Stated Income, Verified Assets Loan - 30yr or HELOC - NO TAXES NEEDED - Cash out to 70 LTV in Santa Barbara, California For Sale
Stated Income Loan Rate Sheet | Purchase or Cash out | 70% LTV NO taxes or w2's needed
Stated Income - Verified Asset Loans
Purchase / Cash-Out and Rate and Term Refinance
1) Owner-Occupied Primary, Second Homes and Non-Owner Occupied - SFR's, 2-4's and Condos. 660 FICO needed.
Home Equity Line of Credit (HELOC) - 60% LTV - $250,000 - $3,000,000.
Prime + 1 floating with a 4.25% start rate, Interest only payment.
4.25% Floor and 18% lifetime cap
10 year draw and 15 year amortization
$xxxx closing costs and $50 annual fee
Available only in Southern CA !
2) Stated Income - Verified Assets | Owner-Occupied only | Self Employed or W2 | SFR's, 2-4 Units, Condo or PUD. 720+ FICO needed.
Purchase or Cash-Out Refinance
70% to $417K or 60% to $1.0MM
30/30 Fixed 4.75% | 15/15 Fixed 4.00%
Cash-Out to $100K OK
Gift to 95% of Down Payment OK
6 Mos.+ Reserves are required
No Multiple Properties - First time Home Buyer preferred
Foreign Nationals - 50% to $2.5MM - 15/15 Fixed 4.75%
Available in: CA, IL, MA, NJ, NY, TX and WA
REQUIREMENTS and DOCUMENTATION:
Loan application by phone or Point FNM 3.2 File or PDF.
Purchase Contract and Preliminary Title Report.
2 months consecutive Bank or Assets statements.
Credit will be pulled at the Bank and must be derogatory free last 24 Months.
Borrower must open an account with the Bank (FDIC insured) and enroll in autopay for the payment.
DL and SS card or Passport and Green Card, Foreign Nationals - Visa and ITIN
We will provide a Loan Consultancy Agreement, to be fully executed and returned.
Email or scan and label all documents.
FEES :
In the transaction, on the HUD-1, $1,000 or $1,500 on HELOC's includes Underwriting, Escrow and Title. 30 year loans have @ 1 point fee in the transaction. All Loans have separate upfront cost of Appraisal, ($500+/-) plus Prepaid Interest, Transfer Taxes and Recording Fees.
In Sub-Escrow. to be deposited before submission and disbursed after the loan funding.
(100% refundable in the event of no close)
Loan amounts below 500,000 - $7,500.
Loan amounts over 500,000 - 1.5 points.
The information furnished here is preliminary. This is not an offer or commitment. Rates, terms, and conditions may be changed without notice. All transactions are subject to submission of a formal application, underwriting, and written approval. Loan approval terms may vary. Insurance acceptable to the lender is required to be maintained on subject property.
Contact Information
Bob Thompson, Account Executive
(562) 344-LOAN
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Service Area: CA and Nationwide
Years of Service: 17
Service Type: Real Estate
Market Focus: Standard
Attributes
Credentials
CA DRE # xxxxxxxx
Benefits of Service
Stated income
No Taxes
No w2's
Clients
Available to the General Public, Mortgage Brokers and Realtors.
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All information in this site is deemed reliable but is not guaranteed and is subject to change