Can a Foreign National Get Financing?
A foreign national cannot get financing. FALSE! Someone who is not a US citizen and does not have a green card, can get a loan. With 35% down, no credit and no US income we can still get them financed. So, if you have a friend, client, or relative who wants to own...
You Need 20% Down to Buy a Million Dollar Home
NOT TRUE. We have 10% down up to $1,250,000. So IF your client: • wants to write a non-contingent offer, • wants to avoid the capital gains they would owe if they liquidated their stocks, • or wants to maximize their tax write off, THEN we have the program to solve...
You Can Only Use Your VA Benefit One Time. FALSE
I was just talking to a veteran who thought he was out of the game because he bought a home using his GI Bill in 1979. He was so happy to hear that if he paid off the loan in good standing he can get reinstated and use his VA again. He will pay a higher Funding Fee...
You Cannot Borrow in the Name of Your Family/Living Trust.
FALSE! As long as the borrower is also the trustee of the trust (most of us are), then you can borrow in the name of your family or living trust. The only requirement is that we get a copy of the trust to review to make sure that borrowing in the name of trust is not...