We do all types of loans and we beat the banks.
We offer no money down purchases, USDA , FHA, Conventional , Reverse Mortgages, Private Mortgages. We also have programs for good and bad credit, self employed borrowers, and rehab and home renovation loans.
Call Derek at 352-369-4200 for a free rate quote.
New low down payment and first time buyers programs
USDA is a great program for no money down 100% financing. We have the new $100 down program available on HUD REOs. We also are offering the Home one 3% down program, and the new first time conventional 3% down.
Self Employed Borrowers
We can now use 1 year tax return on self employed borrowers.
We have a private lender that will loan 70% of the value with a fixed rate starting at 8.99%. The borrower only needs 30% down. Recent Bankruptcy and foreclosures and bad credit are ok with private lender loans.This is when the borrower does not qualify for any other financing but has money to put down.
We are currently doing the FHA 203k rehab loans.
We can now do down to a 580 credit score. The USDA dropped their up front fee down to 1% and dropped their monthly fee down to .50%. The USDA now allows us to use the pool value in the home appraisal. The USDA has fixed their long wait times and we are currently at 3 days turn times
New Hud REO $100 down program
We are now doing 97% conventional mortgages. They are sometimes a better option for borrowers instead of FHA as they have no up front PMI and the monthly mortgage insurance is cheaper.
We are doing a lot of Reverse mortgage purchases. Depending on the borrowers age we can loan 50-70% of the purchase price so the borrower will only need 30-50% down. Feel free to call me for more details on this program.
These are making a come back slowly but surely. We have more lenders entering the market every day and they require 20% down and the rates are between 7.5% and 9%. This loan is for a borrower that has been denied conventional financing but still has a pretty good credit rating. One day out of foreclosure and one day out of bankruptcy is ok. They also have a bank statement program.
At Abbey Mortgage we do all types of loans, and we offer better rates than the bank. We also keep you up to date and informed thru the whole loan process. Please feel free to call with any questions and I am available 7 days a week and after hours to qualify your Loan.