Loan Programs

 

Foreign Nationals Investor Purchase

General Requirements –

• Max LTV 75%

• Max Loan Amount $1,000,000

• Qualify at 640 FICO score

• Designed for experienced investors.

Income and employment are not verified.

Documentation –

• Copies of the borrower’s passport and unexpired visa

• The following visa types are accepted for foreign nationals:

- B-1and B-2, H-2 and H-3, I, J-1 and J-2, O-2, P-1 and P-2

 

 

Asset Depletion Program

Utilize these assets to qualify for DTI Requirements

1- 100% of Cash and Money Market Accounts

2- 70% of Stocks and Bonds

3- 60% of retirement accounts (if of retirement age

Income Calculation

• Net documented assets 120 Months

  

 

ITIN Mortgage Program

Purchase, Refinance, Investment Properties

• 20% Down Payment (Gift allowed) Call for details

• 2 Years Tax Returns

• 2 Years W2 or 1099

• 3 Months Bank Statements

• Passport,ITIN Card, Drivers License

 

 

Rehab Investor Program

• Max LTV 80%

• Max Loan Amount $2.5M

• No Minimum FICO score

• 8.75-8.99% Interest Only

• Stated Income. No income verification

• 80-100% of rehab financing depending on borrower’s experience

• No appraisal required, internal BPO is done instead

• No prepay penalty, 12 month term

 

 

FHA 100% Funding Program

• Qualify at 640 FICO score

• FHA first loan with 3.5% down

• This 3.5% down can be covered by a Down payment assistance deferred payment second loan

• Closing cost assistance up to 3% of first mortgage as third loan

• Most, if not all closing cost may be covered

• You may only have to pay broker fee

• For first time home buyer only*

 

  

Bank Statements for Income

• 80% LTV

• 12-24 Months for personal and business bank statements

• Non Warrantable Condos—OK

• Lease option buyout using appraised value—OK

• No 4506 form!

• Up to 55% DTI considered

• Foreclosure Bailout considered

• Can combine W2 and 1099 income

• No FICO considered!

 

 

Creative Consumer Loan Program
Have you been wanting to buy a home, to live your American Dream but you are hampered by bad credit or a high debt-to-income ratio, 1099 income limitations, etc. etc.? Well, your weeping is over. We have killer consumer loans that will wow you. Click here to learn more. 

Investor Loan Programs
We have awesome loans for investors. Your credit can be as low as 300. Who cares. We have NIV (No Income Verified) loans that are based on VOE (verification of employment), 1099, or simply P&Ls. Click here to learn more

Fixed Rate Mortgages (FRM)
The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)
Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

Hybrid ARMs (3/1 ARM, 5/1 ARM, 7/1 ARM, 10/1 ARM)
Hybrid ARM mortgages combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

HARP 2.0
HARP 2.0 is a refinance option for homeowners that are "underwater," meaning they owe more on their home than their home is worth.

FHA Loans
FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

VA Loans
VA loans are mortgages guaranteed by the Department of Veteran Affairs. These loans offer military veterans exceptional benefits, including low interest rates and no down payment requirement. This program was designed to help military veterans realize the American dream of home ownership.

Interest Only Mortgages
Interest only mortgages are home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Components of an ARM
Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes for ARMs
This article includes a list of the most commonly used indexes by ARM lenders that affect ARM mortgage rates.

Balloon Mortgages
Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.

Reverse Mortgages
Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages
Graduated Payment Mortgages are loans in which mortgage payments increase annually for a predetermined period of time (e.g. five or ten years) and becomes fixed for the remaining duration of the loan.

What kind of loan program is best for you?
Should you get a fixed-rate or adjustable rate mortgage? A conventional loan or a government loan? Deciding which mortgage product is best for you will depend largely on your unique circumstances, and there is no one correct answer.

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