ALL TYPE OF MORTGAGE LOANS
No matter your situation we can help you!

FHA

  • Income W2: 2 years employment history w/paystubs
  • Income Self-Employed: 2 Years of Tax-returns
  • Income Retirement, Social Security, Pension.
  • Down Payment 3.5% (score 580+)
  • Down Payment 10% (score 550 to 579)
  • Collection do not matter
  • Student Loans OK
  • Gift money OK (family member)
  • Make FHA mortgage insurance mandatory regardless of the down payment amount, and it can’t be canceled unless you refinance into a conventional loan.

Buy your home – STOP RENTING!

$200,000 you need $7,000
$250,000 you need $8,750
$300,000 you need $10,500
$350,000 you need $12,250
$400,000 you need $14,000
$450,000 you need $15,750

One of our real estate partners, will negotiate with the seller to help you pay the closing cost!

Thinking on keep renting?
Renting a $2,000 home, landlords ask for 1st month + last month + security deposit = $6,000 wasted!

Conventional

  • Income: 2 years employment history
  • Down Payment 5% (score 620+)
  • Collection may require to be paid
  • Student Loans OK
  • Allow higher credit scores.
  • Slightly down payments.
  • Have easier property standards.
  • Require private mortgage insurance when the down payment is less than 20%, and the insurance may be canceled.

JUMBO

A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac — currently $647,200 for a single-family home in all states (except Hawaii and Alaska).

  • 10% Down Payment
  • W2 and Self-Employed
  • Fixed and adjustable rates available
  • Minimum credit score 660
  • Interest Only Program available
  • 3 months reserves

VA

  • Income: 2 years employment history
  • Credit Score 580+
  • Down Payment 0%
  • Collection may require to be paid
  • Student Loans OK
  • Allow low credit scores.
  • No down payments only closing cost
  • Have easier property standards.
  • No Mortgage Insurance

Self-Employed

  • Income: 12 Months of Bank Statements
  • Down Payment 10%  (Score 740+ | 6 Months reserves)
  • Down Payment 20% (Score 680+ | 3 Months reserves)
  • Down Payment 20% (Score 660+ | 6 Months reserves)
  • Down Payment 25% (Score 620+ | 3 Months reserves)
  • ITIN Down Payment 20% (Score 680+ | 3 Months reserves)
  • Collection doesn’t need to be pay
  • Qualifying Residual Income $1,500 and DTI 50%
  • Income: 12 Months Profit & Loss
  • Down Payment 20% (Score 700+ | 3 Months reserves)
  • No Mortgage Insurance required.

A Bank Statement Loan may be the solution for self-employed borrowers

When you’re self-employed, you don’t have the luxury of being able to provide pay stubs or show net income on tax returns when you’re trying to secure a mortgage loan. Not having these required documents can make getting approved difficult, even if you have good credit.

Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs. We look at your income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan with a competitive rate.

No Income

  • No need to show employment or income
  • 700+ score requires 20% down (purchase, refi term)
  • 680-699 score requires 25% (purchase, refi term)
  • 660-679 scores requires 30% (purchase, refi term)
  • 640-659 scores requires 35% (purchase, refi term)
  • 720+ score up to 75% (cash-out refi)
  • 660-719 score up to 70% (cash-out refi)
  • 640-659 score up to 60% (cash-out refi)
  • 12 months reserves required (refi can use cash-out as reserves)
  • No Mortgage insurance required
  • SFR, PUD, Townhome, Condominium (Condos in Florida require a Full Cond Review), 2‐4 Unit, Modular, Rural
    and Log Homes.
  • US Citizen, Permanent Resident Alien, Non‐Permanent Resident Alien (With US Credit and acceptable VISA).
  • Two (2) tradelines reporting for 12+ months or one (1) tradeline reporting for 24+ months, all with activity in the last 90 days. *First Time Home Buyers are allowed to apply a 12‐month recent and satisfactory VOR towards the tradeline requirement.
  • Sellers concessions up to 6%
  • Gift Money OK (family member).
  • Program Code: Ally-Champ

Fix & Flip

  • We don’t ask to show income
  • No employment required
  • Down Payment 20%-25%
  • Minimum credit score 660
  • 1 Year – Interest Only
  • 1 Year Balloon
  • Must close under LLC company

RENTALS - DSCR

NO INCOME REQUIRED

DSCR (debt service coverage ratio) loans are evaluated based on the property’s rental income, not the applicant’s personal income.

So your portfolio’s growth isn’t constrained by your personal income, and there’s no limit to the number of properties you can own.

Approval is faster and easier, too, because there’s no painful personal income verification.

Simple, if you have 700 as a medium score and 25% down + closing cost + the appraisal values the property as the purchase price…then is all good!

