REO Property

For REO Property What Credit is Available?
Eligible REO Property (Program) Credit is available for REO Property program eligible applicants on REO Property program properties. REO Property Loans are made for 30 years at the present REO Property interest rate of 6.0% (effective June 1, 2006). REO Property Payments are based on the total family income. Eligibility REO Property is also based on credit history, REO Property repayment ability, and the REO Property availability of other credit. Non-Program REO Property Applicants Properties that will not be occupied by the REO Property purchaser can be financed for a term up to 30 years at the REO Property present interest rate of 7.5%. Purchasers must pay a 20% downpayment. REO Property Investors can obtain a REO Property loan for 10 years at the present REO Property interest rate of 6.5%. If more favorable REO Property terms are necessary to facilitate the REO Property sale, the REO Property loan may be amortized over a period of up to 30 years. REO Property Purchasers must pay a min 5% downpayment. Other REO Property Credit Terms: All non-program REO Property applicants generally pay a nonrefundable application fee of $100. A down payment of 5% of the REO Property purchase price must be made on all REO Property NP properties. REO Property Deed restrictions will be noted on the Quitclaim Deed indicating that the REO Property is inadequate for residential occupancy. The REO Property restrictions will list the inadequate areas.