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1/19/2018

No Contingent Offers



Stop worrying about making contingent offers that Sellers won't accept.
Don't wait for a rainy day to purchase a move up house

Do you  need short-term access to cash and can’t wait for your property to sell?
We can help!

Eagle Home Mortgage is now offering a 12 month Bridge Loan. Give your clients the option to access the equity in their property before its sold.
Plus, there’s no ATR requirement. Instead of a lengthy qualification process, borrowers are only asked to provide proof of assets or income source for the 12 monthly payments.

12 month Bridge Loan Eligibility Highlights

  • 1-4 Unit Single Family
  • Primary residence, second Home and investment properties
  • 680 minimum FICO
  • $500,000 minimum loan amount
  • 55% max LTV
  • U. S. Citizens only


Call me today to learn how you can help your clients get the cash they need without waiting for their properties to sell.

C G
NMLS 324982

1/18/2018

Grant Now a Lien For Three Years

Well if you have any fence sitters who need the assistance from the GSFA Platinum program you will need to let them know starting March 1st it is no longer a total gift/grant. There will be a 2nd lien that is not forgivable for 3 years so if it is a short term purchase or if they were told they can refinance in 6 months that is no longer a viable option as the grant will have to be paid back in full.

Might get a few buyers to move a little quicker!! Realtors need to know this as well J

Changes to Down Payment Assistance, Effective March 1, 2018

Effective for GSFA Platinum mortgage loans reserved on or after March 1, 2018, the optional down payment assistance will be provided in the form of a second mortgage, forgivable after 3 years and with a 0% interest rate. The forgivable second mortgage replaces the existing down payment assistance gift.

Helping individuals and families bridge the affordability gap in homeownership remains GSFA's focus and we continue to navigate the changing housing market to generate the most innovative and competitive programs and products we can.


The Program will continue to feature various mortgage loan types and assistance options for Lenders to choose from in order to best meet the needs of borrowers.

GSFA will provide additional direction and guidelines to GSFA Platinum Participating Lenders in the coming weeks.

1/16/2018

HORSE PROPERTY 2 UNITS

Menifee two houses for sale on one acre lot
Sales price listed is $549,900.

Because the houses are manufactured not many lenders will entertain this loan.

Cannot go FHA or Fannie Mae or Freddie Mac

Twenty percent down payment needed and full documentation (qualify with tax returns)
Great opportunity to have Grandmother in second home or use second home to pay your
mortgage