Loan Programs

Ok  Mortgage Interest Rates are now on their way down…what to do now
TAB   Term Refinance: Lower your AMOUNT OF YEARS you will choose to pay loan faster, there is other ways and suggestions I have. With my over 22 years as a mortgage advisor, ask me how interest rate or change your loan term to reduce monthly payments.
——————————————————————————————————————–
TAB FHA Streamline, If you bought in the past couple years your interest rate is probably about 7% so now we can lower your interest, keep it as an FHA loan and do an FHA Streamline, as long as you made 6 on time payments where most of your closing costs will be covered by the lender. No appraisal, no inspection, no income verification, only a soft pull on your credit.
Documents Needed
·       Latest Mortgage Statement
·       Payoff
·       Driver’s license (residency or work permit)
·       Mortgage “Note” from when you purchased (in documents you got at closing)
·       Final CD from when You purchased (in documents you got at closing)
·       Home Owners Insurance and/or agent name and number
·       2 Utility bills with your name on it
 
————————————————————————————————————-
TAB    FHA to Conventional.  Same as Conventional to Conventional  Advantage if you have at least 20% of equity already in the property when you refinance we can get rid of the Mortgage Insurance  and also lower your interest rate so your payment  will be lower  For this loan closing costs are at borrowers expense (no money from pocket this costs will be added to your loan amount) IN THIS TYPE OF LAON YOU CAN ALSO CASH OUT  buts lets pay attention to the LTV Loan To Value to calculate Mortgage Insurance properly But qualification is Full doc and appraisal is required
—————————————————————————————————————
TAB     HARD MONEY TO DSCR A lot of investors have chosen the hard money side, but depending on LTV we can do it as an Investor DSCR (Debt Service Coverage Ratio) where as long as the rent of the property covers the mortgage you are Good Limited Income docs needed
———————————————————————————————————–
TAB    HELOCs Now if you are one of the lucky ones and have your interest rate low and don’t want to refinance, I offer you A HELOC (Home Equity Line of Credit) as another option to use the existing Equity built on your asset, Very easy and quick process 5 DAYS