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Loan Programs

FHA/HUD:  Federal Housing Administration and Housing of Urban Development.  These government agencies provide insurance on loans meeting the FHA/HUD guidelines.  The agency insurance reduces the risk of loss for lenders.  Because this is a loan program which involves a government agency for final approval, processing times range from 4 to 6 months.

Fixed Periods
Amortization
LTV
Rates
Projects
Up to 40 Years
Up to 40 Years
Up to 90%
4.5% to 5.5%
New Construction, Rehab, Purchase, Refinance

 

Agency Product: This program allows lenders to securitize and sell loans. As a result, this program offers high leverage, longer fixed rate terms & longer amortization than most lenders.

Fixed Periods
Amortization
LTV
Rates
Projects
Up to 30 Years
Up to 30 Years
Up to 80%
4% to 7%
Purchase, Refinance

 

Commercial Banks:  Traditional lending programs made by commercial banks with traditional lending standards. 

Fixed Periods
Amortization
LTV
Rates
Projects
Up to 30 Years
Up to 30 Years
Up to 80%
4% to 6%
Purchase, Refinance

 

Loan Process

Pre-Approval:
After an initial contact you will be provided with a brief list of items we'll need in order to issue a loan pre-approval. In your pre-approval you can expect a quote for rates, terms, costs, valuation estimate, expected time-frames and instructions on how to proceed to step two.

Registration and Engagement:
Registration is the point in process when we submit a complete proposal package to our underwriters. Upon underwriter's satisfactory review of the loan file, we commit 3rd party funds and any applicable fees in order to engage an appraiser and inspector.

Processing:
After 3rd party reports have been ordered, our friendly loan assistants will request some additional items of verification. This list will usually entail personal tax returns, entity documentation, funds verification, etc. but may vary depending on your specific program.

Closing:
Once 3rd party reports are completed and the verification process satisfied, a final loan approval will be issued. Once approval is signed and returned, with any prior-to-closing conditions satisfied, our underwriters draw loan documents. Our assistants ensure a coordinated and timely closing by working closely with your title and escrow agent.

 

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