USDA Refinance Loan

USDA Refinance Loan without an appraisal are being offered for a limited time.  To qualify borrowers need a 620 middle fico score.  This product is only available on a 30 year fixed home mortgage product.  Eligible property types include single family residence, single family and double wide manufactured homes, and approved condos.  There are no debt to income or loan to value restrictions on this program.  There is a 2.75% upfront guarantee fund and a .5% annual fee. This product does not require any cash reserves.  How long will list program last?  We aren’t sure so call today!

For more information call our office directly at 602-358-8717 and talk to a loan specialist.

Article 1:  USDA Refinance Loan

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Are you an investor that owns numerous rental properties?  Would you like to obtain some cash back on a rental property but have been turned down because you own too many properties?  Maybe you don’t own too many properties but you can’t qualify for a cash out refinance because your debt to income ratio is too high?

Well look no further we have a special Investor cash out loan program for you.  This program is designed for the true investor who owns numerous rental properties.  To qualify you need a middle fico score of 760 or higher.  The square footage of the home needs to be 1200 square feet or greater.  Yes, that is correct and no the bank will not make an exception if the square footage of the home is less.  You do need 18 months worth of reserve requirements.  You do not need to turn in W-2’s or paystubs or any lease agreements on your rental properties.  This program calculates your debt to income ratio off the cash flow of the property.  This is a non-qualified mortgage.  That means the interest rate is going to be higher than a Fannie Mae loan but lower than a hard money loan.