Unconventional Mortgages and Loans

Well, for starters we can use our or your own Appraiser!

Portfolio lenders can provide good loans for good people because they lend their own money and therefor don’t have to conform to an investors pool of underwriting guidelines.

Because portfolio lenders can typically make their own decisions, they can afford flexibility to the borrowers. A Non Agency lender is a different world in terms of loan guidelines in this time of uncertain lender dependability. Don’t listen when your loan officer tells you that you can’t be helped because all there is for mortgage loan programs these days are fannie mae, agency or government product.

Here is an example

• Cash out refinances to loan amounts of $900,000 to 90%  financing in most states. With Impounds as low as 3.30% as of this morning.
• Stand-alone 2nd mortgages/HELOCs – $350,000 max line amounts.
• Their prime rates at 3.25%, they can afford to offer these low rates too
• 1st lien HELOCS (Home Equity Line Of Credit)
• All HELOCS – 15 years to draw plus up to 10 more to repay
• Only 12 month mortgage credit history to qualify
• No price adjustment for cash out
• No mortgage insurance required
• Properties 1 day off MLS OK
• Manufactured homes OK, limited loan amount
• Interest only option OK

Good and worthy borrowers still deserve aggressive loan programs!