Financial Update by Maurice Soussé

Rates are holding pretty steady from last week and fixed rates are still incredibly low. The 10 year treasury is flat from last week.

Here is the good news…We now have a no income documentation loan back in play. This is not for a low asset, just making it by borrower. The guidelines are very specific. It is called the 49.9 loan as the bank will lend 49.9% of the sales price. The borrower must have credit scores over 740 and their post closing reserves must be a full 36 months for the sum total of all debt the borrower has. This is a great program for a retired or self employed high net worth individual. Please call me for specific details if you have a potential borrower. Great stuff for owner occupied and second homes.!!

A great quote from Harry Truman is “It is amazing what you can accomplish if you do not care who gets the credit”.