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Programs

PEOPLE come to us for our PROGRAMS! There is no need to look elsewhere! We have the right product, at very competitive rates and terms that will make you happy. Our qualified professionals are here to go the extra mile to ensure that the program you select is the one that best suits your needs and lifestyle.

Conventional

1. Conforming Fixed Rate

15, 30, 40-year mortgage programs.
Interest rate remains fixed for the term of the loan term. Now offering 1-0, 2-1, and 3-2-1 temporary buy-down options, payable by either a third-party or the lender.  Customized loan term available for the borrower who desires a specific payoff target date.

2. Conforming Adjustable Rate

(ARM) 15, 30, 40-year mortgage programs.
3/1 5/1, 7/1,10/1 options available.  Interest rate remains fixed for 3, 5, 7, or 10 years then adjusts to market rates for the remainder of the loan term. Customized loan term available for the borrower who desires a specific payoff target date.

3. Conforming Specialty And Down-Payment Assistance

Products with lower or no-money down-payment requirements and First-time Home-buyer programs.

4. Jumbo Mortgages

Loan amounts that exceed county specific conforming loan limits as designated by Fannie-Mae/Freddie-Mac. We offer jumbo financing options up to $10 million and with the highest loan-to-value ratios. Call us!

5. Non-QM (Alternative Documentation):

Specialty products for the borrower who cannot qualify with traditional loan products:

  • Bank Statement Loan (12 and 24 month) – Qualifies the borrower from bank statement deposits.
  • Profit & Loss Statement Loan – A loan based on net business income as represented by a CPA (audited) review of borrower income and expenses.Asset Depletion Loan – Qualifies the borrower from savings in deposit accounts (eg. stocks, bonds,annuities)
  • Stated Income – Qualifies from borrower disclosed income on the mortgage loan application.
  • No Income Qualifying loans – No income documentation provided by borrower.
  • Debt-Service Coverage Ratio (DSCR) Loan (Investor loan). Borrower qualifies based on incomeearned by or projected income of the subject property.
  • ITIN loan – This product is uniquely suited for individuals who do not have a Social Security Number.  Using their taxpayer identification number, these individuals have a path toward homeownership as they can get a mortgage loan, provided they meet the standard credit and income requirements applicable to all borrowers. We offer products with the best financing options for this type of borrower.
  • Foreign National loan – A type of loan that helps noncitizens buy investment property in the United States. This loan has requirements (and interest rates) that slightly differ from standard conforming loans. The required down payment is typically 25% of the purchase price.

6. Construction

Traditional construction and construction-to-permanent financing options. Our process is free of red tape and we pride ourselves on providing competitive rates and exceptional service. We can typically have you making draws for construction in about 30 days, while most banks take 60 days or more to get the ball rolling

7. Second Mortgages/HELOC

We offer Stand-Alone and Home Equity Line of Credit second mortgages to 90% of your home’s appraised value.  We also offer second mortgage financing to borrowers with alternative (non-traditional) income sources of income.

8. Portfolio

These products are not constrained by the requirements of conventional mortgage.  They offer easier underwriting and more flexible terms than traditional loan products.

9. Hard Money

A variety of private money sources that offer short-term financing based on a borrower’s ability to repay.

10. Multi-Family (5+ Units)

Competitive financing for your multi-family housing financing needs (to 50 units).  Call us for your unique property or financing scenarios.

Government

1. FHA 203(B)

3.5% down-payment for traditional programs
No down-payment options with a variety of down-payment assistance programs
Program options for borrowers to 500 FICO score (specific guidelines with higher down-payment requirements)

2. FHA 203(K)

HUD insured home rehabilitation loan. Can be used to fund both a home’s purchase and renovations under a single mortgage. It allows home buyers who are considering purchasing a fixer-upper that requires multiple repairs and significant rehabilitation efforts to roll the cost of both the property and their project into one loan. Existing homeowners can also apply for an FHA 203(k) loan and use it as a means through which to refinance their property and fund the costs of an upcoming renovation through a single mortgage as well

3. USDA

100% Financing (No down-payment required) – Financing for primarily low-to-moderate income borrowers for homes located in HUD designated rural areas.

4. VA

A home loan guaranty benefit to help you buy, build, repair, retain, or adapt a home for your own personal occupancy.  This product provides 100% financing for U.S. Servicemembers and eligible surviving spouses.

5. Reverse

Reverse Mortgages – An FHA insured loan for senior homeowners 62 and older that allows you to tap into the equity of your home and free yourself from the burden of monthly mortgage payments, to obtain needed cash to pay bills, for savings, or to purchase a new home. The repayment of the loan is deferred until the homeowner dies, sells, or moves out of the home (for more information see “Reverse” tab on upper right corner of website)

6. Down-Payment Assistance 2nd Mortgages.

We have a variety of State and federally chartered 2nd mortgage programs that, combined with standard FHA financing, can fund both the down-payment and loan closing costs for borrowers with little to no savings.

Refinance

MOST COMMON REASONS FOR REFINANCING YOUR HOME

  1. You have a fixed-rate mortgage with a high interest rate, and are looking to get a lower interest rate
  2. You have an adjustable rate mortgage (ARM) and are looking to get a fixed rate
  3. You have two mortgages and would like to consolidate them into one
  4. You have a long-term loan and would like a shorter-term loan so they can pay it off and build equity more quickly
  5. You have a short-term loan and would like a longer-term loan so as to reduce their monthly payments
  6. You want to move from an interest-only mortgage to a loan that pays down the principal
  7. You want some extra cash to make a purchase or to pay off other debt
  8. You wish to remove the mortgage insurance (FHA MIP) to lower monthly payments.

FOUR MAIN MORTGAGE REFINANCING OPTIONS THAT CAN MEET YOUR NEEDS:

Cash-Out Or Cash Back Refinance

This play allows you to refinance your mortgage for more than you currently owe. The difference between your existing loan balance and your home’s present value (equity) may be converted into cash for the homeowner.
Up to 80% of the present value of your home may be obtained through a conventional or FHA refinance loan.
Up to 90% of the present value of your home may be obtained through a V.A. refinance loan.

Lower Fixed-Rate Loan

If you currently have a high fixed-rate mortgage and the rates have dropped due to market conditions, you may want to refinance to a lower fixed-rate loan. Also, if you have an ARM, you might consider this option in order to get the security of a fixed rate. Even if your adjustable rate is low now, it is not guaranteed to remain that way; however if you refinance into a new lower fixed-rate term, you are locked into that new fixed interest rate for the life of the loan. This option is a good choice if you are not planning on moving within the next five years.

Shorter-Term Loan

If your main goal is to quickly build up equity and to pay off your mortgage sooner, then the shorter-term loan is probably your best choice. A lot of times, if you refinance to this type of loan, your monthly payments will be higher, but you will pay substantially less interest and your mortgage will be paid off sooner. Also, you would benefit from a larger tax deduction on interest if you move from a 30-year fixed to a 15-year fixed loan. There are some cases, however, in which you may be able to refinance to a shorter-term loan without raising your monthly payment -if you’ve had your current mortgage for enough years.

Longer-Term Loan

If your current monthly payments are higher than is comfortable for your financial situation, then you might want to consider refinancing to a longer-term loan. This will result in a decrease in your monthly payments, since you will have more time to repay the loan. Examining your current mortgage and knowing how you would like to improve it are the first steps you need to take when starting the refinancing process. Once you know this, you can choose the option that will best help you achieve your goals.

** By refinancing your existing loan, your total finance charges may be higher over the life of the loan. **