Residential Mortgages
Property Types: 1 – 4 units, Condos, PUDs and Manufactured Homes.
The usage of the property: Primary home, Second home/Vacation home, Investment/Income property
Conventional products: Fixed rate and Adjustable rate
- Minimum as low as 3%
- Conforming loan amount $647,200
- High balance conforming loan amount $970,800 (depending on the county)
- Jumbo loan products
- HomePath (Fannie Mae REO properties),
- NO MI
- NO appraisal
- NO HOA certification for condos
- Minimum FICO score 660
- HARP (Home Affordable Refinance Program)
- To refinance the current loan that is owned by Freddie Mac or Fannie Mae on or before May 31, 2009
- The loan-to-value ratio is greater than 80%
- The borrower must be current on the mortgage with a good payment history in the past 12 months.
- Minimum credit score 620
Government programs:
- FHA
- Minimum credit score 550
- Minimum down payment 3.5% for purchase
- Flips under 90% is ok
- Up-Front MI can be financed or paid in cash
- Gift for down payment is ok
- VA
- 100% financing available
- Minimum credit score 600
- USDA
Down payment assistance programs and other specialty programs
- MyCommunityMortgage program
- California Homebuyer’s Downpayment Assistance Program (CHDAP)
- Portfolio products
- Foreign Investor transaction, live and work in another country ok
- Unique properties
- No credit score
- Using asset to calculate income (for investment savvy borrowers)
- Asset Pledge program (without liquidating your assets)
Manufactured Housing
- Minimum 5% down for conventional
- Double-wide (or wider) and minimum square fee of 700
- FHA & VA financing available
Reverse Mortgage
