Inherited Property Financing 80% Loan-to-Value
This loan program is for people that have lost a family member and would like to keep the home.
This is a manual underwrite program
Same day approval
Fund within 2 weeks
Purpose:
- Purchase
- Refinance Rate & Term R&T
- Refinance - Cash Out
80% LTV
Future value can be used for LTV qualifying purposes
Underwriting Notes:
Credit:
This is not a credit or credit score driven loan
No minimum credit score required
Major credit events:
- Bankruptcy - OK
- Foreclosure - OK
- Short Sale - OK
Deferred maintenance - OK
Debt consolidation - OK
Debt-to-Income (DTI)
50% maximum
Future rental income considered on a case-by-case basis, underwriter's discretion
Home improvement cost can be included in the loan and paid out at the close of escrow
Reference # 457060515