Tailored financing solutions for homeowners
Conventional (Fannie Mae/Freddie Mac) - for those with average to excellent credit and full documentation
FHA - for those with marginal to excellent credit and full documentation, does have mortgage insurance for just about all loan-to-values
VA - for our honored veterans and those in active duty; can have less-than-perfect credit to excellent credit; requires full documentation, allows for up to 100% loan-to-value (no money own) even on cash out refinance and never has monthly mortgage insurance!
USDA - for those with low to moderate income and property must be in approved “Rural” area, 96% of America qualifies as “Rural”; allows for 100% loan-to-value (no money down)
Non-QM - for those with hard-to-prove income that cannot supply full documentation the following income calculations/documents may be used to qualify: the DSCR calculation, bank statements (12 or 24 months), Accountant’s (CPA) P&L statement or 1099’s; allows for less-than-perfect credit in some cases up to excellent credit; non-warrantable condos, mixed-use properties, more than 4-units, unique properties, etc.; does require more down payment/equity than other products
Reverse or HECM - For our seniors with about 50% equity or more, this is a home loan that has made making a monthly payment optional! The usual principal and interest part of the total monthly housing obligation is optional; however, property taxes and homeowner’s insurance remain the responsibility of the homeowner.
The HECM can pay off an existing forward first mortgage and allow for a growing line of credit, lump sum payment, or guaranteed monthly payments for a fixed period or life. Let the old perceptions of the reverse mortgage product fade away—the HECM is government FHA-insured, so it’s safe!
We also have a proprietary product for non-FHA approved condos, making it even easier to find the right product. So, remember, it’s just like having any mortgage on your home, only payments are optional!