  • 0 DSCR Down Payment 25% (Score 700)
  • 1 DSCR Down Payment 20% (Score 700)

Income

  • No tax returns required
  • No employment required

 

Reserves

 
  • 2 Months Reserves ONLY – Loans to $1,500,000
  • USE 100% Cash-Out for Reserves
  • NO Additional Reserves for Other Financed Properties 
   

Property Types

 
  • Condotel, Modular, Non-Warrantable Condos
  • Multi-Residential: 5-8 Units
  • Mixed Use: 2-8 Units with up to THREE Commercial Units 
  • Commercial Unit Occupied by Borrower’s Own Business – OK
  • NO Limits on # of properties financed through ACC
    (Max of $5 Million aggregate)
   
   

Calculating DSCR

To calculate DSCR, take the monthly rental income and divide it by the monthly expenses. Monthly expenses typically include the principal, interest, taxes, insurance, and – if applicable – the homeowner’s association fees that are owed on the property each month; these expenses are commonly referred to as PITIA.

For example: let’s say that you buy a rental property, expecting to be able to charge $1,500/month for rent, with the PITIA on the property coming out to be $1,500/month. Here you would divide the monthly rental income by the PITIA expenses to get a DSCR of 1.0.

Grow your portfolio without using your personal income!

 

 Credit

 
  • NO Minimum Tradelines with 3 Credit Scores 
  • NOT Required to Pay-Off Charge-Offs and Collections
  • NO Housing History Required on REO’s NOT Reported on Credit
  • Housing History: 1x30x12 allowed OR  12x30x12 with reduced LTV
  • BK & Foreclosure: 24 Months Seasoning with reduced LTV
 

 Assets

 
  • NO Sourcing on Large Deposits
  • Assets Sourced for ONLY 30 days
  • Gift Funds OK with 10% of Borrower’s Own Funds
  • Short-Term Income OK up to 125% of 1007 Survey 

DACA / DREAMERS

  • Income W2: 2 years employment history w/paystubs
  • Income Self-Employed: 2 Years of Tax-returns
  • Valid work permit
  • Down Payment 3.5% (score 580+)
  • Down Payment 10% (score 550 to 579)
  • Collection do not matter
  • Student Loans OK
  • Allow lower credit scores.
  • Make FHA mortgage insurance mandatory regardless of the down payment amount, and it can’t be canceled unless you refinance into a conventional loan.

Buy your home – STOP RENTING!

$200,000 you need $7,000
$250,000 you need $8,750
$300,000 you need $10,500
$350,000 you need $12,250
$400,000 you need $14,000
$450,000 you need $15,750

We will negotiate with the seller to help you pay the closing cost!

Thinking on keep renting?
Renting a $2,000 home, landlords ask for 1st month + last month + security deposit = $6,000 wasted!

ITIN

  • Income: W2 with Paystubs
  • 2 Years employment information
  • Down Payment 20% (Score 660+ | 3 Months reserves)
  • Collection doesn’t need to be pay
  • 50% DTI
  • Income: Self-Employed with Tax Returns
  • 2 Years employment information
  • Down Payment 20% (Score 680+ | 3 Months reserves)
  • Collection doesn’t need to be pay
  • 50% DTI
  • Income: 12 Months of Bank Statements
  • Down Payment 20% (Score 680+ | 3 Months reserves)
  • Collection doesn’t need to be pay
  • 50% DTI
  • Income: 12 Months Profit & Loss
  • Down Payment 20% (Score 660+)
  • No Mortgage Insurance required.
  • 50% DTI

A Bank Statement Loan may be the solution for self-employed borrowers

When you’re self-employed, you don’t have the luxury of being able to provide pay stubs or show net income on tax returns when you’re trying to secure a mortgage loan. Not having these required documents can make getting approved difficult, even if you have good credit.

Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs. We look at your income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan with a competitive rate.

HomeStyle® Renovation

The HomeStyle® Renovation loan program provides for a wide range of allowable improvements. Fannie Mae does not place limits on the type of project that is eligible under the HomeStyle loan, but does require that the improvement will be permanently affixed to the property or dwelling.

Examples of these allowable improvements are:

Structural alterations and additions (except in the case of manufactured homes, where no structural changes are allowed)
Upgrade or modernization of central air/heat, plumbing, and electrical systems
Installation, repair, or replacement of well and septic systems
Repair termite or moisture damage
Remodeling of kitchen and baths
Energy conservation improvements
New permanently affixed appliances
Additions or replacement of exterior decks, patios, and porches
Major landscaping and permanent hardscape such as driveways, walkways, retaining walls, and fences

The following improvements are not allowed:

Improvements that are not permanently attached to the property
Improvements for business or commercial purposes

Allowed improvements and renovations should be permanently affixed to the property. Fannie Mae does not require that the improvement add value to the property per Fannie Mae Selling Guide Announcement SEL-2018-02.

CONDOS

 
  • Income W2: 2 years employment history w/paystubs
  • Income Self-Employed: 2 Years of Tax-returns
  • Income Retirement, Social Security, Pension.
  • Down Payment 3.5% (score 620+)
  • Requires FHA approval – closing takes 45-60 days

              Low Down Payment!

                              $100,000 you need $3,500
                              $150,000 you need $5,250
                              $200,000 you need $7,000
                              $250,000 you need $8,750
MORTGAGE LOAN MADE EASY

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