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Zero Down Programs
This type of loan allows the borrower to purchase a
home with literally zero down. Closing costs and
pre-paid expenses can be wrapped into the loan
amount, and the entire purchase price is financed.
This deal is typically structured as an "80/20"
loan, with a first mortgage for 80% of the purchase
price and a second mortgage for 20% of the purchase
price. There is no mortgage insurance on this.
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VA Mortgage
Backed by the Veterans Administration and the
federal government, this program allows the borrower
to purchase a home with zero down, and you have to
be a qualified Veteran or military person.
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Jumbo Loans
For loan amounts over $417,000 on a single family
residence. This program offers 30 and 15 year fixed
rate mortgages and competitive ARM products with
full document, alternate documentation and limited
documentation. Cash out and No cash out refinance
are allowable. Single family detached, Condo’s,
PUD’s and single-family second homes can be financed
with no prepayment penalty.
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Payment Option Mortgage
You Choose the payment:
#1 Minimum payment with start rates as low as 1%
#2 Interest Only Payment
#3 30 yr fixed
#4 15 yr fixed
This type of loan is designed to help borrowers
control their cash flow. This program combined with
a make sense investment would be very helpful in
building long term wealth.
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Investor Loans
Used to finance 1-4 family properties that will be
for investment with as little as a 10% down payment.
Aggressively priced these programs have many
variations such as NO DOC, LIMITED DOC and FULL DOC.
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No Doc/Stated Income
This type of program is especially useful for
borrowers who are self-employed, or for one reason
or another can't verify their income. On this
program, your income is not requested or verified,
and you can obtain financing with as little as 10%
down.
There are several varieties of the "no doc" loan
today. The "no doc" loan that is best suited for a
particular borrower depends on that borrower's
situation. Some borrowers choose not to disclose
employment, income or asset information, while
others may be willing to disclose employment and
asset information but not income. Still others might
be willing to disclose even income but select a
program that doesn't calculate debt-to-income ratios
allowing those borrowers to exceed the traditional
guidelines in order to qualify for a larger mortgage
amount.
With all the different variations of the no-doc
loan, there is definitely a mortgage program for
today's non-conventional borrowers.
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A- thru D Loans
These mortgages are for the credit challenged. They
can vary from slightly damaged credit to severely
damaged. Whatever the situation we have a mortgage
that will get you back on track.
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1 Day Out of Bankruptcy
Borrowers 1 day out of Chapter 7 Bankruptcy can
obtain 100% financing with a 630 middle FICO score.
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High Debt Ratio Loans
Borrowers having the ratio of their monthly bills to
their monthly income higher than 50% are considered
high debt ratio borrowers. Loan programs are
available for these borrowers, allowing them to
finance the purchase of a home or property.
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2nd Mortgage Loans
Subordinate to the first mortgage these loans offer
the borrower the ability to get money for home
improvement, debt consolidation or many other
reasons without disturbing their first mortgage.
Convenient when you have a low interest first
mortgage.
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Triwood
Realty
