GREAT PROGRAMS STILL AVAILABLE!!!!

 VERIFICATION OF EMPLOYMENT ONLY

NOW UP TO $729,750

Ø  Owner Occupied Only

Ø  SFR, Condos, 2 - 4 Units

Ø  Rates - 5.125% to 5.75% with .5+ cost

Ø  NO 4506 REQUIRED

Ø  Must have verifiable employment  (no company owners & no family businesses, no commissioned salespeople)

Ø  20 % Minimum Down payment required depending on Fico score.

Ø  620 Minimum Fico

Ø  Gift funds allowed

Ø  CA Only

Ø  No more than 10 properties total - no rental income can be used

 

 

CONDO

EXCEPTION PROGRAM

FOR CONDOS THAT DON'T MEET NORMAL QUALIFICATIONS!

Ø  NO Litigation Issues

Ø  DELINQUENT HOAs, OCCUPANCY RATIOs, etc - OK

Ø  Case by case – most condo related issues OK

Ø  CA Only

Ø  Min Loan $100,000 – owner occ / $150,000 non-owner

Ø  Owner Occupied & Non Owner Occupied

Ø  Low Rise & High Rise Buildings

Ø  Rates - 5.5% to 5.875% with 1+ cost

NO HVCC – broker can use own appraisal

 

620+	80%	$729,750	Owner	R/T, PURCHASE
620+	75%	$417,000	Owner	CASH OUT
660+	75%	$729,750	NON - Owner	R/T, PURCHASE
700	60%	$417,000	NON - Owner	CASH OUT

 

 

558800 FFiiccoo FFuullll DDoocc!!

􀀹 20% Minimum Down Payment

􀀹 Conforming Loan Amounts to $417,000

􀀹 Full Doc

􀀹 30 Year Fixed

􀀹 Purchase, Rate & Term Refi

􀀹 Refi Cash out – MAX 75% LTV

􀀹 Rates as low as 5.875% with a 1 point cost

􀀹 SFR, Condos, Townhomes

􀀹 Owner Occupied Only

􀀹 First Time Home Buyers OK!

 

90% Full Doc Conforming Loan

We have the MI company that STILL insures to 90%!

􀀹 Conforming Loan Amounts to $417,000

􀀹 Full Doc

􀀹 30 Year Fixed

􀀹 700 min Fico – (anything over 80% LTV)

􀀹 Purchase and Rate & Term only

􀀹 SFR, Condos, Townhomes

􀀹 Owner Occupied Only

􀀹 First Time Home Buyers OK!

 

JUMBO LOANS UP TO $925,000

􀂾 25%Down to $925,000

􀂾 Full Doc

􀂾 Minimum Fico 660 to 680 (case by case)

􀂾 Interest Only Payment Option

􀂾 No Minimum Reserve Requirement

􀂾 Up to 10 Financed Properties

􀂾 SFR, PUDS, Condos, 2 units

􀂾 OWNER OCCUPIED ONLY

􀂾 Purchase, Rate & Term, and Cash Out

􀂾 CA only

 

STATED PROGRAM for W-2 Borrowers

􀂾 PURCHASE - SIVA (down payment, must be verified)

􀂾 REFI – SISA – Cash out – Rate and Term

􀂾 Owner Occ, 2nd Home, Non-Owner

􀂾 SFR, Condos, 2 - 4 Units

􀂾 Loan amounts to $625,000 on 1 unit (old conforming limits, county based)

􀂾 Rates as low as 5.875% with 1 point cost

􀂾 Must have verifiable employment (no company owners, or 1099s)

􀂾 Must provide recent paystub and 2008 W-2 for job

    verification purposes only & signed 4506-T

􀂾 Income on paystub/W-2 must be reasonable to income on

    1003 (20% to 35% variance allowed)

􀂾 700+ fico = 20%  Down (5% reduction for non-owner)

􀂾 680+ fico = 25% min

􀂾 620+ fico = 35% min (same LTV reduction applies)

􀂾 No more than 4 properties total 􀃍

􀂾 Underwriting 6 business days

􀂾 Min Loan $100,000 – Owner Occ / $200,000 Non-Owner Occ

 

 

CAMILO MORENO

Mortgage Professional

Purchase Money Specialist

Great western Bancorp Inc.

6033 W. Century Blvd # 700

Los Angeles CA 90045

310 216 1700 ext 116

310 216 1750 Fax

www.gwbmortgage.com