Just Approved Terry Hastings Buyers with high credit score get home with mortgage insurance
Mortgage banker: Terry
Home value: $410,000
Loan amount: $365,000
Loan terms: 4 percent 30-year fixed
Backstory: Hastings received a call from a couple who were referred by their Realtor. They were shopping around for a home, but they did not have 20 percent to put down. A friend had mentioned a Federal Housing Administration loan as their option, but would this help them?
Hastings collected their income information and ran their credit report. Their credit was very high and their salary was strong too. Hastings asked questions about how long they intended to stay in their home and explained closing costs to them as well.