If you need assistance, please call 916-847-3304

Fresh Start Program

Thursday, July 17, 2014   /   by Karen Bartlett

Fresh Start Program

Thought we would share a video from one of our preferred lenders on a new program that they are offering and some information from them. If you have had a Foreclosure, Short- Sale or Deed in Lieu this is some great information:

 

 

Effective July 16, 2014, I now have a FRESH START program that allows borrowers who have had a Foreclosure, Shorts-Sale, Deed in Lieu—SEE VIDEO

 

CLICK THIS VIDEO- https://www.youtube.com/watch?v=w3zqdb1pJ4Y

 

The previous requirement of eligibility was 3-7 years.

 

Here are the requirements:

*25% DOWN CONVENTIONAL LOAN

*600 CREDIT SCORE

*PRIMARY RESIDENCE ONLY

*SFR/PUD/CONDOS ARE ELIGIBLE

*43% DEBT TO INCOME RATIO MAX

 

What sets this program apart from other programs is the seasoning

requirement on previous seriously derogatory credit.

 

•  No seasoningfor Short Sale, Foreclosure, and Deed in Lieu as long as all other installment debt is paid as agreed

•  6 months seasoningfor Chapter 7 Bankruptcy and 13 Bankruptcy.

The 6 months is from the discharge date to the COE date on Summit’s new loan.

 

If you want some more information please contact Karen Bartlett at 916.880.7700 who can get you in touch with Albert from Summit Funding.

Brokered by EXP Realty of California, INC | DRE#01878277 | DRE# 01378805
Karen Bartlett
916-847-3304
DRE# 01378805 Broker Associate
DRE#01878277

metrolist logo.png The real estate listing data marked with this icon comes from the IDX program of the Sacramento Metrolist Multiple Listing Serviceā„¢ system. Information deemed reliable, but not verified or guaranteed. Users are responsible for checking the accuracy, completeness, currency, and status of all information. All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Some properties that appear for sale on this web site may subsequently have been sold and may no longer be available. Copyright 2019 MetroList Services, Inc.
Terms and Conditions

Powered by metrolist logo.png