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CO Tangible Net Benefit what is required new to this state

by kristi.taylor807 from , California. Mar 22nd 2017 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Need more information as to what exactly you are looking for, but 'Tangible Net Benefit' is government speak for 'does the loan make sense' for the client. I suggest talking to a local mortgage broker in CO for more information.

Mar 22nd 2017
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Larry Gray (lgray_312_247)
#566 ranked lender in California - 1,127 contributions

Kristi, are you a loan officer or a well informed mortgage loan consumer? The Tangible Net Benefit qualifications for a cash out or limited cash out has not changed in quite some time for a conventional, fha or va loan here in California.You can contact me via my profile for an actual qualification if desired.

Mar 22nd 2017
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Much more info needed to address your specific scenario,,,, but just as an example.. All FHA loans have a NTB requirement of a 5% reduction of the monthly payment on rate and term refinance transactions.. Example: current payment $1000 per month, new payment $950.. you have met FHA's NTB requirement.. But for cash out transactions, there is no NTB requirement. For conventional, there are countless acceptable NTB's.. Removing/buying out an ex-spouse , lowering a payment, shorter term, cash out, etc... These NTB requirements are loan specific not necessarily state specific.. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 23rd 2017
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Sara Deere (SARAinMO)
#1 ranked lender in Kansas - 504 contributions

Is a requirement in regards to cash out and rate term refinancing home mortgage loans.

Mar 24th 2017
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