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Welcome
to TMC Lending!
Your source for consumer information
FHA Loan
Construction/Perm
Interest Only
Mortgage
Commercial Loans
Real Estate
Investor
Refinance
Loan Modification
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Aggressive Home Loan
The Aggressive Home Loan series is, frankly, poorly named but it
is a very useful program. It offers the ability to purchase a home with a sales
price up to $417,000 with only a 3% down payment. It is an FHA
clone which allows significantly higher loan amounts than FHA.
Unique Features
- Fixed Full Doc
- 575 FICO 80.01-95.00**
- 620 FICO 95.01-97.00
- 97% LTV to $350,000
- Non owners to 90% LTV
- Debt Ratios to 50%
- No Cash Reserves
- BK & Foreclosures 24 Mos. Old
- Collection & Carge Offs Allowed
- SFR, Condo, Pud & 2-4 Units
Credit Requirements
- A minimum of three credit references open for at least 12 mos. is required
for each borrower (exceptions case by case)
- All adverse credit, including delinquent taxes, must be current by loan
closing
- Collections & charge offs are allowed to $500.00 per account,
$2,500.00 in aggregate
- No sixty day (0x60) Mortgage delinquencies during the past 12 months
- BK, Foreclosures none in past 24 months
- Judgements must be paid
Credit Score Requirements
- The primary borrower must meet minimum FICO score requirements
The primary borrower is defined as the borrower with at least 50% of the
income used to qualify. If there is no primary borrower, all borrowers must
meet minimum FICO score requirement
I also have a Free report "Buying
your First Home" available by email.
I have an article "Buying
your home in 2008" by email explaining negotiating strategy in today's
market.
Brand New! I have
purchased new financial modeling software that can do sophisticated analysis of
your situation today as well as make suggestions on how small changes in how
your mortgage is structured today can have a life changing effect in the years
to come. Read more
I hope this information was useful to you. Please scroll down
to view my
Mortgage Market Guide. A weekly publication explaining the financial markets
from a consumer's perspective that is available by
email. I have nearly 8,000 subscribers and would be happy to have you as
well. Your email address will never be used for any other purpose.
 Prequalify for your Aggressive Home Loan
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