Brighten Lending

Variety of programs that may help even the most difficult scenarios. Please email scenario@brightenlending.com with complete loan details for guidance. As mentioned in our mission statement, our goal is to provide you with our experience, resources and expertise in residential mortgage lending so you can select the loan for your specific needs. Cho... ose from a variety of loan products with customized closing options such as NO Point or NO Point NO Fee. Whether you are a first time home buyer or an experienced investor or looking to refinance an existing mortgage, you need the right team working for you. To inquire about a home loan or to schedule an appointment with our Mortgage Consultant, please contact us. At Brighten Lending, we understand that some questions may require more than a one liner answer. If the most recent posted Q&A does not cover your topic, simply email us at BLinfo@brightenlending.com with your questions and we will respond to you as soon as possible. Q. What is the minimum down payment I need? A. Depending on the loan program, the down payment can be as low as 3.5% with a FHA insured home loan. For a conventional loan, the minimum down payment is 5%. Some of the first time home buyer programs allow as little as 3% down payment Q. When does mortgage insurance (PMI) apply? Q. Can my parents be co-signers on the loan but not live with me? A. Yes, family members are allowed to be co-borrowers on the loan when the subject property will be the borrowers primary residence. When the co-borrowers does not intend to occupy the subject property, they are known as non-occupant co-borrowers Q. What does my credit score need to be to qualify for a loan? A. We offer many programs with as low as 580 credit score. In addition to meeting the credit score requirement, you must also provide sufficient income and assets documentations as part of the qualifying process Q. Im putting a down payment of 30% on a million dollar home. Im self-employed and my tax returns show very little income. Do you have any ...Read More