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TYPES OF MORTGAGE |
30/25/20/15 & 10 Year Conventional
This choice is for the standard borrower who has at least 3% of their own money to use for a downpayment. The remainder of the closing costs, taxes and insurance can come from a gift or the seller.
Home 97
This requires a 3% downpayment. You must have 3% of yuor own funds before obtaining a gift from a relative or any seller concessions. There are also grants and personal loans available to make up the closing costs, taxes and insurance. Rates are lower than the conventional mortgages. Call to see if your income fits this program!
No Income Verification Mortgages
Based upon your credit score you can borrow up to 100% of the purchase price. You must be self employed for at least two years and be able to verify ample funds to close the loan.
No Income/No Asset Verification Mortgages
An excellent choice for those borrowers who do not show enough income to qualify and don't believe in keeping their money in the bank. The amount of downpayment required depends upon your credit score. You must document that you have been self employed for at least two years with either a letter from an accountant or copy of license.
100% Non Owner Occupied Mortgages
This product allows financing up to 100% of the purchase price if credit qualified and allows for a 6% seller credit towards closing costs. A great alternative to the 30% that most banks require down. Great Rates!
Non-Conforming Loans
No Doc
A great choice for those borrowers who do not work but have a fixed income OR those that can't document income OR those who don't believe in keeping thier money in the bank. The amount of down payment & interest rate required depends upon your credit score. You do not have to be self employed!
Other Non-Conforming Programs
There s a vast array of non-conforming programs out there for borrowers who have recent bankruptcies or open collections and/or judgements but do not have some money to work with. The amount of down payment & interest rate required depends upon your credit score.
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MORTGAGE BROKERS SHOP RATES SO YOU DON'T HAVE TO. PLASE
FEEL FREE TO EMAIL US SEVEN DAYS A WEEK AT info@albanyfunding.com
TAKE ADVANTAGE OF OUR VARIETY OF LENDERS AND PRODUCTS. |
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