Just a reminder, we only require a 620 score for government files. I have received a few calls recently where I was being asked if we needed a 640.
We only need a 620 score for FHA loans.
The other thing I have noticed is that a lot of competitors are placing a negative price adjustor on these files with scores between 620-659. We do not have a negative price adjustor for FHA files. I had a purchase yesterday where we were a full point better on an FHA file with a 220k loan amount that was targeted elsewhere.
Please make sure when you are checking Government rates that you are checking with us. Let me know if you have questions. massmortgageloan.com
One other positive piece of information:
There are no longer any declining markets in Massachusetts for conventional conforming business. That means 95% ltv on single family with a 41% dti, and 720 score.
Please let me know if you have questions. massmortgageloan.com
Thanks very much.