Bellingham Mortgage Blog

High LTV Financing - 95% in Washington with No MI

I have access to a great high LTV (loan-to-value) program, if your looking to purchase or refinance, but have had a hard time finding the right mortgage, read on:

• Purchase or Refinance
• 1 Day Off MLS Okay
• Rural and Acreage Okay
• No MI (Mortgage Insurance)
• Cash Out Okay
• Interest Only with No Add to Rate
• 650 Minimum Score (First Time Homebuyers 680 Minimum)

This is just one of the great programs I have access to. If you are looking for a mortgage to purchase or refinance your residential or commercial real estate, give me a call @ 800-893-4418.

Rural Purchase Loans - 102% LTV with No Credit Scoring!

• Owner occupied purchases Only (condos okay)
• 102% financing based on appraised value (not purchase price)
• Equity between appraisal and purchase price can be used for closing costs or repairs.
• Unlimited seller concessions
• No monthly MI (mortgage insurance)
• 620 credit score minimum for streamlined approval, lower scores possible!
• Fast approvals and closing.

The fine print:

• Buyer may only own one property
• Income limits apply (based on # in household, 2 person Whatcom $57,950 maximum income, childcare expenses can be deducted)
• Available ony in rural areas (includes most of Whatcom, Skagit, and Snohomish Counties, except most of Bellingham and Mt. Vernon).

This program has existed for 17 years and is a great tool to help your buyers that don’t want to live in the ‘big city’.

Please don’t hesitate to call or e-mail if you have questions or would like to prequalify one of your buyers.