100% LTV Loans in Panama City Beach

By Guest | June 9, 2009

Many borrowers are at the beginning of their careers and heading towards their affluent years. They have not quite saved enough for the down payment for a new or existing dream home that has become available. Our 100% LTV program with a fixed rate fits their needs to meet their housing requirements now. Up to 6% seller contribution for non-recurring closing costs.

Highlights

Any Single Family residence North of Front Beach Road.
Owner Occupied, purchase only and not own property in past 3 years.
No Private Mortgage Insurance
Credit score of 620+ for all borrowers
Income limit (1-4 persons- $73,600, 5-8 persons-$97,150)
No down payment required
Qualifying ratios of 33%/41%.
Upfront 2% Guarantee fee added to loan amount or Seller can pay.
6% Seller contributions allowed.
Closing costs, legal fees, and other eligible costs can be rolled in to loan.
Property types – SFR or PUD (no mobile homes and log cabins)

Available Programs

30 year fixed interest rate only

Eligible applicants

Have a steady and dependable income
Demonstrate a reliable credit history; ability and willingness to repay debts.
Be a US citizen or be legally admitted for permanent residence

Current rates

5.5 % @ 1 point or 6.00% @ zero points

Jennifer Sarte’ Larck
Loan Officer
First Franklin Mortgage Corporation
6927 N. Lagoon Drive
Panama City Beach, Florida 32408
(850)588-7396
(850)588-7400 Fax
info@1franklin.com email
www.1franklin.com apply online
Call now for details
Local Lender, Professional Service Since 1993
(850)588-7396 Fax # (850)588-7400

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