Sponsored by: Sid Shah EQUITY

Sponsored by:

EQUITY

RESOURCES, INC.

mortgages

Sid Shah

Director, Mortgage Origination

SShah@ 614-571-3893

? Exempt from "Qualified Mortgage" rule/law

? Any Veteran can refinance their Conventional, FHA, VA,

USDA or subprime mortgage into a 100% loan to value VA loan with no mortgage insurance!

B R E A K D O W N

Min Credit Score Down Payment Bankruptcy 7

Foreclosure

Funding Fee (Can be financed)

Monthly Mortgage Insurance

VA PROGRAM

(580) 620 Zero Down 2 Years 2 Years 2.15% No Down Pmt 2.4% (Reserve/Nat Gd) 2nd Time Users 3.3% VA Disability Zero

None

Seller Contribution

Contributions = No Max VA Concession = 4%

Qualifying Ratio Occupancy

41% Exceptions

OO Only

Income Requirement Residual Income Requirements

First Time Home Buyer OK

Miscellaneous Geographical Restriction

Lender Overlays

Yes

Buy a home with $0 down No monthly MI No Yes

Dispelling The Myths

Appraisals take forever! Too much red tape! Too much paperwork! VA takes too long! There are not many Veterans in our area. Conventional Financing is better!

Do You Remember The Past ?

Find a Home

VA Mails Guaranty To Lender

Apply for COE

Apply to Lender For Loan

Lender Orders Appraisal by Phone

VA Reviews Each Package (30 to 40 Documents!!)

Processing Time Six to Eight Weeks!

Appraisal Received by VA, Reviewed and CRV Issued

Lender Sends Loan Package

to VA

Lender Closes Loan

Lender Packages Loan and Sends to VA for Approval

VA Approves or Disapproves Loan and Notifies Lender

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