LOAN PROGRAMS

We have several loan programs: FHA, VA, conventional, bankruptcy programs, no income qualified, commercial, credit challenges, “zero down” programs, self-employed program, or investment property. We invite you to read details follow on:

BANKRUPTCY:

If you have filed one of the following:
a) Chapter 13 and there has been 12 months payments history with trustee. You may qualify for 3% down.
b) Chapter 7 and there has been 1 day from the discharged date. You may qualify for 0-5% down based on credit rating.
c) Consumer Credit Counseling, we have programs from 0% - 5% down payment based on credit qualification.

COMMERCIAL/APARTMENT/HOTEL:

The program normally may require 20% to 30% down. With the right incentive, you’ll be able to negotiate for a lower down payment.

MORTGAGE LOAN PROGRAMS:

CONVENTIONAL:

A mortgage loan made by an institutional lender without government guarantees such as VA OR FHA loans. Generally, these loans allow standard FREDDIE MAC OR FANNIE MAE guidelines.Conventional Community Home Buyer’s program is for the first time home buyers which requires a 3% down of the borrower’s own funds plus 2 months reserve (PITI). However, a 5% down may require for non-first time home buyers plus 2 months reserve (PITI). The seller is allowed to contribute up to 3% toward closing costs.

FHA:

The federal Housing Administration established in 1934 through the National Housing act to foster home ownership by providing insurance protection to private lenders who provide mortgage financing to homeowners. A 3% down is required can be gifted from family members. The seller allows to contribute all of the closing costs.

VA:

Veterans Administration, this loan program is for veteran who is still active in military or non-active in military. VA loan DOES NOT required for any down payment.

CREDIT CHALLENGES:

Serious derogatory credit due to late payments, collections, judgments, etc. We have several non-conforming programs for you with as little as 0% to 5% down based on your qualification.

HIGH DEBT RATIO:

Too much debts!! That’s O.K. This loan is for anyone who had extensive of debts, or is self-employed ,or some one who do not wish to demonstrate their income on their mortgage loan application causing them unable to qualify a regular loan program. We can place you on No Income Qualified program or Stated Income programs, which we DO NOT require proof of W-2’s, tax returns or pay stubs. This loan may require a minimum of 0%-5% down based on your credit qualification.

INVESTMENT PROPERTY:

We provide loan for investment property that may require 0% to 20% down base on credit qualification and other criteria.

NO JOB, NO INCOME:

This program may require a minimum of 5% down based on your credit qualification. Down payment can be gifted fund or come from anywhere. The seller allows to contribute up to 3% closing costs.

SELF-EMPLOYED:

1 year self-employed is acceptable case by case. Can do stated income or 12 months bank statements

ZERO DOWN:

Several 100% financing programs available for both good and average credit profile.

BANKRUPTCY & FORECLOSURE:

It may require 0% to 5% down based on qualification.

MANUFACTURE HOME:

Call me case by case (very possible)

NON-PERMAMENT RESIDENT:

Green card do not require but need tax ID number, must have acceptable credit history, must filed taxes for the past 2 years and other normal requirements. Down payment 0% to 5% based on the rest of qualification.