LOAN PRODUCTS

RESIDENTIAL LOAN    Special Program
loan products
  • - No Income, no Asset, No job, No credit or bad crdit 
    - No down payment (100% loan) 
    - Up to 103% loan(3% cna be used for closing cost) 
    - Work permit only or Foreigners 
    - No Social Security Number 
    - Tax I.D. only(ITIN) 
    - Money saving option : Min. payment only (MTA, COSI, COFI, COMA) 
      Example : $400,000 loan starts with $1,288 monthly. 
PROGRAMSMoney Saving Options
    Conventional (Fannie Mae and Freddie Mac)
  • -100%, 97%, 95%, full doc 
    -103%, 107% full doc (including closing cost) 
    - 80/10/10, 80/15/5, 80/10 
    - 90% conforming loan amount at full doc rate : stated income and stated asset
      (680 or above credit score) 
    - Investment property - 100% stated income 
      Govemment Loan - FHA
    • - Min down payment 2.25% 
      - Max.loan amount - varies by county 
      - Slow and no credit, no rental history 
      - Up to 6% seller contribution 
      - All funds can come from gift 
      - No reserve required 
      - Full document only (purchase, refinance with cash-out) 
      - Streamline refinance (no income, no appraisal, no asset, no cash-out) 
        Govemment Loan - VA
      • - No down payment 
        - Max. loan amount up to 100% of conforming loan limit. 
        - Eligibility Certificate 
        - All funds can come from gift 
        - No reserve required 
        - Full document only(purchase, refinance with cash-out) 
        - Streamline refinance (no income, no appraisal, no asset, no cash-out) 
          2nd Mortgage Loan
        • - Open ended loan (HELOC) 
          - Closed ended loan (HELON) 
          - Debt consolidation / cash-out for any purchase 
          - No closing cost option 
          - Stated income, no ratio, no doc, retired 
          - Up to 130% CLTV 
          - Stated value option 
            Commercial Loan
          • - All commercial real estate properties (office condo, mix-used, shopping center, Apartment,
              warehouse, gas station, restaurant, church, etc) 
            - 80% - 70% LTV : stated income and stated asset 
            - No source of funds (no seasoning) 
            - 90% full doc (stated possible) 
            - 5/25 ARM or 15, 20, 30 years fixed rate
              Reverse Mortgage
            • - To be eligible, must be aged 62 or over, live in the home as 
              primary residence. Current incomes
              and amount of bank balance do not
              influence the ability.
              
                A few of advantages are
              - No repayment as long as you live
              in your home.
              - Receive Tax Free Funds to use 
              however you choose.
              - Stay in your home with your ownership retained.
              - Freedom & Flexibility. can use
              the money in any way you choose.
              - Fees & costs can be charged on the loan. No or less cash out of pocket.
                Other loans
              • - SBA (small business
                adminstration)
                - Construction loan
                - Lot loan
                - Personal loan
                - Business loan
                ** each loan product has its own
                requirements, and underwriting 
                guilines.