Trey Thomas Mortgage Rates

Posted By Marshall Walker @ Aug 11th 2009 10:47am In: Mortgage

1)  No Employment Seasoning for W-2 salaried and Full-Time Hourly Employees
        a)  Only count base pay, no overtime/commissions/bonus income
        b)  Need only two current pay stubs
        c)  New job can be in a different field/career than prior job

2)  Second/Vacation Homes Up To 80% LTV/CLTV
        a)  Maximum loan amount on first mortgage is $500K (dependent on credit score)
        b)  Maximum loan amount on second mortgage is $100K (dependent on credit score)
        c)  Total U.S. Bank CFD loans/lines can not exceed $500K
        d)  Not available in Tier-1 states

3)  Manufactured Double-Wide Homes Up TO 80% LTV
        a)  680-mid for all borrowers
        b) Maximum loan size $200K
c)  Subject property must be permanently installed, no vinyl/wood skirting, property must be detitled

4)  Purchase Money to 90% LTV/CLTV
a)  10% down payment money can be derived from family member gift funds, 401K loans, loans taken against assets (cars, boats, motor homes, etc.) or a signature loan.  We will count the other/new loans in the DTI calculation.
        b)  10% down payment loans/funds can not be in the form of a mortgage against the property.
                c) Requires 750 credit score, max loan amt. of $500K


5)  Purchase Money to 85% LTV/CLTV

A) 660 credit score


6) Stated 80% LTV up t0 $417,000

7) FHA 580+  Credit Score



Mt Pleasant, SC

Cell: 843-367-3128

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