Anything non-structural. And anything that is a safety or health requirement.
For FHA cash-out can go up to 85% and conventional is 75%.
Justin Perry
Sr. Underwriter
Gateway Mortgage Group
14850 Quorum Drive| Ste. 450|
972-908-3390
ext. 125| 918-392-8349 eFax
From: promtg1@gulftel.com
Sent: Monday, March 08, 2010 5:07 PM
To: Justin Perry
Subject: tip of the day
The "tip of the
day" mentioned unused escrows for repairs can be, ect...,
which leads me to inquire about your guidelines for cash out refinancing, and
allowable repairs that can have an escrow account set up. Please advise!
Tom Lewis
Fidelity Mortgage, Inc.
ph: 251-968-4644
fax: 251-968-4422
NMLS #204344
email: promtg1@gulftel.com