The Providence Group with Jeff Hart of SunTrust Mortgage have joined forces in Helping Our Clients Buy a New Home
1) 100% financing can be amortizing or interest-only with no PMI up to $417,000
2) 95% financing to $750,000 with 9% seller concessions.
3) Payment Abatement Program: Seller Contributions can include all closing costs, discount points, temporary buy-downs, permanent buy-downs, escrows and pre-paid expenses, and the first 6 month’s Principle and Interest of the first mortgage (buyer does not have to make any principle and interest payments on the first mortgage for the first 6 months.
4) Bridge Loan: To avoid the need for a contingency contract, the SunTrust Bridge Loan enables clients to pull out up to 90% of the appraised value of their current home to pay off their current mortgage, escrow bridge loan payments for the first six months and use the remainder toward their down payment.
5) Premier Advantage: High Income/ High Net Worth Financing allows clients with > $250K in income or >$500k in liquid assets to finance up to 100% of the purchase with one mortgage with no PMI.
6) Doctors: Allows physicians to finance up to 100% of the purchase with one loan and no PMI up to $1,500,000
7) Construction to Perm: financing for renovation or new home construction. For a primary residence or second home, the value is based on “after construction appraised value” enabling the customer to finance 100% of the purchase and remaining cost of construction up to 95% of the completed (after construction) appraised value
8) Debt to Income Ratio up to 64.9%: on Full Documentation loans up to $650,000
9) Reduced Documentation: No Income Verification, Stated Income Stated Asset, No Ratio, and No Doc Programs are all available
10) FHA/VA approval with credit scores down to 550 or no credit at all on an exception basis. Georgia DCA (Bond Loans) and City of Atlanta Grants up to $10,000 available
This list is meant solely for the real estate professionals representing The Providence Group for Reg. Z purposes and is neither inclusive nor exclusive. Not all features are available on all loan programs. This is not a commitment to lend. Clients are underwritten and approved per guidelines. Exceptions are made on a case by case basis depending on other compensating factors. Rates and program guidelines and availability are subject to change without notice. Adjustments in interest rate or discount points may apply for features or exceptions.