|Mary Adams Citibank Mortage|
Adjustable Rate Mortgage rates in review: ·
- 10/1 ARM reached 3.375%
- 7/1 ARM reached 2.875%
- 5/1 ARM reached 2.75%
There has been an increase in requests for investor financing over the past month. This is the time of year parents of University of Michigan students realize that purchasing a home or condominium for their college student to reside in is less expensive than paying rent.
Under certain circumstances, a college student who has established his/her own credit is eligible to purchase an Ann Arbor home (1 – 4 family), as their primary residence, for as little as 3.5% down, utilizing FHA financing. If the student’s income is insufficient to qualify for mortgage financing on their own, FHA allows mom and dad to purchase the property jointly to provide income stability and to bring debt to income ratios in line.
Citi also offers financing for Foreign Nationals who wish to purchase a home to house their college student. .
For purchasers who wish to live in a multi family home, VA, FHA and 10% down Conventional financing is available; Citi offers non occupying investors mortgage financing with 20% - 25% down. All of these financing options require a minimum credit score of just 620! Our wide range of mortgage products, low costs and competitive rates make us an excellent choice! .
Real Estate Relationship Manager
About Mary Adams:
Mary Adams has originated over 5000 mortgages loans during her 20 year long career. Mary maintains the highest level of customer satisfaction and welcomes the opportunity to help arrange your mortgage financing.
The mortgage process has never been so complex. More than ever, it’s important to work with a seasoned loan officer; one who will take time to guide you through the entire loan process. Whether you are a first-time homebuyer or are trading up, you owe it to yourself to work with a mortgage professional whose expertise you can rely on.