Three Great Loan Products from my Friends at Prospect Mortgage

by on February 23, 2011

FHA 580-639 FICO Program
We continue to lead the industry by providing world-class products and service to our clients! We are committed to extending the opportunity of homeownership through responsible lending that leads to affordable home loans.

We offer an FHA program to borrowers with FICO scores between 580 and 639. This means more opportunity for customers to qualify for a home loan!

Product highlights:

* 3.5% down
* Gift funds permitted
* Fixed-rate loan only
* Applies only to purchase loans

Jumbo Loans Mean Big Benefits!
We have expanded our ability to originate Jumbo loans. This will make it easier for consumers to qualify for loans exceeding the FNMA county limits. Since very few lenders are able to handle Jumbo loans, working with me allows you to refer your clients to a world-class full-service lender!

* Easy, convenient borrower qualification for loans exceeding the FNMA limits
* Loan amounts up to $2 million*
* Fixed-rate, adjustable-rate and interest-only loans
* Cash-out available
* Available on 1-2 units
* Primary residence or second home purchase, or rate and term refinance

Fannie Mae HomePath® Financing
Made Even More Affordable!
Great news for non-owner occupied properties: The 1.5 point pricing adjustment has been eliminated! That means qualified investors receive even more value from this exciting and affordable loan.

Highlights of this special offer on Fannie Mae HomePath® financing include:

* Qualify with 740 credit score or above
* Maximum of 70%** loan to value
* No property appraisal required

Call me today to learn how these exciting products
can create value for you and your customers!

*Based on geographic location.
**90% LTV for single family residences still available per HomePath® guidelines.
HomePath is a registered trademark of Fannie Mae.
Informational material for real estate professionals only.

For info, contact Stephanie Brown at 408-679-5203 or email her at stephanie.brown@prospectmtg.com.

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