 |  | Serving Hayward, Castro Valley, San Leandro, Union City
27182 Parkside Drive | Hayward CA, 94542 | |
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Mortgage Information and Loan Types What Documents Will I Have to Provide? Be prepared to provide verification of income, bank account numbers and details on your long-term debt. If you're self-employed you may also be required to provide financial statements for your business. It will save time if you have the following items available:
These loan programs are not necessarily for those with excellent credit but are for those who may not have the typical down payment of 5%, 10% or more. There are a number of different loan programs including the 3/1, 5/1, 7/1 ARMS and 15 and 30 year fixed. Call me to determine if it is possible to structure a transaction and avoid the higher LTV programs. It is also possible to finance an additional 3% for closing costs with certain restrictions (103% LTV).
These programs work well for those with income that is harder to evidence. Verification of income and assets (down payment) are not required. Information concerning income and employer(s) and banks and assets are not requested on the loan application. Email Us to discuss the best choice for you.
From shopping centers and churches to motels and industrial, I have sources. These transactions usually require the analysis of the past history (debt coverage ratio, vacancy, expenses, zoning, market rents, environmental, lease(s) information) of the property as well as the credit worthiness of the borrower.
From a recent Bankruptcy, foreclosure or deed in lieu of foreclosure to numerous lates, collections, judgments, liens, etc. I have sources. The lending industry is moving more and more to credit scoring. I have sources for low credit scores as well as sources that do not take credit scores into consideration. Can something be done if the information contained within your credit report is incorrect and as a result is hindering your ability to get a loan? Often times the answer is yes. (Credit Report Information)
Different from the No Income and No Asset Verification Loans the Stated Income loan requires that the borrower state the income on the application but the amount may not be verified. The No Ratio loan requires that the income is stated on the application and is verified but the debt ratios typically used for qualifying are not computed. Loan-to-values (LTV) as high as 100% are available. Email Us to discuss the best choice for you.
By accepting a slightly higher interest rate the closing costs can be paid by the broker. Certain restrictions apply as to the type of costs that are allowed to be paid. For instance, property taxes (if due), home insurance (if due) and prepaid interest are typically not allowed to be paid by the broker. To determine if a "no cost" loan is appropriate for you consideration of how long the loan will be kept is important. Call or Email us and we can do an analysis of your transaction.
Depending on the loan-to-value (LTV) and lien seasoning factors cash out refinance are allowed. In some instances MI (mortgage insurance) may be required. Call or email me at info@rhomesandloans.com to discuss the options for you.
There are great many sources for 1-4 units purchases and refinances. However, when looking for financing for 5 or more units the playing field narrows. I do have excellent sources for both 1-4 and 5+ units. Both ARM (adjustable rate mortgage) and fixed rates are available. Call for LTV (loan-to-value) limits and guidelines.
The "125" loan is a 2nd. mortgage and is available for a variety of credit grades. Debt consolidation and cash out are common reasons for this loan. Even higher LTVs are available for special circumstances such as home renovation. This loan may or may not be appropriate for your situation. Email Us for advice to determine appropriateness.
For virtually every lending situation, I HAVE A SOURCE. The availability of competitive Interest rates and programs is dependent on the lending sources. R Mortgage Company from the start has made obtaining and building relationships with lending sources a high priority. Check out our Conforming rates (loans up to $300,700) and Jumbo rates (loans greater than $300,700). R Mortgage and Real Estate Services Website: RHomesandLoans.com Office: 510-537-2972 | Email info@rhomesandloans.com Loan Types | Loan Application | Rates | Credit Report Calculator | Resources | Client Comments Our Team | Contact Us For Real Estate Services
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