Bank of America Loan Programs as of Today

Bank of America Loan Programs 1.09.09
100%:
1. Doctor Loan, no PMI. Max loan amount is $1,000,000.00.
2. VA Loan, no PMI. Max loan amount $417,000.00. Seller may
pay up to 4% of closing costs, and pay off judgments and liens.
96.5%:
FHA Loan, see notes below. Max loan amts.
per county. Seller may pay up to 6% closing costs. Judgments and liens must be paid by client or 3rd party.
95%:
30yr, and 15 year fixed rate notes. Paying all closing costs for a purchase…
95% cash out refinance.

90%:
1. The No Fee Loan, with no PMI. Very limited funds at closing.
Second Home

80%:
Investment loans. Do not get mortgage protection, BPP.
Equity Lines.

75% 1. 1x Time Close Construction Loan:
A closing fee credit of up to $1,000 is offered if the customer’s newly constructed property meets Energy Star® energy efficiency requirements. The customer must submit verification, prior to document draw, that the property has been certified to meet Energy Star® energy efficiency requirements in order to receive the closing fee credit. Refer to the Energy Credit Mortgage (Program-Specific Operating Requirements) section in this Guide for important processing information. The lender credit of up to $1,000 is limited to covering transaction closing fees. The credit cannot result in cash-back to the borrower. Land used as down payment.

In addition, most all of our mortgages for primary and second homes now receive a FREE BPP policy for the first year that covers the following: 1. Disability 2. Involuntary Unemployment 3. Hospitalization 4. Loss of Life.

Please be aware of the following based on a FHA loan: With no minimum credit score, you may receive 96.5% financing. The 3% down payment may come from a blood related family member. The seller may pay up to 6% of the closing costs. In addition, a blood related family member may pay the buyers debt down to have them qualified for the loan, based on a high debt ratio outcome.

We now offer financing for up to 4 home with loan amounts not to exceed 3,000,000.00 per home. These are only a few tips that may help in this tough real estate market that we are entering. Please be aware that products and programs are subject to change without notice. Bank of America is an equal housing lender.
Raymond Duncan: Cell 1.800.455.0703 or raymond.duncan@bankofamerica.com

HAPPY NEW YEAR! GREAT NEWS!!!!!

THE LAKE LEVEL ON HARTWELL HAS COME UP A WHOPPING 6 FEET FROM OUR LOWEST LEVEL! Let it Rain, let it rain, let it rain some more!

Happy Holidays, Season's Greetings, Merry Christmas & Happy Hanukah

Happy Holidays to everyone! I hope you all had lots of wonderful time with your friends and family! I have great news....The lake level came up 2 whole feet since 12/15/08!!!I'm ever so thankful for the rain!

Rates hit historic lows!

Check out the rate below



NationsMortgage

Are you having problems coming up with the
large downpayment their bank is requiring? For credit
worthy borrowers, this should not be a problem. Check
out the programs below.


Here are some of our niches that will help alomost everyone!:
1. 102% financing with our Rural Housing Program
*call for details
2. 97% financing with FHA and Conventional loans
3. 97% financing for customers with no credit score
4. 80% financing on Investment Properties and 2nd homes
5. Stated Income loans are still available
6. Jumbo loans up to $5,000,000.
7. 95% financing on manufactured homes
8. We also do all types of Commercial Properties
9. 80% financing down to a 525 credit score.
75% financing down to a 500 credit score.
* seller held second mortgages available for each.
10. Bank statement programs available. This is great for your customers
who don’t show much income on tax returns but are depositing plenty of money
in the bank each month.

* Keep in mind that for the time being, guidelines can change quickly. I’ll
keep everyone updated if any more changes occur.

My rates today are:
30 Year FIXED rate @ 4.50%

Thank you for the opportunity to earn your business.


Jon Herring
NationsMortgage
302 Williamston Road
Anderson, S.C. 29621
864-328-1770 (office)
864-328-1778 (direct)
877-328-1770 (toll free)
864-940-0259 (cell)

There is financing out there!

NationsMortgage

For credit worthy borrowers, financing should not be a problem. Check
out the programs below.


Here are some of our niches that will help you sell every home you list:
1. 102% financing with our Rural Housing Program
*call for details
5.5% for 30 year fixed at 102% financing
2. 97% financing with FHA and Conventional loans
3. 97% financing for customers with no credit score
4. 80% financing on Investment Properties and 2nd homes
5. Stated Income loans are still available
6. Jumbo loans up to $5,000,000.
7. 95% financing on manufactured homes
8. We also do all types of Commercial Properties
9. 80% financing down to a 525 credit score.
75% financing down to a 500 credit score.
* seller held second mortgages available for each.
10. Bank statement programs available. This is great for your customers
who don’t show much income on tax returns but are depositing plenty of money
in the bank each month.

* Keep in mind that for the time being, guidelines can change quickly. I’ll
keep everyone updated if any more changes occur.

My rates today are:
30 Year FIXED rate @ 5.125%

Thank you for the opportunity to earn your business.


Jon Herring
NationsMortgage
302 Williamston Road
Anderson, S.C. 29621
864-328-1770 (office)
864-328-1778 (direct)
877-328-1770 (toll free)
864-940-0259 (cell)

Boo! It's Halloween! Be Safe & Careful!

Happy Halloween Everyone! Well, the holiday season has officially begun. Thanksgiving is coming soon and then Christmas will be around the corner. I think it would be a great idea to have a Christmas Boat Parade (for those of us who still have our boats in the water) just to show everyone that the drought doesn't have all of our spirits down. Lake Hartwell always comes back and it'll come back this time too. This is a wonderful place to live, work & play and I hope that many more people can find their way to this gorgeous part of the country (Western Upstate S.C. & Northeast Ga./ Lakes Hartwell & Keowee). Everyone get ready and.......DO A BIG RAINDANCE!!!!!

Fall Glorious Fall!

What a BEAUTIFUL Fall day it is on Lake Hartwell! I think I'll go out and take some new Fall photos of some of my listings today. Fall is almost the prettiest season on Lakes Hartwell & Keowee! ~Today, try to take the time to concentrate on the possitive aspects of our lives. We all have so much to be grateful for!