The structure is simple and effective: A governmental agency purchases
the home your client has chosen. Your client then enters into a
homeownership agreement that allows them to live in and control the
property immediately. They gain the responsibilities and key financial
benefits of owning a home—including the ability to claim tax deductions
for mortgage interest and property taxes—while preparing to obtain
traditional financing in the future.
For you, this means saving deals that would otherwise be lost. For
your clients, it means achieving the dream of homeownership now.
TURN TODAY'S DENIALS INTO
TOMORROWS CLOSINGS
This program is specifically engineered to approve buyers that other
lenders turn away. Offer your clients a real path to ownership with
these flexible guidelines:
Flexible Credit Underwriting:
We can work with FICO scores starting at just 580, and exceptions may be
considered for scores below that.
Open to More Buyers:
The program is open to non-permanent resident aliens with an ITIN and
DACA recipients, creating opportunities for a wider range of clients.
Higher Debt-to-Income (DTI) Ratios:
Buyers can be approved with DTI ratios as high as 50/60, providing
greater purchasing power.
Common-Sense Income Verification:
We welcome self-employed borrowers and offer flexible income
documentation, including options to qualify using an average of 3
months' bank statements.
Forgiving of Past Financial Hardship:
The program allows for buyers who have had a recent bankruptcy (Chapter
7 discharged by closing) or a foreclosure that is more than one year
old.
Standard FHA Down Payment:
Your clients can get into their home with as little as 3.5% down, and
gift funds are fully acceptable.
Wide Range of Property Types:
The program finances 1-2 unit properties, including Single Family
Residences, PUDs, townhomes, condos (FHA approved), and manufactured
homes (no single wide).
A Clear Path to Full Ownership:
This is not a rent-to-own gimmick. The homebuyer has the right to
purchase the property or assume the mortgage from the agency at any time
during the agreement, providing a clear path to holding the title.
Key Advantages for You and Your Buyers
Are you tired of seeing hardworking clients get turned down for
traditional financing? The Earned Equity Program (EEP) is a powerful
tool designed specifically for you. This is not just another loan
product; it's a revolutionary
bridge to homeownership for buyers who may not
qualify for a standard mortgage today.
CALL TODAY
702-493-9332
Bobby Rastifard
Branch Manager
NMLS 346606