Its really hard to say without seeing pictures/ appraisal of
damage. Not sure if there is any framework damage, drywall damage from
leaky roof etc….you can do a escrow hold back up to 4999 ONLY for FHA
loans. Sounds like something we would entertain but not sure until we see
the appraisal. Sorry I couldn’t be more definitive. Thank you
Steve Peters
COO/ CCO
Gateway Mortgage Group LLC
From: Kandice
Sent: Thursday, August 05, 2010 10:28 AM
To: 1-Setup
Cc:
Subject: SCENERIO/needs roof
Importance: High
PURCHASE/
MID SCORE 740/ ROOF NEEDED/$25,000 IN ASSETS IN DEAL/ PURCHASE PRICE $125,000/
APPRAISED $140,000/ ROOF ESTIMATE IS $5,000 MAKING BACKEND RATION 55/ FRONT END
IS 27/ $192 MONTHLY STUDENT LOANS/ HAS HIS DEGREE AND HAS BEEN PROMOTED MANY
TIME AND EMPLOYED BY THE SAME COMPANY FOR 10 YEARS/ LENDER CONCESSIONS UP TO
$5,000
Kandice