Southern California home sales and prices rise in July -- latimes.com

Southern California home sales and prices rise in July -- latimes.com

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RETAIL BUSINESS FOR SALE

Stated Products Still available!!!!!

VOE ONLY Program:
�� Purchase - (down payment, must be verified)
�� Owner Occupied Only
�� SFR, Condos, 2 - 4 Units
�� Loan amounts to $417,000 on 1-4 unit
�� Rates - 5.50% to 5.75% with a 1 point cost
�� Must have verifiable employment (no company owners & no family
businesses)
�� V.O.E. must be completely filled out with current YTD and previous years
income and information
�� A signed 4506-T is required
�� 640+ fico = 80% max LTV
�� 640+ fico = 70% max LTV Cash Out
�� Gift funds allowed
�� Underwriting 3 business days
�� Min Loan $100,000

STATED PROGRAM for W-2 Borrowers:
�� PURCHASE - (down payment must be verified)
�� Owner Occ, 2nd Home, Non-Owner
�� SFR, Condos, 2 - 4 Units
�� Loan amounts to $625,000 on 1 unit
�� 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
application (20% to 35% variance allowed)
�� 700+ fico = 20% Down payment required (5% reduction for non-owner)
�� 680+ fico = 25% Down payment required
�� 620+ fico = 35% Down Payment required
�� Underwriting 48 business days
�� Min Loan $100,000 – Owner Occ / $200,000 Non-Owner Occ

Jumbo Loans
�� 25% Down payment 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
�� Initial approval in 3 days
Rates As Low As 3.95% on loans up to $925,000

Super Jumbo!
Loans to over $10 million
�� RATES AS LOW AS 5.25%
�� 5, 7, AND 30 YEAR FIXED PROGRAMS
�� FULL DOC ONLY
�� 700 + MINIMUM FICO REQUIRED
�� OWNER, 2ND HOME, AND NON-OWNER
OCCUPIED

PRIVATE AND HARD MONEY JUMBO

Hope your find this information helpful, please call me with any questions or any financing scenarios for your clients.

Good luck!!!


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

OPEN HOUSE - Tuesday 08/04/09 11am-1pm

2037 Holly Hill Ter., Hollywood Hills, CA 90068
3 bdrm, 2 bath, 2,362 sq ft

Free Recorded Message
1-888-225-8060 ext 212

Mansion in Los Feliz

4135 Cromwell Ave, Los Angeles, CA 90027

Coming up... Listing in prime Los Feliz area - N. of Los Feliz Blvd, E. of Vermont. 5bdrm, 4 full highly luxurious bathrooms plus all state of the art major kitchen appliances times two, including in the separate Butlers pantry, media room, pool, hot tub. New construction. Spectacular views.

For rent or to be used for movie shoot or for sale.

Call Igor Korosec (DRE# 01754675) at 310-499-1305