All Forum Posts by: Melvin List

Many lenders have overlays. You can still go FHA down to a 500 credit score with a manual underwrite.

The Homeready First program offers a $5000 grant for primary homes.

I would let your loan officer know that them telling you that you will skip 2 payments is a direct TRID violation. Most companies that only do VA and FHA streamlines are mortgage sweat shops. You might skip 2 payments but you are still paying the interest just in the arrears.

I would alway throw in a broker when you are shopping. Your might be surprised if you find the right broker the difference in rates and pricing depending on your situation.

There are a ton of options out there for HELOC's on investments properties.

@Jaquon Miller Did you already pull the trigger? IRRL rates are smoking right now.

@Tange English 4 homes on one lot? If so you will probably need a blanket loan.

You can absolutely do FHA with 3.5% down if you plan on living in one of the units

@Juan A. Ortiz Reach out to me. I have a broker licensed in TX with my company that will be able to beat both those retail lenders that you mentioned.

This would fall under the delayed finance exemption. For this product most lenders will go off of the purchase price plus your rehab cost for a conventional loan.