*FHA Loan limits are for San Francisco county only. Interest rates are subject to change without notice and do not constitute a commitment to make any loan at any specific rate.
Sam owns a two-unit building together with a partner. After his partner moved to another city, Sam wanted to buy his share to own the entire building. The problem was that Sam’s credit score was 619, which was affected by late payments and a collection agency, that resulted from the divorce.
The only solution was to get an FHA loan. Before the change, the loan limits for two-units was $934,200.
We started working on the loan a while ago, but because Sam procrastinated with providing his documents–he missed the opportunity.
The new solution?
To clean his credit and improve the score to at least 700.
I will keep you posted.
Whom do you know that might benefit from creative mortgage solutions?
Do not keep me as a secret.
SMILE AND PLEASE SHARE IT WITH A FRIEND