The Credit score QuickFix Mortgage program is
designed as the next LTV different to laborious cash. It's primarily for
buyers with credit score points in search of an interest-only, brief time period mortgage
as an alternative choice to laborious cash financing.
Key Options
• The next LTV than most laborious cash choices
• Nice for debtors who want a fast shut
• An interest-only 1 yr time period supplies decrease month-to-month funds
• Excellent for buying or leveraging actual property with deferred upkeep
You possibly can apply on-line right here OR comply with the steps beneath
Property Kind, Phrases and Charges
| Tier | Mortgage to Worth | Curiosity Solely Price | Mortgage to Worth | |||||||
| 1 | FICO >/= 700 | eight.75% | 75% | |||||||
| 2 | FICO 650-699 | 9.00% | 75% | |||||||
| three | FICO < 650 | 10.00% | 75% |
| Goal: | Buy and refinance transactions - Tier three most LTV on refinance is 70% |
| Mortgage Quantities: | $100,000 - $2 Million |
| Time period: | 1 yr curiosity solely |
| Credit score Rating: | No minimal |
| Prepayment Penalty: | None |
| Price Buydown: | 1 level payment = .50% fee discount |
| Alliance Charges: | 2-5% of the mortgage quantity |
| Lender Charges: | 2% + $999 underwriting payment |
| Location Add-On: | Add 1.5% to the beginning fee for properties situated in: CT, DE, FL, HI,IA, ID, IL, IN, LA, ME, NJ, NM, NY, OH, OK, PA, SC, WI |
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