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SUB 640 FICO
PRMI services a portfolio of FHA mortgages in house, so we don't have to contend with credit score overlays from institutional investors. We adhere to the FHA credit guidelines allowing for borrowers with scores as low as 500 (with a 10% down payment) and 580 (with a 3.5% down payment).
203K
We specialize in the 203k rehabilitation loan for purchases and refinances. Our experience with the program makes the complicated process easy for the loan originator and borrower.
BREATHE EASY
Do you want to offer a great loan program for new home purchases? Our breathe easy program allows borrowers to pay only principal payments for the first six months, allowing new home owners to have cash flow for moving expenses and furniture. Builders love this program!
MAKES SENSE UNDERWRITING
PRMI makes loans that make sense. We don't have any debt to income ratio overlays and allow AUS approvals even if the DTI exceeds 45%. If the loan makes sense, we'll do our best to approve it!
JUMBO LOANS
At Primary Residential Mortgage, we do jumbo loans. Unless Congress extends the high cost loan limits, the new threshold will be $625,500 on October 1st. We'll lend up to two million dollars at 80% loan to value.
LOCK & SHOP
Don't let rapidly fluctuating interest rates derail your client's loan. Our "lock & shop" program allows your clients to lock into today's lowest rates for up to 60 days. A purchase contract is not required! Qualify your borrower and lock them in with PRMI.
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