Conventional Mortgage Products:
- Conventional Mortgages with typical fixed terms of 30 year, 20 year, and 15 years. There are options to flex terms from 29 year to 11 years. The typical minimum FICO score is 620. The minimum loan to value (LTV) is 97% or 3% down. Conventional mortgages are available for primary home, second home, and investment for one to four unit residential homes (I-4 Housing). Contact us today to see if a conventional mortgage product is an option for you.
- Conventional Jumbo Mortgages are for loan amounts that exceed the agency county limit. This ranges from a loan amount over $548,250 for one unit homes to $1,054,050 for a four unit home. The maximum loan amount is up to $2,000,000 for a 30 year fixed mortgage. The maximum loan to value is 89.99% or roughly 10% down. The maximum debt to income (DTI) is 45% and a minimum FICO score of 680. No mortgage insurance is required and is available for primary, secondary, and investment homes (I-4 Housing). Only one appraisal is required for loan amounts up to $1,500,000. Available for purchase, cash out or rate/term refinaces. Contact us today to see if this product is an option for you.
Non - QM Mortgage Products: These are mortgages are not backed by the Government (FHA, VA, USDA) and do not conform to the standards of Fannie Mae or Freddie Mac agencies.
- Non - QM Platinum Jumbo Mortgages are for loan amounts with a minimum of $250,000 and a maximum of $3,000,000. This product allows four years seasoning for foreclosures, short sales, bankruptcy, or deed-in-lieu. The maximum LTV is 90% with a DTI of 40%/50% and a minimum FICO score of 660. No mortgage insurance is required and is available for owner occupied, 2nd homes, or non-owner occupied homes. A 40 year fixed rate interest only mortgage option is also available. Can be purchase, cash out or rate/term refinances. Contact us today to discuss if this option
- Non - QM Bank Statement Program is an option for self employed borrowers to purchase or refinance. Highlights include: Loan amounts up to $3,000,000, LTV up to 90%, two years seasoning for foreclosures / short sales / bankruptcy / DIL, no tax returns required, 2 years self employed required, 12 to 24 months business bank statements (must be 50% business owner past 2 years), 12 to 24 months personal bank statements (must be 25% business owner past 2 years) and a minimum FICO score of 640. No mortgage insurance is required and a 40 year fixed rate interest only option available. Contact us today to see if this option is for you.
- Non - QM Investor Cash Flow Program is for property investors to assist in building their portfolio. Highlights include: Loan amount minimum is $75,000 to a maximum of $ 1,500,000, no personal income / no employment needed, no limit on the number of properties, properties can be in LLC's name, FICO starting at 640, and maximum LTV 80%. Qualifications based on property cash flow (Minimum DSCR (DSCR - Debt Service Coverage Ratio: Rent / Mortgage) 1.0. No DSCR FICO % LTV. A year fixed rate interest only option available. Contact us today to see if this option is for you.
- Non - QM Portfolio Select Program offers flexibility, features, and benefits to those with some previous credit issues. Highlights include: Loans up to $2,500,000, up to 90% LTV, FICO starting at 620, one year seasoning for foreclosure, short sale or DIL, 2 years seasoning for bankruptcy, up to 50% DTI, and gift funds allowed. Avialable for owner occupied, second homes, and investment properties for purchase / cash out / or rate-term refinance. A 40 year fixed rate interest only option available.
- Non - QM Asset Qualifier Program offers an option for borrowers with high net worth and significant assets. No employement, no income, no DTI. For loan amounts up to $3,000,000 for a primary residence, a minimum credit score of 700 and a maximum LTV of 75%. Borrowers must have at least $500,000 in post-closing assets. Five years seasoning for foreclosure, short sale, or bankruptcy. Recurring monthly debt multiplied by 60 months. Contact us today if this option is for you.
Government Backed Mortgage Products (FHA, VA, USDA)
- FHA loans are government backed loans providing opportunity for home purchase and refinance. There are basic standard loan limits which are $356,362 for a one unit up to $685,400 for a 4 unit home. The typical minimum FICO is 580 with a minimum LTV of 96.5% or 3.5% down. The funds down can be 100% gift from family and friends. Seller contribution to seller costs can be up to 6% of sales price. There are other options for debt forgiveness for down payment financing if eligible. Contact us today if this option is for you.
- VA loans are government backed loans providing a great benefit for our military service veterans. These provide LTV of 100% or no money down. The FICO starts at 580. A certificate of eligibilty is required for this program. Contact us today to see if you are eligible for this program and if this option is for you.
- USDA loans are government loans providing a great benefit for rural housing. These are subject to property location and houshold inomce eligibility. The minimum FICO starts at 620 and provide for a 100% LTV or no money down. Contact us today to see if you are eligible for this program and if this option is for you.