Austin, Texas (PRWEB) October 01, 2013
360 Mortgage Group, LLC (360 Mortgage), a privately-owned mortgage banker, with a primary focus on third party origination, announced today that it is the exclusive provider of the Southeast Texas Housing Finance Corporation’s (SETH) 5 Star Texas Advantage Program – Option 3 to lenders, who now have the capability to provide this product to their mortgage brokers. The SETH program, previously unavailable to mortgage brokers, offers access to a 3 percent grant on FHA, VA, or USDA government loans, which will lower a borrower’s down payment to 0.50 percent of their own funds. The program is only available on Texas properties, except in the cities of El Paso, Grand Prairie and McKinney.
“360 Mortgage is excited to offer our mortgage broker partners access to the SETH program. This is a great program for mortgage brokers to help clients purchase a more affordable home and expand their business,” commented Mark Greco. “360 Mortgage is committed to the wholesale channel, and will continue to offer products with competitive pricing, while supporting the mortgage broker community with best-in-class technology and service.”
SETH 5 Star Texas Advantage Program – Option 3 Guidelines:
- Home purchase price cannot exceed $250,200.
- Minimum 0.50% from the borrower’s own funds cannot be gifted.
- Minimum 600 FICO score.
- DTI not to exceed 45%.
- Income limits restricted by County regardless of family size.
- Rate/term and non-first time home buyers permitted.
- Available on Texas properties, except in the cities of El Paso, Grand Prairie and McKinney.
“360 Mortgage is always working to expand its product portfolio to provide mortgage brokers with the best mortgage solutions for their customers. The SETH program does just that,” added Mr. Greco.
For more information on the “SETH” program please visit http://www.360mtg.com or call 866-418-2997.
About 360 Mortgage Group, LLC:
Established in 2007, 360 Mortgage Group, LLC is a privately owned mortgage bank with a primary focus on third party origination that has successfully utilized its high-technology platform to provide better communication and customer service to business partners. An approved Freddie Mac seller/servicer, Fannie Mae seller/servicer and Ginnie Mae Issuer, 360 Mortgage Group is headquartered in Austin, Texas and provides services in 31 states across the country. 360 Mortgage Group is emerging as a leader in refinancing under Home Affordable Refinance Program (HARP) 2.0. For more information on 360 Mortgage Group, please visit https://www.360mtg.com.
John Lovallo, LEVICK please call 917-612-8419 or email jlovallo(at)levick(dot)com
Katherine Herring, LEVICK please call 202-973-1315 or email kherring(at)levick(dot)com