|
|
The following features are designed for both conventional and jumbo loans:
- Conventional loan --- Loan amount is less than $417,000.0
- Jumbo loan --- Loan amount is greater than $417,000.0
- 30 years, 20 years, 15 years or 40 year-fixed/30 year balloon payment
- 7 years, 5 years, 3 years
- No down payment for owner occupied (O/O) property
- 20% down payment for non-owner occupied (N/O) property
- Full or Stated Income document
- Bankruptcy --- OK
- Mortgage delinquency --- OK
- Bad credit --- OK
- 50% Debt-to-Income ratio
- Bank statement in lieu of W-2 or 2 year tax return
The following features are designed for both conventional and jumbo loans:
- Conventional loan --- Loan amount is less than $417,000.0
- Jumbo loan --- Loan amount is greater than $417,000.0
- 30 years, 20 years, 15 years or 1.25% interest only
- No down payment for owner occupied (O/O) property
- 20% down payment for non-owner occupied (N/O) property
- Full or Stated Income document
- Bankruptcy --- OK
- Mortgage delinquency --- OK
- Bad credit --- OK
- 50% Debt-to-Income ratio
- Bank statement in lieu of W-2 or 2 year tax return
The following features are designed for both conventional and jumbo loans:
- Conventional loan --- Loan amount is less than $417,000.0
- Jumbo loan --- Loan amount is greater than $417,000.0
- 30 year-fixed, 20 year-fixed, 15 year-fixed or 40 year-fixed/30 year balloon payment
- 7 year-fixed, 5 year-fixed, 3 year-fixed
- Debt Consolidation (Combined two loans into one loan)
- Full or Stated income document
- Bankruptcy --- OK
- Mortgage delinquency --- OK
- 50% Debt-to-Income ratio
- Bank statement in lieu of W-2 or 2 year tax return
- Cash-out up to 100% of appraisal value
The following features are designed for second mortgage or line equity of credit (HELOC):
- A multi-purpose revolving line of credit up to $1 million with the flexibility to convert all or a portion of the line balance to a fixed-rate term of 5-30 years
- No cost or low cost program
- Minimum FICO score (Credit score) of 620
- Fixed rate or Adjustable rate (starting at or below prime rate depends on the FICO score)
|
