We
would be able to go higher than the 85% LTV limit if the borrower can supply a
copy of the lease/rental agreement and 12 months cancelled checks.
J.
Whitney Barth
VP
Operations
Gateway
Mortgage Group LLC
From: Michelle Dearing [mailto:
Posted At: Thursday, March 11, 2010 11:39 AM
Posted To: Scenarios
Conversation: Non-Arms Length Transaction
Subject: Non-Arms Length Transaction
FHA purchase (brother to brother) . The purchasing
brother has lived in the home and paid rent for over 12 months. Is the
LTV limited to 85% in this situation?
Thanks,
Michelle Dearing
NWA Processing
Phone: (479) 273-7128
Fax: (501) 325-3777