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Loans Tailored to Fit Your Needs!!!!
*No Income/No Asset Verification Mortgages
Many self-employed, retired and sales people earn substantial incomes, however are not able to provide the required documents to substantiate their incomes. Providing a no income/ no asset verification mortgage loan allows them to purchase or refinance their current mortgage. Some mortgage programs are available with as little as 5% down (good credit is required). We have numerous mortgage Lenders for these programs. This is a perfect mortgage program for beauty operators, restaurant employees or any other self-employed person.
*Jumbo Mortgages
Jumbo mortgage loans are mortgage loans with amounts exceeding $247,000.00. Because of the risk factor on these loans, pricing is very competitive. Searching mortgage lenders throughout the United States, we are able to locate the best mortgage rates and terms for our clients. We have available many no income/ no asset programs for Jumbo mortgage loans.
*Credit
Most mortgage lenders require us to retrieve credit reports from the various credit bureaus. The clients' ability to repay debts is a big factor in determining the mortgage interest rate available to him. The less risk that the mortgage payments will be made on time, the better the mortgage interest rate. Credit Bureaus score each applicant and these scores are crucial in determining the mortgage program available to each applicant. Many times, by paying off some delinquent debt, scores can be improved, therefore enabling a client to receive a better mortgage interest rate. We attempt to help our clients with their credit and suggest that once a year they request their credit reports from the Credit Bureaus to ensure that no errors are reported. However, their are some clients who have "blemished credit" and are unable to pay off the existing debts. We are able to find our clients mortgage programs that will make it possible to purchase their dream home. For those clients that have "no credit" we are able to establish non-traditional types of credit for credit evaluation, i.e., letters from the phone and electric companies stating the client is in good standing. Many of these mortgage loans require small down payments.
*Foreign Nationals Mortgage Programs
We have some excellent mortgage programs for Foreign Nationals. Required down payment is 25%, but nothing else is required. Money can be wired into the closing agent's account the day of closing. It is a no hassle mortgage loan, making mortgage financing readily available to our Foreign clients.
*Bankruptcy and Foreclosures Mortgage Programs
For the clients who have had bankruptcies or mortgage foreclosures, we offer a multitude of mortgage financing options. Various mortgage programs have been devised to help them obtain mortgage financing without waiting the traditional two to four years. Most of these mortgage programs are available for a two to five year period,(30 year amortization) giving the client an opportunity to re-establish their credit standing and being able to refinance their mortgage to Conventional mortgage rates after that period of time.
*100% Financing Mortgage Program
This a mortgage loan program for many clients who
don't have the necessary down payment, or where the
Seller will hold a second mortgage, or a "piggy back
loan" which is a 1st mortgage followed by a 2nd mortgage
with a simultaneous closing. There many variations of
this mortgage loan and middle credit score of 600 is a
criteria for this type of program. Also available are
No-Income No-Asset 100% mortgage financing programs, but
credit scores need to be higher for this mortgage
program.
*Investor Mortgage Loans
Some mortgage loan programs are available with only 10% down payment (certain restrictions apply). (1-4 units), Cash out mortgage refinance programs up to 85% on newly acquired properties, without seasoning.
*Commercial Mortgage Loans
Above four units, fall into the category of Commercial Mortgage Lending. We have our own Commercial Mortgage Division.
Our staff is here to answer all of your questions regarding mortgage financing, so please feel free to call us at your convenience.
PH: (786) 235-0888
or E-Mail
donna@elitemortgage.net
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