Loan Options
“ A good decision is based on knowledge and not numbers” ~Plato
Conventional
- 3% minimum down payment
- 620 minimum credit score
- 50% maximum debt ratio
- Private mtg insurance required if less than 20% down payment
FHA
- 3.5% Min Down Payment
- 620 Min Credit Score
- Debt ratio above 50% allowed
- 1.75% funding fee required
- Mtg ins required regardless of down payment percentage
VA
- Up to 100% financing with no Mtg Ins
- 620 minimum credit score
- A debt ratio above 50% allowed.
- Qualified Active-duty military, Retired service members and widows/widowers of qualified Veteran are eligible
USDA
- Up to 100% financing with no Mtg Ins
- 640 Min credit score
- Debt ratios cannot exceed 32/45
- Maximum household income and qualified property location, apply.
- 1% funding fee required
- annual fee repaid in 1/12 installments Included in mtg payment.
JUMBO
- Loans Exceeding $766,550
- Typically, no mortgage ins
- Max loan to value 85%-90%
- Min 680 Credit Score
SPECIALTY LOAN OPTIONS
- DSCR loans-Applicant qualifies for this investment loan based on the projected cash flow of the subject property. No employment or income required.
- Foreign National and ITIN loans for Non-Traditional US Immigration status holders.
- 12-24mth Bank Deposit used as income in lieu of tax returns for Self Employed Borrowers
- One-time and Two time Construction loans
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