1.Service First Mortgage- The Davidson Group will allow down to 600 (as well as no credit scores).Restrictions apply.
2.Maximum Loan Amount in D/FW is $334,650. This is the base loan amountafterthe 3.5% butbeforethe UpFront MIP.
3.Minimum Down Payment is 3.50%.
4.Seller can contribute up to 6% of the Sales Price provided that the buyer has the minimum 3.5% down payment.
5.Standard ratio guidelines are 31/43 but could go higher with AU (Automation Underwriting) approval. With strong credit and good reserves, we have seen up to 55% DTI (Debt to Income Ratios) run through AU but it is very important for us to look at this upfront before so that there are no issues.
6.No Termite Inspection Required and No Non-Allowables required for the seller.
7.Itisan assumable loan (important when rates go to 8% and they are at 3.75%).
8.Buyer can have Federal Tax Liens and not have to pay them off! Restrictions apply.
9.FHA uses the standard Fannie Mae appraisal form.
10. FHA allows Non-Owner Occupy Co-Signers (example would be Dad/Mom co-signing for kids- it is important to note that all parties on the loan must qualify in credit). Restrictions apply.
The Burtonteam specializes with new home buyers and move up buyers & sellers located in the following areas; Frisco, Plano, Prosper, McKinney, The Colony, Little Elm, Carrollton, Lewisville and surrounding areas. Jerry & Janna Burton puts to use advanced internet marketing for maximum exposure of your home for maximum exposure. For Buyers, we set everyone up to receive new listings once listed that match their search criteria for quick response. For help with buying or selling a property 972-625-0852.
Author:Jerry and Janna Burton Phone: 214-850-9014 Dated: February 4th 2016 Views: 92 About Jerry and Janna: Jerry and Janna Burton joined William Davis Realty in February, 2009. Both Janna and Jerry hold busi...
View our latest blog posts in your RSS reader. Click here to access.
Bill Jordan Designated / Licensed Broker & Supervisor
WILLIAM DAVIS REALTY TOP 500 BROKERAGES IN THE USA
Texas Law requires all Real Estate licensees to give the following information about Brokerage Services
Consumer Protection Notice
GENERAL FINANCING QUESTIONS Tips for Homebuyers 1. WHA
"I recently relocated back to the Frisco area to be closer to my parents and needed a 3/2 in Frisco. Marla found and showed me homes exactly to my specifications and in a very short time I had put a contract down on one.
Thank you Marla for your promptness, professionalism and hard work.