National Association of Mortgage Fiduciaries » Z1 Case Studies http://mortgagefiduciaries.com Education and Professional Ethics for the Mortgage Lending Industry Fri, 03 Feb 2012 23:09:14 +0000 en hourly 1 http://wordpress.org/?v=3.1.1 Z1: Case Studies http://mortgagefiduciaries.com/2009/11/z1-case-studies/ http://mortgagefiduciaries.com/2009/11/z1-case-studies/#comments Tue, 24 Nov 2009 23:51:57 +0000 mf http://mortgagefiduciaries.com/?p=121 Steve and Scott want to buy a small, 4 unit investment property. They will each live in a unit and they will rent out the other two units.  Steve is a Veteran. The home is located in a USDA approved area.  They have saved 10% for a downpayment. Which loan program would your group recommend for Steve and Scott?

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Greg and Lisa have lots of money. They’ve always been savvy about knowing when to make a move on a good investment and they believe the housing market has bottomed and now is finally the time to buy.  Unfortunately, they have not been terribly good at making their payments on time.  Their credit reports show a long history of not paying their bills on time, lots of medical collections, a bankruptcy tied to a medical illness, and no real “reestablished credit” after the bankruptcy was discharged…but they have a lot of money in the bank. They can make a 20% downpayment on a home.  What type of loan would best suit this couple?

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