Getting The Most From Your FHA Loan With ResMac Lending

Dated: 11/02/2014

Views: 991

If you think the benefits of FHA end at 3.5% down, think again. FHA is the catch-all for Fannie and Freddie denials. Unlike most banks and lending outlets who have pages of specific rules, Our Preferred Lender - The Richard Clarke Team at ResMac has no overlays on FHA guidelines. Here are a few things to expect:
  • Higher DTI ratios, up to 55%, not the standard 43%
    • This means more buying power.
      • "I didn't think I'd ever be able to get my kids into the good schools."
  • Loans up to $330,000 (Charleston Area)
    • Purchase
    • Varies by county (Up to 625K for your part of town Michael)
      • Its a two minute phone call to 843.364.4517 to find out
  • Non Occupant Co-Borrowers
    • Get a co-signer that will not live there as long as the primary applicant occupies as primary residence
  • Gifts are allowed for all of down payment
  • 580 credit score
Give our agents a call at (843) 628-0900 or Richard Clarke with ResMac Mortgage at (843) 364-4517 to see how much of a home you can afford.
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Hunter Reynolds

Hunter Reynolds is a full-time Realtor with Keller Williams Realty in Charleston, South Carolina and is Foreclosure and Short Sale Certified. He specializes in residential properties in Charleston, SC....

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