Financing Options Changing But Not Impossible

Wachovia did a presentation stating that their Alt-A program was back.

They stated that the program can be utilized on:

• primary residence
• second/vacation homes
• investment properties

 

The eligible loan amounts

• Minimum = $40,000
• Maximum – Conforming Loan Limits

Maximum Seller Contributions

• Primary & Second Homes = 6% (up to 80% LTV/CLTV)
• Investment Properties = 6% (up to 80% LTV/CLTV)

With this program stated income with verified assets is permitted. 

Minimum of 3 tradelines with a 24 month history

All tradelines Do Not Have to be Opened and Active

12 month rental history on investment properties required