Monday, March 24, 2014

The Kentucky FHA Mortgage Alternative to high Mortgage Insurance with a 620 credit score.

The Kentucky FHA Mortgage Alternative to high Mortgage Insurance. 


5% Gift Program
·     Conventional 95% LTV with 5% Gift
·         Minimum 620 FICO Required
·     Must be approve/eligible thru Desktop Originator
·     Borrower-Paid and Lender-Paid MI are Available 

A lot of lenders are  rolling out 100% financing with scores down to 620 .... THATS CORRECT 620!!!! we now have an agreement with our mi providers to where we can do a 95% purchase loan , with a 5% gift ..all with only a 620 score !!! must have an automated approval ,when running in du gift is considered borrowers own funds/input as own funds . Thanks and have a wonderful day .



-- 

Joel Lobb
Senior  Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346