/forms.htm

 

 

FHA loan limits per state and county https://entp.hud..................................................................gov/idapp/html/hicostlook..cfm

 

First is a link to the condos that can be financed in this Real Estate Market. Simply click on the state then County and only sell a condo if its on that list!https://www.efanniemae.com/sf/refmaterials/approvedprojects/

 

 

USDA web site info

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

The Upfront MI on USDA is 3.5%

calculation is as follows: L/A div by .965 = $xxxx times 3.5% equals loan amt.

You can't just take 3.5% of loan amt cause it's actually 3.626943%

 

APPRAISAL INFO;

 

Due to the new guidelines pertaining to appraisals we have provided a couple of options for you. You can go to the following link and get set up with First American was told when you order appraisals it lets you pick the lender and an email address where to send the appraisal to go to when completed.  

http://www.eappraiseit.com/

 

Option number 2 is call UPF ask for Sharon at 509-343-5802 and you can order the appraisal through her.

 

FHA UPDATE

 

As of April 5, 2010 the new rate for the FHA Up Front MIP is 2.25%.  This should have no impact on the market since the MIP is financed into the loan.  The only effect is it will increase the DTI slightly for qualification purposes.  We all have to make sure that this fee is properly disclosed on all GFE’s in the future.  The new limit will take effect with all new FHA Case Numbers issued after April 5th

 

Remember that you can not get a case number without a valid contact for purchases or and application for a refinance.

 

There is no change in the monthly MIP, seller contributions or required down payment

 

All FHA loans must now have 90 days seasoning if a flip property. The sales contract must be dated 90 or more from the date the seller closed escrow on the subject property

 

 

All programs for condos in FLORIDA only have been suspended until further noticeThe following counties we are not able to lend in Miami-Dade, Broward, and Lee all are in Florida.

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