FHA Back to Work program allows Wisconsin borrowers to purchase a home with a recent bankruptcy, foreclosure, deeds-in-lieu, and short sales. Some of the program highlights are as follows:
· Minimum FICO score of 640 for loan amounts <= $417,000;
· Minimum Fico score of 660 for loan amounts > $417,000;
· Economic Event out of the borrowers control resulting in a reduction of household income of 20% or more for at least 6 months.
· Borrower must have reestablished a satisfactory credit history for at least 12 months;
· Borrower has fully recovered from the Economic Event;
· The borrower must have attended an approved housing counseling program at least 30 days but no more than 180 days prior to the initial loan application; and
· All other HUD requirements are met.
Give me a call or email me today to see if you qualify for this program.
Ron Meyer
(920) 213-0428
www.gsfron.com
rmeyer@gogsf.com
Home of the no appraisal refinance
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Ron Meyer is a Wisconsin licensed Sr. Loan Originator NMLS #222688 with GSF Mortgage Corporation NMLS #1018 located at 300 Patriot Dr. Little Chute, WI 54140 We specialize in financing purchases and refinancing home loan mortgages for all of Wisconsin. As a local lender we pride ourselves on offering quality service before and after your closing. Our underwriting is all done in house, allowing us to have quicker than normal processing time of your loan.
Tuesday, October 8, 2013
Tuesday, October 1, 2013
How your mortgage loan is affected by the government shutdown
Looking to close on the purchase of your home soon and have questions how the government shutdown with affect your mortgage home loan?
Here are some answer to questions. Please post a comment below if you have more information to share or a question.
Lenders are unable to order tax transcripts and SSA at this time. Transcripts are needed for all types of loans.
Conventional & VA loans are business as usual barring your lender has tax transcripts.
USDA Rural Development loans are on hold if you don't already have a conditional commitment. If you rec'd a conditional commitment already you shouldn't have an issue being able to close.
FHA loans FHA Connection is working. Lenders are able to order/update case numbers and order Caivrs
Watch your rate lock and stay in contact with your lender. Extending your lock could cost you money and the cost is determined by how long you need to extend if for. If your APR moves by more than .125% there is a mandatory 3 business day wait time to close once your new APR is disclosed.
Ron Meyer
(920) 213-0428
www.gsfron.com
rmeyer@gogsf.com
Home of the no appraisal refinance
Email subscribe to receive future updates.
Here are some answer to questions. Please post a comment below if you have more information to share or a question.
Lenders are unable to order tax transcripts and SSA at this time. Transcripts are needed for all types of loans.
Conventional & VA loans are business as usual barring your lender has tax transcripts.
USDA Rural Development loans are on hold if you don't already have a conditional commitment. If you rec'd a conditional commitment already you shouldn't have an issue being able to close.
FHA loans FHA Connection is working. Lenders are able to order/update case numbers and order Caivrs
Watch your rate lock and stay in contact with your lender. Extending your lock could cost you money and the cost is determined by how long you need to extend if for. If your APR moves by more than .125% there is a mandatory 3 business day wait time to close once your new APR is disclosed.
Ron Meyer
(920) 213-0428
www.gsfron.com
rmeyer@gogsf.com
Home of the no appraisal refinance
Email subscribe to receive future updates.
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