Pay Cash, then finance after closing.
– Gives buyers the power of all-cash purchasing, without tying up their funds.
– Buy and rehabilitate a home that won’t currently pass a home inspection or otherwise won’t qualify for mortgage financing.
– Bridge loan to cover the time between when you buy a new home and sell your old one (if cannot qualify with both mortgages)
• Must have made a cash purchase from 1 day to 5 months ago
• 80% Max Loan-to-Value
• 620 Minimum Credit Score
• 45% Maximum Debt-to-Income (DTI), or 50% Max DTI with Compensating Factors (higher LTV, large cash reserves, very low debt-to-income ratios, 720+ credit score, minimal increase in housing payment)
• Loan Amounts $100,000 to $548,250