Asset based Underwriting Decisions-Accelerator
- Great for self employed and retirees
75% LTV up to $1.5 Million
65% LTV up to $2.5 Million-740 fico score requirement
Primary Residences Only
45% Max DTI
700 Minimum Fico Score Requirement
Liquifiable assets divided by 120 months and can be added back into qualifying ratio as income
Example: $500k assets divided by 120 months adds $4,166 to gross adjusted income on 1040
30 year loan- first 10 years are Interest Only, remaining 20 years fully amortized
Max 10 properties owned
4 Open tradelines required
95% Conventional purchase
- 95% Financing now available
SFR only-No Condos
Debt ratio to 41%
680 Mid fico score requirement
Purchase only-FTHB
2-4 Months reserve requirement
2% Gift funds allowed
90 day seasoning requirement
Government Loans
- We are FHA approved!!
90 day flip rule temporarily removed
Fico scores lower than 620 ok!
99.5% Financing available case by case
VA financing avilable up to 102%
Agency Conforming-10% down
- Condos Ok
- Purchase, rate/term, cash out
- Debt ratio to 45%
- Rates starting at 4.875%
Jumbo Loans to $2 Million
- 1-2 units to $2million at 80% LTV; purchase and rate/term only
3-4 Units to $1.5million at 80% LTV; purchase and rate/term only
35% DTI for max LTV allowance.. up to 45% DTI on lower LTVs
Cash out refinance: 1-2 units at 80% max LTV to $1.5 million, 3-4 unit to 70% max LTV
6-12 Months reserve requirement
Gift funds are allowable
Permanent and Non Permanent resident aliens allowed with valid social security number
LTV reductions may apply depending on market area- email property zip code for verification
Bank owned or short sale property?? No Problem!!
Low doc/income inflation program
- Wage earners only- No self employed
120% of actual income used in qualifying ratio
Loan amounts to $625k
80% LTV with 700 minimum fico score
Quick loan approvals
Gift funds ok
No doc/Voe only program
- Wage earners only
Loan amounts to $729k
Employer completes VOE
Owner occ, 2nd home and investment properties
LTV to 80%
620 minimum fico score
Gift funds ok
No family owned businesses
-We are an FHA Approved, full service RETAIL mortgage broker!!
Call Eddie Stokes for Details!!
714-681-8209
STOKESEDDIE@GMAIL.COM
DRE#01773954
CALIFORNIA MORTGAGE GROUP
