Mortgage Programs
Cash Out Programs
It is possible to leverage the equity you have in your home and take cash out by simply refinancing for more than you currently owe, then pocket the difference. We can show you how to do this through a cash out program that is also tax deductible. It is often possible to take cash out and still reduce your monthly payment through lower interest rates and interest only products. Many use the cash for a home improvement, investment property, medical expenses, enjoying retirement, or paying off debt. We have several aggressive cash-out programs available allowing you to take up to 125% of your home value with rates starting at 6.5%. Perfect credit is NOT required to lock into these programs.
Fixed Rate Mortgages
Our Fixed Rate Mortgage Refinance loans offer fixed rates that amortize over a period of 10, 15, 20, or 30 years. Rates are low and these products offer security for borrowers who plan to keep their home for over 10 years. We offer all Fannie Mae fixed rate products as well as from 30 other lenders. The Fannie Mae loans offer buy downs to get even lower interest rates and ultimately lower monthly payments. We have aggressive programs available to all borrowers regardless of credit history.
Adjustable Rate Mortgages
An Adjustable Rate Mortgage allows you to fix your mortgage for a specified period of time, usually 6 months, 1, 2, 3, 5, 7, or 10 years after which the interest rate can adjust. The lifetime cap is usually 5% or 6% over the start rate, so that if your start with a 4.125% interest rate, the lifetime cap is 9.125% or 10.125%. The annual cap is usually 2%, meaning that the maximum amount an interest rate can increase is 2% per year. When you are evaluating an adjustable rate mortgage versus a traditional fixed rate product, it is important to figure out the amount of time that you plan on being in the home, or in the loan to be more precise. We have aggressive programs available to all borrowers regardless of credit history.
Interest Only Loans
Interest Only Loan Programs allow you to pay only the interest portion of your mortgage, which often results in a mortgage payment 35% lower than your current payment at the same interest rate. Most lenders require the highest credit scores to offer a interest only loan, but we offer many interest only loan programs to borrowers with less than prefect credit. Often the interest rate for an interest only loan is the same as a regular mortgage, and you can reduce your monthly mortgage payment up to 35%. Take Cash Out or simply reduce your monthly payments
Stated Income Loans
No Doc Refinance Loans / Stated Income Mortgage Loans are the most commonly used and least expensive product in the reduced or no documentation suite of programs. These loans are often the perfect choice if you have verifiable employment (self employment is fine) and assets but your verifiable income is just a little low for what you want to do. They are available for Single Family, Townhouse, some manufactured housing, and low rise condos. Some programs allow high rise condos 2-4 unit buildings, second homes, or investment properties but are slightly more expensive or require more equity. Allowable uses are for purchase or rate and term refinance. The no doc loans will allow a "cash out" refinance with the same ultra low interest rate.
Eliminate Liens on Title
You can leverage the equity that you have earned thru appreciation to pay off any liens on title through a low rate refinance. This can be done with all types of loans 30 year fixed, 1yr, 3yr, etc. regardless of your credit score. You may be able to reduce monthly payments and pay off those liens that have been on title for years.
Non-FICO Based Loans
A No Documentation loan requires no employment, income, or assets to be stated on your loan application. We do not verify any information beyond your credit profile and the value of the property. This is the product of choice if your asset or income is difficult to verify or if you simply do not want the "hassle" of traditional mortgage documentation. Most of our loan programs offer a no documentation option.
Our Non-FICO based program options allow us to approve your loan without pulling your score. The loan rates and loan amounts are determined primarily by your mortgage payment history. So, if you have a strong positive payment history of your mortgage, but have missed payments or been in bankruptcy, you can obtain a mortgage with an interest rate better than if the underwriter is using only your FICO score. Low Loan to Value Rations are often required for eligibility for these programs.
Debt Consolidation Loans
Overdue bills coming in every day of the month? Feel like you are paying and paying with no end in sight? A debt consolidation loan can lessen the stress. Save big by getting the money you need to pay off all those bills and their high interest charges. Debt Consolidation Loan Features Include: No initial credit check, The predictability of one fixed monthly payment, Quote in under 1 hour, Rate Lock- if you choose, Bad Credit or Past Bankruptcy Accepted.
Credit Repair
Many borrowers with less than perfect credit can take advantage of refinancing into a short term loans to improve their credit. They do this by consolidating many different debts into one loan with a much lower, tax deductible interest rate that yields a far lower monthly payment.
By making this one low payment in a timely manner each month, borrowers can increase their credit scores dramatically. Some borrowers see scores increase by as much as 100-200 points and their lives are easier by making only one payment each month. A debt consolidation loan can put you on the path to becoming an "A-paper", excellent credit borrower where you will qualify for loans with lowest rates and the most cash out.
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