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Investor Access – No Income Qualifying Non-Owner Occupied

Key to the lock

Investor Access - No Income Qualifying

Non-Owner Occupied

Purchase  -  R/T  -  Cash Out

Easy Underwrite – Collateral based

No Limit on Cash Out Amount

Loan Amounts 125k to 2M

Unlimited Properties

SFR, 2-4s & Condos

No Tax Returns

No Paystubs

No 4506-T

No W2s

No DTI

 

               This Will Generate New Business           

                            640 Score to 70LTV      700 Score to 75LTV

 

                          Great Solution for Foreign Nationals

       Your RE Agents have buyers who need this

            You have past/current clients who need this

                               Purchase and Refi – Cash out OK

 

  • Non-Prime Standard - Your Solution to Agency Fall-out

   30 Fixed & 5/1 ARM

                  90LTV No MI w/ 680 

                  85LTV No MI w/660

     80LTV w/ a 580

      Min FICO = 500

                  Only 1 day Seasoning on Foreclosure & Short Sale –

                  Only 1 day seasoning on BK 

      ALT DOC – 24 month bank statement option (FTHB not allowed)

   Up to 20 Financed Properties

                  Non-Owner

  • Call Richard 404-919-7545
    Or e-Mail  richard@goodfriend with your scenarios
7545 for your loan approval.

Call Richard 404-919-7545 for your loan approval.

NMLS# 1068719 GRMA# 38328 Georgia Residential Mortgage Licensee# 18978
 Branch NMLS#: 160318

 

Good Friend Mortgage offers MORE OPTIONS… To close your new home purchase loan

7545 for your loan approval.

Call Richard 404-919-7545 for your fast loan approval.

Good Friend Mortgage offers MORE OPTIONS... To close your new home purchase loan with our Non-Prime Alternative Lending Program. 

We offer you possibility options to purchase your new home with:

• A-OK for you to be approved after 1 day out of Foreclosure,
  Short Sale, Bankruptcy and paid current delinquent accounts
• Credit scores down to 500

• Up to 80% LTV of the purchase price 
• Loans up to $2 million
• 100% gift funds allowed
• O/O, 2nd homes, investment
• Previous Mortgage late……………. A-OK
• No active trade lines ……………….. A-OK
• Non-warrantable condos. ……….. A-OK
Questions? Call Richard now 404-919-7545

NMLS# 1068719 GRMA# 38328
Georgia Residential Mortgage Licensee# 18978

Call Richard 404-919-7545 for your approval

Call Richard 404-919-7545 for your approval

Use gift funds for your 3% Down Payment with GFM

Call Richard now 404-919-7545

Call Richard now 404-919-7545

homeready-standard-mcm-comparison_Page_2

Non-occupant co-borrowers allowed with a FNMA HomeReady loan.

Questions?  call Richard 404-919-7545

Questions? call Richard 404-919-7545

Effective immediately, HomeReady, a new product offering from Fannie Mae, is replacing MyCommunityMortgage.  And beginning today,   Real Estate Agents within the Good Friend Mortgage network are among the first to offer it to their clients.

Here are just a few advantages of this exciting new mortgage product:

  • 680+ FICO - No FNMA Adjustments
  • Suitable for all borrowers - including FTHB
  • Available for High Balance loans
  • Relaxed AMI income limits based on census tracts
  • Non-occupant co-borrowers allowed
  • Refinances up to 95% LTV; current non-FNMA loans eligible

Richard Simpson – Mortgage Consultant

Good Friend Mortgage Inc.

A Consulting and Financing Firm

e-Mail: Richard@GoodFriendMortgage.com
Web site: www.Richard.goodfriendmortgage.biz

404-919-7545 –Office Direct

FNMA HomeReady™ product offers up to 97% financing for a home purchase

Keys to new homeFNMA HomeReady will let your client (first time homebuyer) to borrower with confidence while expanding access to credit and supporting sustainable homeownership.

Fannie Mae listened to feedback from our partners and focused on providing the simplicity and certainty requested with the below HomeReady program benefits. :
 

  • Up to 97% financing for a home purchase with no first-time buyer requirement.
  • Improved and simplified pricing, with standard risk-based Loan Level Price Adjusters waived for LTVs >80% with a credit score >=680
  • Reduced Mortgage Insurance
  • Underwriting flexibilities include an innovative new feature that supports extended-family households by considering income from a non-borrower household member as a compensating factor in DU® to allow for a DTI ratio above 45% up to 50%.

Our recently introduced HomeReady™ product is designed for today’s market. It helps lenders serve creditworthy low- to moderate-income borrowers, with expanded eligibility for financing homes in designated low-income, minority, and disaster-impacted communities. Features include low down payment financing – up to 97 percent for purchase of a one-unit property, and up to 95 percent for a limited cash-out refinance. Other features for both purchase and refinance are a lower-than-standard level of mortgage insurance coverage (for loan-to-value [LTV] ratios higher than 90 percent), and several income flexibilities.

An innovative new feature, unique to HomeReady, supports extended-family households by considering income from a non-borrower household member – including a non-relative – as a compensating factor in Desktop Underwriter® (DU®) to allow for a debt-to-income (DTI) ratio higher than 45 percent, up to 50 percent. HomeReady also permits consideration of rental income from an accessory dwelling unit, such as a basement apartment, and from boarders. To help support affordability, standard risk-based pricing is waived on any HomeReady loan with an LTV ratio above 80 percent and a credit score of 680 or higher for your borrowers, HomeReady offers accessible and sustainable financing.   Flexible sources of funds can be used for the down payment and closing costs with no minimum contribution required from the borrower’s own funds for 1-unit properties.

The required homeownership education will be provided through an online course to help buyers get ready to buy a home and be prepared for the responsibilities of homeownership.

Richard Simpson – Mortgage Consultant

Good Friend Mortgage Inc.  A Consulting and Financing Firm
e-Mail: Richard@GoodFriendMortgage.com
Web site: www.Richard.goodfriendmortgage.biz

404-919-7545 – Home Office

NMLS# 1068719 GRMA# 38328  Georgia Residential Mortgage Licensee# 18978  Branch NMLS#: 160318

OurMission2

 

 

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