Monday, December 31, 2007

Loan Marketing Trends

if 6 months or over is checked off on the loan application, which is often the case now,
the lenders are all moving towards a five percent reduction in loan to
value from the existing program e.g. if someone qualified at 5% down and
the appraisal comes in 6 month & over marketing trend, the underwriter
cuts the approving loan to value to 90% loan to value and the borrower then needs
to come up with 10% down.



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