Thursday, November 5, 2009

Outstanding New Loan Program Available for Real Estate Investors in Bend, Oregon

Outstanding New Loan Program Available for Real Estate Investors in Bend, Oregon

Market Niches WHO CAN BENEFIT?
  • People looking for a great deal for a primary, second home or an investment property

  • First time home buyers allowed

  • Non-Perm Resident Aliens are not allowed

  • Non-Occupant Co-Borrowers are not allowed
FHA VS. HOME PATH
  • FHA requires UFMI & an annual MI premium

  • Home Path only requires LPMI

  • FHA only allows purchases on primary residences

  • Home Path allows purchase options for primary, second & investment homes

  • FHA requires a full appraisal on purchases

  • Home Path requires no appraisal as the LTV is set by the purchase price

Underwriting Guidelines

LOAN LIMITS

  • Conforming $417,000 (One Unit)

TERMS AVAILABLE

  • 30 Year Fixed TRANSACTION PURPOSE

  • Purchase Only

CREDIT

  • 640 Minimum

PROPERTY ELIGIBILITY

  • Condos, PUDS, SFR, Multi Family Dwelling are eligible for financing

  • Maximum of 10 Property for owner occupied transactions

  • 4 properties owned restriction for non-owner occupied and second home transactions

LTV / CLTV

  • LTV is determined by sales price - no appraisal required

Minimal 3% Down Payment
  • No minimum from the borrower

  • Can be 100% Gifted

  • Can be a Grant

  • Can be a loan from a Nonprofit Organization, State or Local Government or Employer

Purchase Owner Occupied/ Purchase Investment Property

Appraisal Requirements

LTV DETERMINED BY SALES PRICE

  • No Appraisal Required

Email for more details. . . . .

This loan program is offered through Aaron Myra of Bridge City Lending in Bend, Oregon.

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About Me

Bend, Oregon, United States
Real Estate Broker with Taft Dire LLC We're here to help you navigate this roller coaster ride of a real estate market! Don't spend countless hours researching and sifting through ads to get your real estate answers - let us do the research for you. Email your questions and We'll provide the answers along with the links so you can see it all for yourself. When you are ready to buy or sell your home We'll guide you through the process with the best service and best fees you'll find in Central Oregon - or anywhere else.