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Conventional
Traditional loan programs that usually require 5% down and offer competitive interest rates. Documentation and fair-to-good credit are necessary.
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Stated Income Verification
If you’ve been self-employed for 2 or more years in the same field, file you taxes accordingly and have good credit, you may qualify for a Stated Income Loan. These loans were designed for the self-employed individual who although may earn the income to qualify for a loan, may not show all their income on their tax returns. While lenders don’t check the actual income on these stated income loans, they will check the source of the income and it must be roughly consistent with incomes earned for the type of business or line-of-work in which the applicant is employed.
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USDA Guaranteed 100% Loan
The USDA Guaranteed Rural Housing Program or GRH program is designed specifically to meet the needs of the low to moderate income, rural homebuyer who has the income to qualify for the purchase of a new home, but does not have the down payment and/or closing costs that are required.
What’s the difference between this loan and any other 100% loan program? We can lend up to 100% of the appraised value, not the lesser of the purchase price or the appraisal value as you find in all other conventional financing.
The appraisal determines the maximum loan amount.
Closing costs, all of them, may be financed when there is equity above the contract purchase price as long as the cost supported by the appraisal. And, Seller contributions without any limit are available to assist the borrower in paying the closing cost.
Translation: If the purchase price is priced to include all the fees, a borrower can purchase a home without having a down payment or closing costs.
Call for restrictions.
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Credit Problems
Troubled credit? Bankruptcy? Been turned down somewhere else? We offer loan programs for customers with credit problems.
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Jumbo Loans
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.
Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty.
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Second Mortgage Loans
Subordinate to the first mortgage, these loans offer the borrower the ability to get money for home improvement, debt consolidation, or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage.
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Construction Loans
Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that is overly complicated and time consuming. With this loan, we will finance up to 90% of the cost of land plus the costs of construction. We offer a one-time fixed rate closing or traditional ARM products.
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Investor Loans
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced, these programs have many variations, including: No Doc, Limited Doc, and Full Doc. Program may not be available in some states.
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FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3% down payment – and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.
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Flex 97%
Similar to FHA, but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.
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