2ND TIME HOME BUYER LOANS

You will be surprised to see the great options you could still qualify for being a 2nd time buyer or more!

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CONVENTIONAL 3% DOWN (Home Possible Advantage)

A Great option for home buyers looking to purchase with a low down payment option.

  • Up to 97% LTV/Loan To Value

  • Available for 1st time home buyers, borrowers changing their primary residence, and retirees

  • Refinance up to 97% LTV, regardless of current mortgage program

  • No income cap limits for Under-served Areas

  • No reserve requirements for 1-unit properties

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PLATINUM DOWN PAYMENT ASSISTANCE GRANT ($0 DOWN)

FORGIVABLE down payment assistance of up to 5% of your loan amount to cover your down payment and/or closing costs.

  • Available throughout California

  • Is forgiven after 3 years as long as you do not refinance or sell your home within that time frame

  • Grant sized up to 5% of the loan amount

  • Program is NOT limited to 1st-time home buyers

  • Available with various mortgage loans such as FHA, Conventional, VA, & USDA and

  • NOW available with eligible refinances.

CalHFA DOWN PAYMENT ASSISTANCE LOANS

Receive Up To A Combined Amount Of 7.5% of Your Purchase Price In Down Payment assistance To Cover Your Down Payment and/or Closing Costs.

  • Available throughout California!

  • Receive up to 7.5% of your purchase price to use towards your down payment/closing costs.

  • 2nd or 3rd loan with deferred payments and low/no interest

  • Program not limited to first time home buyers

  • Available with various mortgage loans like FHA & Conventional

VA 0% DOWN

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  • No upfront or monthly mortgage insurance fee or premium

  • No down payment necessary!

  • Flexible requirements and underwriting guidelines

  • Not limited to 1st time home buyers

FHA w/ MINIMUM FICO of 500

One of our Low Down Payment Options For Borrower's With A Low fico/credit score

  • Min. Fico/Credit score 500+

  • Low down payment option

  • Wholesale rates available

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FHA 3.5% DOWN

Low down payment option for 1st time home buyers and buyers changing their primary residence

  • Min. Fico/Credit Score 580+

  • Wholesale rates available

  • Low down payment option of 3.5% down

  • Not limited to first time home buyers

  • Flexible underwriting guidelines

  • 100% gift funds for down payment ok

  • Can be used in combination with down payment assistance programs

 

BANK STATEMENTS ONLY LOAN (NO TAX RETURNS REQU.)

A great option for borrowers that have an issue showing income on their tax returns. Great for self employed buyers!

  • No payment shock

  • Loan amount $100K to $3M

  • Maximum cash out $2M

  • W-2 co-borrower is allowed with income and employment traditionally verified

  • Personal or business statements

  • Debt-To-Income ratio up to 50%

  • Statements for the most recent 12 month period required

  • Retirement income is usable with verification (1099, award letter, etc.)

  • 15 & 30 year fixed, 5/1, 7/1, 10/1 ARM. Interest only available on ARMs**

  • No ownership seasoning requirement for cash-out refinance

  • Cash out from subject may be used towards reserves

  • Gift Funds and Gift of Equity allowed (refer to guidelines)

ASSET QUALIFICATION LOAN

Perfect for high net worth buyers that hold various asset classes

  • Employment and Income are not required to be disclosed on your loan application

  • Loan amounts of $100K to $3M

  • Maximum cash out refinance up to $2M

  • Loan qualification based on verified liquid assets

  • 15 & 30 year fixed, 5/1, 7/1, 10/1 ARM Interest Only available on ARMs**

  • Debt-To-Income ratio not calculated

  • Payment shock not calculated

  • Assets can be cash in the bank, stocks, bonds, IRAs, 401Ks, mutual funds or retirement accounts

  • Asset levels in the verified accounts are expected to be consistent and sustained

  • No ownership seasoning requirement for cash out refinance

  • Gift Funds & Gift of Equity allowed (refer to guidelines)

& MUCH MORE AVAILABLE!

The information provided in this presentation and any printed material is for informational purposes only. Additional resources that may be referenced in the following presentation or materials are offered merely as a convenience to participants with no guarantees made as to the applicability or validity of the third-party content. We do not take any responsibility for nor do we warrant the content, accuracy or timeliness of referenced websites, articles, books, events, etc.