orange county, ca free classifieds
backpage.com > orange county services > orange county real estate services

Posted: Sunday, March 16, 2014 9:09 AM

Replyclick here

Stated Income-Verified Asset Loans, Alternative Documentation (ALT-doc) Loans - Cash-out Refi and Purchase up to 80% LTV | No taxes or w2's needed
Stated Income, Private Money and ALT Documentation Mortgage Loan Products


Stated Income - Verified Asset (SIVA) Loan Products for Residential

1) Owner-Occupied (for business purposes) Non-
Owner Occupied and Second Homes - SFR's, 2-4's and Condos. 720+ FICO needed.
SIVA Home Equity Line of Credit (HELOC) - up to 60% LTV - Loan amounts $150,000 - $1,000,000.
50% LTV to $1,000,000, 40% to $2,000,000 total outstanding

6.5% floor and start rate then Prime plus 2 floating.
18% lifetime cap. 10 year draw and then 15 year amortization

Available in: California, NY, NJ, MA, IL, TX and WA.

2)
Stated Income - Verified Assets | Owner and Non-Owner Occupied | Self Employed Business Owners or W2'ed, No 1099s | SFR's, 2-4 Units, Condo or PUD. 720+ FICO needed.
Purchase or Refinance, Cash-Out Refinance to $100K
60% LTV to $2.0MM
30 year fixed 6.215% | 15 year fixed 6.00%

Available in: California, NY, NJ, MA, IL, TX and WA.

Private Money, No Income-No Asset (NINA) Loan Product for Residential or Commercial

3)
No Income, No Asset Purchase or Refinance Loan, Loan Amounts to $4,250,000.
Private Money Loans for Owner Occupied, Non-Owner and Investment properties up to 65% LTV.


Terms to 40 years and Rates from 9.9% interest-only and 2 points.
Interest reserve options. 15 day close of escrow.
Construction to completed 65% LTV
Investor & REO financing - Any amount of properties allowed
No mortgage or minimum FICO credit history required. In Bankruptcy or Foreclosure OK.
Unlimited cash out. No title seasoning required, no upfront fees.
You provide your own appraisal through - http://appraisalinstitute.org

Available in: California.

Alternative Documentation (ALT-Doc) Loans

4)
12 Month Bank Statement Averaging Loan for Self-Employed Business Owners.
Must be Self-Employed.

3, 5, 7 and 10/1 ARM's, 30 years amortization. Rates from the low 4's.
Owner Occupied and Non-Owner Investment properties, SFR and 1-4’s.
Borrow up to $4M for a purchase or rate and term refinance (Loan to value restrictions apply, up to 80% LTV).
Cash-out refinance as well, all the way to $3.5M and up to 70% LTV, if the property and borrower meets all other criteria.
Minimum FICO scores are 740
Qualifying - Using the borrower’s last 12 primary personal bank statements, we average the
gross deposits, draws and wires from your business and use that as the income to qualify for the loan.
Or using the borrower’s last 12 primary business bank statements, we average the
net deposits, less withdrawals and use that as the income to qualify for the loan.
43% DTI based on deposits and debts on the credit report and with the new mortgage. No Taxes, w2's or 4506T required. We need 12 months PITIA reserves and the down-payment for the subject property seasoned in the bank for 60 days on Owner Occupied and 12 months reserves on all debt on Non-Owner.


This loan is now available in the following States: AZ, CA, CO, DC, FL, HI, IL, MD, MT, NV, NJ, NY, NC, OR, SC, VA and WA.



Requirements and Documentation for the Stated products (Loans #1 and 2):
Email the loan application and financial statement.
Last 2 months Bank or Asset statements showing 6+ months of payment reserves.
Credit will be pulled at the Bank and must be derogatory free last 24 Months.
No bankruptcies on credit history allowed.
Borrower may be required to open a deposit account with the Bank (FDIC insured) and enroll in autopay for the mortgage payment.
Provide a copy of DL and SS card or passport.

We will provide a Loan Consultancy Agreement, to be fully executed and returned.
Scan, label and email all documents.


FEES:

The Banks' fees, in the transaction: Fees vary by institution, loans #1 and 2 have a .5 point fee at application, this will cover underwriting, escrow and title, it is 100% refundable in the event of no close of escrow. Additional costs are customary prepaid interest, transfer taxes and recording fees. All loans have a separate non-refundable upfront cost of appraisal and credit report, +/-($600).

Our Loan Consultant fees in a Holding Escrow: To be deposited before loan submission, held, and disbursed after the loan funding (100% refundable in the event of no close).
Loan amounts to $350,000 minimum flat fee of $7000, over $350,000 - 2 points.


Loan #4, minimum fee is the greater of $5000 or 1.5 points of the loan amount.



The information furnished here is preliminary. This is not an offer nor a commitment to lend and shall not be construed as such. Rates, terms, loan products and loan conditions may be changed without notice, example of rates as of 3/14/14 on a CA refinance loan amount of $350,000 with 720 FICO and 60% LTV, 30 year fixed 6.215%/6.377% APR, 15 year fixed 6.00%/6.135% APR. All private money loans offered in accordance and compliance with CalBRE regulations. Stated loans are provided to, and conform with applicable state laws regarding commercial lending transactions for business purposes. All loan transactions are subject to the submission of a formal application, appraisal, underwriting, and written lender approval. Loan approval terms may vary by asset type and borrower credit worthiness. Insurance acceptable to the lender on subject property is required to be maintained on the subject propertyfor the duration of the loan.

Contact Information
Association Logo
Bob Thompson, Account Executive, RMF Lending, Inc.
(562) 344-LOAN
Logo
Profile
Service Area: California and Nationwide
Years of Service: 19
Service Type: Real Estate
Market Focus: Standard
Attributes
Specialties
Single Family Homes
1-4's
Multifamily
SIVA Loans
Stated HELOC's
Credentials
CalBRE #01893519
Benefits of Service
Stated income
No Taxes
No w2's
No 4506T needed
Verified Assets
Owner-Occupied Stated
Private Money Stated Purchase Loans
Private Money Refi Loans
Clients
General public can apply direct
Broker co-ops on Private Money only
All information in this site is deemed reliable but is not guaranteed and is subject to change

92690    google map | yahoo map

• Location: Orange County

• Post ID: 29050615 orangecounty
orangecounty.backpage.com is an interactive computer service that enables access by multiple users and should not be treated as the publisher or speaker of any information provided by another information content provider.