Lending Rules and Requirements - Cheat Sheet
So many things have changed in the lending world ( for the better) over the last month.
Thought a little Cheat sheet might help supplied by Mary & Rob Pinion.
FHA to 96.5% LTV with a 620 FICO, 6% Seller Paid Closing Costs $292,500.00 max loan amount
VA to 100% LTV with 620 FICO, 6% Seller Paid Closing Costs $417,000.00 loan amount 0 down ( higher loan amounts available)
USDA to 102% with 620 FICO, 6% Seller Paid Closing Costs
Conventional to 95% LTV FICO Higher due to Mortgage Insurance 720 $417,000.00 max loan amount
Jumbo Highlights
80% LTV to $1,000,000
75% LTV to $1,500,000
700 Minimum Credit
1 Appraisal up to $750,000 (from our HVCC compliant local appraisal group)
Competitive Rates
30yr Fixed, 15yr Fixed, 7/1 and 5/1 ARM’s
In House Processing, Underwriting and Closing
30 Day Close
Rob Pinion & Mary Pinion
Regional Manager/Shareholder
Office: 813-739-5337
Fax: 813-769-2774
Email: rpinion@fbchomeloans.com