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Dan the loanman

97% LTV is back!!

Tuesday, December 21, 2010 - Article by: Dan the loanman - ArcStone Financial Services - Message

97% LTV's are back!!

This is a great is a product for high quality borrowers with limited funds for down payment. If you have a loan above the FHA statutory loan limit you now have a high LTV option for a conventional loan.

97% LTV Conventional Loans

The max LTV on conforming loans is now 97%. There are no state restrictions on this product. All of the following criteria must be met:

o1 unit SFD (no condos)

oOwner occupied

opurchase or rate/term refinance

omaximum loan amount is $417,000

o720 minimum credit score

omax DTI is 41%

oborrower must contribute minimum of 3% of own funds

oappraisal review is required

Contact me for complete details and a no obligation mortgage consultation.


Dan "The Loanman"

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