Purchase Money 2nd Trust
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The document advertises that Acacia Federal Savings Bank offers purchase second trust loans, which provide borrowers flexible options with lower down payments of 80-10-10s or 80-15-5s and maximum first trust loan amounts of $417,000 or $596,000 depending on credit score. Purchase second trusts offer advantages for both clients, such as lower blended interest rates and no prepayment penalties, and realtors by providing a unique product and fast processing from a local lender.
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- 1. ACACIA FEDERAL STILL OFFERS PURCHASE 2ND TRUSTS Purchase 2nd Trusts give you 80 - 10 - 10s On sales price to $977,750, based on 700 credit Score * the flexibility to: 80 - 15 - 5s h Solve problem situations * h Successfully complete more sales Maximum 1st trust loan amount of $417,000 h Help more clients achieve homeownership sales price to $596,000, based on 720 credit score *30-yr. fixed program. Graham Pruitt Capital Hill Residential Direct: 703.501.1777 Mortgage Office Office: 202.543.6830 659 C Street, SE Equal graham. pruitt@afsb.com Washington, DC 20003 SM Housing lEndEr FEDERAL SAVINGS BANK A UNIFI Company For agent use only. Not for distribution to consumers.
- 2. Advantages of Purchase 2nd Trust Loans For the Client: h Lower down payment option h Ability to write off interest in many cases Avoid Private Mortage Insurance h No prepayment penalty -- 2nd can be paid off at any time Avoid FHA up-front and monthly fees h Lower blended interest rate For YOU, the realtor: h A unique product to add to your offerings h Work with a local lender with in-house processing and underwriting h Flexible option for borrowers with good credit and more cash h Great service and fast turnaround on purchase transactions h Option for non-FHA approved condos