First Mortgage Blog

 

 

Re: Investment Property Purchase Loan:  

 

¨      We offer “Low” Down-Payment Options for the Purchase of a Single-Unit Investment Property……

 

Possible to Finance 85% Loan to Value for the purchase of Investment Purchase…..

 

Possible to use Potential Rental Income to help Qualify for the Loan……

 

 

General Description

 

Investment Property-Purchase Program

Property

Type

Max

LTV

Min Credit Score

Loan Approval

1-Unit

85%

620 or Per MI

Per MI & Automated Underwriting

 

Comments:

 

Lower Credit Scores allowed, but evaluated on a case by case basis (per Fannie/Freddie).

 

This is a Conventional Loan Program for Non-Owner Occupied/Investment Single Unit Dwellings:

·         Condos are allowed

·         Town Homes allowed

·         Single Family detached allowed

·         Minimum FICO SCORE is 620 or what is required per MI Companies,

 

General requirements for this program require good credit, but lower scores and compensating factors will be considered. Loan amounts in excess of 80% of the property value must qualify for mortgage insurance, (MI). 

 

Please contact me if you have any additional questions

 

 

 

 

 

Posted by Dennis ODonoghue on May 4th, 2016 4:18 PM