Financing Options Changing But Not Impossible
November 29, 2008 by admin
Filed under mortgages, real estate info
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
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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.Â
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
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