Types of Mortgages
This Type of Morgage requires 3.5% down
What is FHA
What is 3%
What is the maximum Debt to income for a fHA loan?
What is 50%
Is Washington Trust approved to do the Oregon Bond?
what is yes
This type of mortgage Allows for 100% financing in Rural areas.
What is USDA
True or False? As a first-time home buyer using FHA you do not have to be related to the buyer.
What is false
How long do you have to be self-employed to qualify for a mortgage?
what is 2 years
Does Washington Trust have a construction loan
what is yes
This Type allows for 100% Financing if you are a veteran.
What is VA
True or False: Gift from a family member can be used as a down payment?
What is true
Can someone with a bankruptcy get a Mortgage
What is yes. After 7 years for conventional and 2 years for FHA
What is the Max Loan to value on Washington Trust Doctor loan program and Tech Loan program
what is 95%
This Type of Financing allows you to buy a home using a loan that is more than 750k
What is a Jumbo Loan
True or false: In order to qualify for the Oregon Bond, you must be a 1st time home buyer?
What is True
What is the Maximum Loan to Value when using a cash out refinance.
what is 80%
what is Doctor loan program.
This type of loan allows you to use 1 year of business taxes if you have owned the business for more than 5 years
What is Freddie Mac
How can you be considered a 1st time home buyer
What is not owned a home in the past 3 years.
What is the minimum credit score using conventional (Freddie or Fannie) financing.
what is 620
True or false Washington Trust allows you to purchase a bare lot land.
What is false but coming soon in 2024