The
Deal Saver – Zero Down Loan Programs.
Did
another lender decline your loan? Here is how the Deal Saver
can get you into your dream home when other lenders have
to turn you away.
-
Lower Credit Score Requirements – Most lenders
will say you need at least a 680 middle
credit score for a zero down loan. Our Deal Saver will
go as low as a 580 middle credit score.
-
Higher allowance of debt - Did your lender say you didn’t
qualify? They might have told you that you need to be
below a 38% debt to income ratio. The Deal Saver allows
for a 50% debt to income ratio. What does all this technical
lingo mean? Simply it is easier to qualify for this
loan than the more “traditional” zero down
loans.
- “Stated”
Income Documentation – Most self-employed persons
write off the majority of their income. Therefore it
is harder to document true income. The Deal Saver program
allows you to simply “state” your income
on the application without showing tax returns. You
will need a 620 credit score and proof that you’ve
been self-employed for two years. A “stated”
W2 wage earner option is also available with a 640 credit
score.
- Loan
Amount – Your bank may have told you can only
go to $322,700. The Deal Saver allows you to go to 1.125
million.
-
Occupancy – The Deal Saver will allow a primary,
vacation, or even an investment property.
- Property
Types – Single Family, Condo, Town home, 2-4 units.
-
Bankruptcy – Discharged 2 years is acceptable.
-
Foreclosure – Two years showing income, three
years on a stated program.
With
all of these options, there rarely is a deal we cannot save.
To learn how to put the Deal Saver program to work for you
contact your local Sharp Mortgage Group loan consultant.
toll
free 866.272.8260
