Lending at it's best

Well, the training is complete for the county's newest program.  The name of this program is the Neighborhood Stabilization Homeownership Program (NSHP).  Thsi program has alot of ins and outs.  It allows for 20%downpayment assistance withh additional money that MAY be available for improvements to the property.

The county performs it's own appraisal at no cost to the borrower.  This appraisal must be 15% higher than the listed price.  It's a great program, but like most of these programs, will require a great deal of hoop jumping.  It is designed around very specific areas that include Eastvale, Norco, Lake Elsinore and many other great areas.  It is designed for foreclosed properties only.

Call me if you have questions and want to know more.

Broadview Mortgage is introducing a new loan product designed around the REO's currently on the market in need of rehab to make liveable.  How about a loan where you can Paint, Carpet, Reroof, Replumb, new A.C. & Heat, kitchen cabinets and appliances and such?  How would you like to have a loan that is one loan covering all of this.  Want to go in and steal a property because it isn't liveable, the bank won't correct it and wants to sell as-is?

I would love to hear your feedback if you are interested in hearing more

well, one of our most widely used downpayment assistance programs last week, changed the program parameters....then this week increased interest rates.  We start seeing a little daylight and they pull the covers over our heads....well, back to the drawing board.  There are still some programs to work within.

Have a great week