LOAN PROGRAMS

Prime, AltA, High CLTV, NonPrime, Hard Money, Construction.

WE DO:

Alt-A Loan is a loan that requires a minimum credit score of 620, that allows nontraditional earners who lack consistent verifiable income levels, an expanded range of documentation types.

Conforming loan (Fannie Mae) is a mortgage loan that conforms to Government Sponsored Enterprises guidelines.

Sub-Prime Loan is the practice of making loans to borrowers who do not qualify for the best market interest rates because of their deficient credit history

Reverse Loan is a loan available to seniors (62 and over in the United States), and is used to release the home equity in the property as one lump sum or multiple payments.

Commercial Loan is a loan made using real estate as collateral to secure repayment

Jumbo Loan is a mortgage with a loan amount above the industry-standard definition of conventional conforming loan limits.

Hard Money Loan is a specific type of loan in which a borrower receives funds based on the value of a specific parcel of real estate. LTVs are usually less than 65 percent and credit scores, if required, are less than 500.

 Types of Financing

Amortized Loan: A loan for which the loan amount plus interest owed is paid off in a series of regular equal payments.

Interest-only Loan is a loan in which for a set term the borrower pays only the interest on the principal balance, with the principal balance unchanged

Negative Amortized Loan, is a method in which the borrower pays back less than the full amount of interest owed to the lender each month

Option ARMs Loan is an adjustable rate loan with added flexibility of making one of several possible payments on your mortgage every month, in order to better manage your monthly cash flow.

Documentation

SISA Stated Income-Stated Assets
SIVA Stated Income-Verified Assets
Full Doc All income documentation must be verified
No Ratio Employment and assets are verified
NINA No income-No Assets-No employment are verified

For further details on these programs and documentation, please contact us for further detail