Superior Rural Housing
16
Superior Rural Superior Rural Housing Housing Presented by: Presented by: Brian McCarty Brian McCarty Senior Loan Officer Senior Loan Officer
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Rural Housing Loan Program 100% Financing For Home Buyers.
Transcript of Superior Rural Housing
Superior Rural Superior Rural HousingHousing
Presented by:Presented by:
Brian McCartyBrian McCartySenior Loan OfficerSenior Loan Officer
AgendaAgenda
1 - Overview of Program
2 - Property Qualification
3 - Borrower Qualification
4 - Wrap up & Questions
ProgramProgram Overview Overview
1 - No Down Payment Required1 - No Down Payment Required2 - No Monthly Mortgage 2 - No Monthly Mortgage InsuranceInsurance3 - No Reserve Requirement3 - No Reserve Requirement4 - No Stated Maximum Loan 4 - No Stated Maximum Loan AmountAmount5 - Loan Up to 102% of Appraisal5 - Loan Up to 102% of Appraisal
6 – No First Time Buyer 6 – No First Time Buyer RequirementRequirement7 – New and Existing Homes OK7 – New and Existing Homes OK8 – 30 Year Fixed Rate Loan8 – 30 Year Fixed Rate Loan9 – No Prepayment Penalty9 – No Prepayment Penalty10 – Seller Contributions to 6%10 – Seller Contributions to 6%
11 – No Limitation on Source of 11 – No Limitation on Source of FundsFunds12 – 100% of Money Can Be Gifted12 – 100% of Money Can Be Gifted13 – Loan Amount Can Include 13 – Loan Amount Can Include ClosingClosing Costs Costs14 – Not FICO Score Driven 14 – Not FICO Score Driven 15 – FICO > 620 Do Not Need to 15 – FICO > 620 Do Not Need to Explain Derogatory Credit Explain Derogatory Credit
PropertyProperty Qualification Qualification
Atlantic County Eligible Atlantic County Eligible AreasAreas
All of:
Borough of Buena
Buena Vista Twp.
Corbin City
Egg Harbor City
Egg Harbor Township
Estelle Manor
Folsom Borough
Cont’d
Atlantic County Eligible Atlantic County Eligible AreasAreas
All of:
Galloway Township
Hamilton Township
Mullica Township
Port Republic City
Weymouth Township
Borrower Borrower QualificationQualification
Income LimitsIncome Limits
Wrap – UpWrap – Up
QuestionsQuestions
Brian McCartyBrian McCarty
Senior Loan OfficerSenior Loan Officer
609-294-4312 Office609-294-4312 Office
609-294-4642 Fax609-294-4642 Fax
609-618-9939 Cell609-618-9939 Cell
[email protected]@supmort.com
www.brianmccartysmc.comwww.brianmccartysmc.com
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