SPECIALTY LOAN PROGRAMS
These are special loans for borrowers with special needs. These loans are used in places where ordinary home loans may not work. Getting a longer term for repayment, or making interest only payments, or lowering your monthly payments.
Interest only loans:
- Want lower payments?
- Pay interest only for 10 years
- Qualify for 25% more home loan
- Great for short term holding
- Save hundreds of dollars on monthly cash flow
- This is not a ‘negative amortization loan’.
- Fico score 580 required
50 year amortized loans:
- Pay down principal from the start.
- Lower payments
- Not available in all states
40 year amortized loans:
- Loan programs that stretch your dollar
- Lower monthly payments
- Qualify for greater mortgage
- Great savings on monthly mortgage payments
- Owner occupied, non owner, second homes
- Credit scores low as 540
- All credit grades
Stated Income loans
- No income on loan application- not available in 2008
- Wage earners, self employed
- Minimum 720 fico needed.
No seasoning loans
Will use appraised value first mortgages only
Bad credit home loans, Home equity loans,Second mortgages,Current interest rates
Mortgage Brokers and lenders California,Texas
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