Take a look at the different loan programs we offer and the requirements needed to qualify. Every scenario is different and program requirements may change, best way to know if you qualify is to call or meet with a loan officer. If you do not qualify at that moment we will come up with a plan to see where you need to improve and guide you accordingly.
An FHA loan is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA). Designed for low-to-moderate income borrowers, FHA loans require a lower minimum down payments and credit scores than many conventional loans.
Loan Requirements:
- Credit Scores 580 or above qualify for 3.5% Down Payment
- Credit Scores between 550 & 579 require a higher down payment
- DTI (Debt to Income) 56.9%
- Home must be primary residence
A conventional loan is any type of home buyer’s loan that is not offered or secured by a government entity, such as the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA) or the USDA Rural Housing Service, but instead is available through or guaranteed by a private lender (banks, credit unions, mortgage companies) or the two government-sponsored enterprises, the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).
Loan Requirements:
- Credit Scores 620 or above
- DTI (Debt to Income) 50%
- PMI (Private Mortgage Insurance) can be removed at 80% LTV (Loan to Value)
- Down payment as little as 3%
- Can be primary, second home, vacation or rental property
The VA loan is a $0 down mortgage option available to Veterans, Service Members and select military spouses. VA loans are issued by private lenders, such as a mortgage company or bank, and guaranteed by the U.S. Department of Veterans Affairs (VA).
Want to refinance or purchase a home, but don't show enough income? Our unique loan program lets you purchase up to 90% without looking at pay stubs or w-2/tax returns. Lender looks at last 2 bank statements to see deposit from business. Great for self employed individuals who have a lot of deductions for their business.
Loan Requirements:
- Credit Scores above 640
- No Paystubs
- No W-2’s or Tax Returns
- Single Family, Condominium or Multi-Unit Allowed
- Last 2 months of bank statements where funds from business were deposited
Flexperm is a unique investment property program. It allows you to purchase an investment property or refinance to cash out. Qualification requirement is based on property value not personal income. Can be used to purchase single family residence, condo, multi-unit 1-4, multifamily 5+, office, retail or warehouse. Loan amount up to 5 million.
Loan Requirements:
- Credit Score as low as 650
- No Paystub, W-2’s or Tax Returns
- All Down Payment can be gifted
A 7/1 ARM is an adjustable-rate mortgage that carries a fixed interest rate for the first seven years of its term, along with fixed principal and interest payments. A 7/1 ARM might be attractive to borrowers over a fixed-rate mortgage because they'll pay lower interest in the initial period.
- Copy of Driver License or ID
- Last 2 years of w-2’s & Tax returns
- 2 Most Recent Bank Statements
- Most Recent Pay Stub(s) Equal to 30 Days Earning