Asset based Underwriting Decisions-Accelerator

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

See all in: Loan Programs

Call Brett Dalbeth
for Showings or more information
888-399-4844

Disclaimer

If a listing displays "Short Sale/Subject to Lender Approval" then that listing has been identified by the seller and the listing broker as a "short sale". This means that, at the listed price, the proceeds from the sale may not be adequate to pay all liens and costs of sale. Any offer made that does not fully cover the existing amount(s) owed to the lienholder(s) plus the costs of sale could be subject to lienholder approval, which approval may be exercised at the sole and exclusive discretion of the lienholder(s). The information being provided by SoCalMLS, CRISNet Regional MLS and/or CARETS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the SoCalMLS, CRISNet Regional MLS and/or CARETS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by SoCalMLS, CRISNet Regional MLS and/or CARETS and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright SoCalMLS®, CRISNet Regional MLS®, CARETS®

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