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FHA LOANS
1. Full Doc Owner Occupied to 97% (FHA)
2. Credit Scores as low as 520
3. Seller Concesion up to 6%
4. Cash out Refinances up to 95% FHA,
5. 3% Down payment can be a gift (FHA)
6. No Prepayment Penalties
7. New FHA Secure Program
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VA Mortgages
Backed by the Veterans Administration and the federal government, it is similar to FHA except that you have to be a qualified Veteran or military person.
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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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Construction/Perm 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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COMMERCIAL LOANS
We can assist you in commercial loans from $250,000 to
$25,000,000. There are development loans for construction of single family homes and condos.
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Stated Income-Stated Assets
Stated loans programs are credit score based
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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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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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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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High Debt Ratio Loans
A ratio of monthly bills to monthly income higher than 50% is considered a high debt ratio. Loan programs are available for borrowers in this situation, allowing them to finance the purchase of a home or property.
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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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80/15/5
This is a loan which carries a second mortgage for up to 15% of the purchase price of the property. It is usually used when wishing to avoid PMI insurance or to keep your first mortgage under the FNMA/FHLMC limit to avoid Jumbo rates. The borrower puts down a 5% down payment and then finances a first mortgage up to the FNMA/FHLMC limit and a second mortgage of up to 15% of the purchase price. Other variations are 80/10/10 or 75/15/5.
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No Down Payment
0% down payment required and closing costs paid by the borrower (seller can contribute up to 6% towards closing costs).
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