Down Payment Assistance or No Down Payment Assistance
How do you go from dreaming of owning a home to holding your first set of keys? If you’re like most first-time buyers, the down… Read More »Down Payment Assistance or No Down Payment Assistance
Joseph M. Savino is a 29-year mortgage expert with 17 years of direct underwriting experience. He is a previous owner of a two top rated correspondent mortgage companies. He is a degreed graduate of DePaul University in Chicago, IL. Currently working at American Financial Network, Inc as a Regional Manager and National Renovation Division Manager. Licensed in all states we are experts in FHA, VA, USDA, Conventional loans, Renovation loans, Reverse mortgages and Non-QM (Qualified Mortgages) including bank statement loans, asset-based loans, and stated income loans for self-employed borrowers as well as hard money loans.
How do you go from dreaming of owning a home to holding your first set of keys? If you’re like most first-time buyers, the down… Read More »Down Payment Assistance or No Down Payment Assistance
Question: I’m buying a home with a four foot hole in the roof with major fire damage. I’m getting a great price point because of the existing damage.… Read More »Standard/Full 203K Quick Close System
New home buyers spend an average of $17,500 in basic upgrades and repairs in the first two years after their purchase and 90% of that is placed… Read More »Streamline/Limited FHA 203K Quick-Close System
Thinking of purchasing a three or four unit residential building using FHA financing? It’s a great opportunity. FHA allows one-unit to four-unit purchases for only 3.5% down payment. FHA defines a three or four unit property as “a single family residential property with three or four individual dwellings”.
There are two basic differences from a financing an FHA one or two-unit property versus an FHA three or four-unit property.
A manual underwrite by FHA standards is when a loan applicant cannot obtain an Approve/Eligible status through the AUS (Automated Underwriting System) and was considered… Read More »New 2019 FHA Manual Underwriting Guidelines – What You Need to Know!