TRADE UP TO A LARGER HOME:


Buy your next home now,

before you short sell your current home.

 

This is ideal for homeowners who have

higher incomes and great credit looking to buy a bigger home.

If your gross income is 2.5 to 3 times your combined mortgage payments (your old mortgage payment + your new mortgage payment) you may qualify to Trade Up to a Larger Home.


 

Your New Home Purchase must "close" prior to the closing of your upside down property -- and you must at least meet all the *Minimum Requirements* to qualify.

 

 

NOT ENOUGH INCOME TO QUALIFY?

 
Consider adding a Co-Signer who does not have to live with you now, or later.
Combine their monthly income with your monthly income to better qualify.
Consider a Parent, Brother, Sister, Aunt, Uncle, or close Cousin, Etc.

 

Homeowners must qualify for at least all the following:

 

1)   3.5% down payment documented & available for new home

plus 6-8 months of payments in reserves (savings or retirement).

          (can be a gift from a relative)

 

2)   640+ middle FICO Credit Score from all 3 credit bureaus.

 

3)   No late mortgage payments nor installment loans in last 12 months

        (as reported 30+ days late on credit reports)

 

4)   Historical Bankruptcy or Foreclosure disqualifies applicant.

 

5)   Ineligible if existing home loan is an FHA insured loan.

 

6)   Adhere to HUD County Limits on new mortgage (Contact us).

 

7)   Purchaser(s) must qualify with normal FHA income ratios.

 

8) If you've gotten your existing home loan modified, it requires

      12 month good payment history on permanent  loan modification,

      or 36 month good payment history on temporary loan modification.

 

 

Non-owner-occupant co-borrowers are allowed to qualify

along with you for this particular home loan program

(which means your Mom, Dad, Brother, Sister, Aunt, or Uncle

can co-sign, but they don't have to live in your new home!)

VETERANS WHO QUALIFY CAN:

 

- Buy a home with $0 down (instead of 3.5% down payment)

 

- Buy your next home with VA Financing, even if your current home loan is an FHA loan

VETERANS: CLICK HERE TO SEE IF YOU QUALIFY

 

APPLY HERE

or

Call ROGER Directly (760) 383-1293