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
Maximum LTV – 80%
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
Available in the Following States:
Arizona, Alabama, California, Colorado, Florida, Georgia, Illinois, Louisiana, Maine, Maryland, Mississippi, Nevada, North Carolina, Oregon, Pennsylvania, South Carolina, Texas, Virginia, and Washington.