Quick Synopsis of Available Loan Options

     No Down Payment Loans

There are many government and conventional loan programs that, if you have sufficiently good credit, and your income vs. debt ratios are not too high, a loan of 100% of the purchase price will be given you.  However, remember there are still closing costs that must be paid.  A Realtor and a Lender who knows how  and is willing  to work hard to minimize your costs is worth his weight in gold!

100% loan programs may vary by county, region or zip code. Some programs are offered in counties that are not considered to have major cities. Some examples of Florida counties that offer these loan programs are Volusia, Nassau, Baker and Clay. These are full-doc (supplemental stated income may apply n some cases) loans, restricted to 120 - 150% of median income, with flexible guidelines for qualifying. Also, 80/20% combo loans to 100% LTV are availble with very flexible guidelines.

(Note: A Preferred Realtor can negotiate a transaction in which the seller, pays most of your closing costs. A Preferred Lender can interpret the Realtor's Purchase and Sale Agreement, and maximize your loan proceeds).

First Time Buyer Programs

Specific financing programs available for borrowers who have not had an interest in a home for the past 2 to 3 years.  What are the benefits?  They vary depending on your location, income, credit and other criteria.  The important thing to remember is that if you fit into the criteria for your area, it can usually reduce your interest rate, payment amount, or down payment requirement.         

Down Payment Assistance and Cash Grants

There are many agencies, charities, municipalities, etc... that will either lend you part of the down payment, all of the down payment, (usually repaid over 20 years), OR, many many programs in which your down payment is actually given to you, (this is common, one just needs to know where and how to apply).  Some of the Down Payment assistance programs have income limitations-- the rational  being that if you make over a certain amount of money you should have been able to save  your down payment.  Many others programs have no such constraints.  Let us know your situation and we'll find the one that works best for you.

103% LTV Loans

These are loans in which the lender will give 103% of the purchase price.  Why would they do that?  That extra 3% covers all of your closing costs.  Requires good credit and reasonable debt ratios.   

100% Non-Owner Occupied Investor Loan

If you are an investor with good credit you can get the entire purchase price of your residential property financed.  There are many ways to accomplish this but the most usual is a First Mortgage for 80% of the value and then a "Piggy Back" loan funded by us for the remaining 20% of the value.

Stated Income Loans

Some people make a ton of money, but have a great tax man so that their tax returns show little or no income.  We understand the realities of aggressive tax manipulation.  As such, with reasonable credit and an ability to show income (via bank statements or other similar methods), we can use your  statement of your income to get you qualified.  

No Doc, No Asset, No Job Loans

Do you have a great tax man?  No bank accounts?  No Job? Couldn't prove the ability to buy a hamburger?  But REALLY GOOD  credit?  If so, you just have to prove that you are still breathing :-)  It can be reasonably assumed that you have an income from some source to pay your existing obligations so... Even though we can't verify anything--  as with the stated income loan, we can use your  statement of income and ability to pay to get you qualified.

Bad Credit No Down Loans

Do you have big credit problems?  This doesn't mean that you can't buy-- It simply means that you might have to use creative financing techniques to become a home owner.  We have all loan programs needed to implement these techniques. 

No Credit, No Down Loans

Many people believe that buying a home is difficult and requires the establishment of substantial good credit before they may take that important step to home ownership.  That is absolutely untrue. The truth is that it is easier  to buy than to rent-- and no credit is much better than bad credit.  Many of the newest government programs will allow the person with absolutely no credit and no money to buy.

Credit Challenged Loans

Do you have a recent Bankruptcy?  Charge offs?  Late Payments?  Collections?, etc... but you have some  down payment to work with?  If so, you can still buy!  We have the largest assortment of sub prime loans to provide financing even with these issues.  What's the drawback?  The corporations that actually fund these loans, know that they are taking a risk.  As such they require a slightly higher interest rate to compensate for that risk.  If the rate for the person with perfect credit was 6.5% you can expect that these loans would be around 8% or higher depending on individual circumstances.

Is it worth it to pay the higher interest rate in order to become a homeowner?  Only you can really answer that question-- but many have found that when you take into account the tax write offs you will receive the money you will earn from appreciation, the security of home ownership (the landlord will never again tell you to move because he needs a place for his cousin), most people agree that the higher interest rate is definitely worth it (as opposed to paying rent for the same payment).

NOTE: If you buy the property and then work on the credit issues, your home can be refinanced to a low rate within 12 months or more depending if you have a prepayment penalty on your loan.

Hard Money Loans

We have a myriad of sources for funding, so that no matter what your credit, no matter what your income, no matter what your down payment, as long as the loan that you need is no more than 65% to 75% of the subject property's value  (as distinguished from price), we can fund it-- whether for a purchase or  refinance.

Debt Consolidations

Do you own a home with equity?  Do you have some car payments and credit card payments that are costing you a fortune?  A properly structured debt consolidation can pay off those high interest high payment loans-- merge them into your house payment and save you hundreds per month!     

125% Refinances

Do you own a home with No Equity?  We can still save you hundreds per month.  Is your home worth $200,000 thousand dollars?  We can lend all of your equity plus  $50,000 more than your home is worth and let you use it to pay off those high interest debts or use however you see fit. Start a business?  Down Payment for that great real estate deal?  Buy that new luxury car?  This loan gives you options. 

Commercial Loans

Rates and Structuring requirements of commercial loans is highly fluid and changes almost with the wind.  Apprise us of your situation and needs-- One of our professionals will give you the best options presently available.    

       Questions?
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