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Non-Conforming Loans
We offer a variety of non-conforming loans.
Loan Guidelines
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Up to 75% on single
family owner occupied homes
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Up to 75% on mobile
homes of any age (including pre-1976), improved land, and
mixed use
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Up to 360 months for
single family owner occupied
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Up to 240 months for
mobile homes, improved or vacant land, non-owner occupied
and mixed use properties
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(Loans may be subject to
5 yr. balloon and a 2% prepayment penalty for 3 years)
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Minimum Empirica credit
score of 600 for owner occupied properties
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No minimum credit score
on other property types
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Must be self-employed
to use stated income
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Provide 2 years
individual income tax returns with all pages and schedules
DTI LIMITS
Monthly Income....................Max Debt-to-Income Ratio
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Under
$2000.............................35%
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$2001 -
$2500...........................40%
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$2501 -
$4000...........................45%
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Over
$4000...............................50%
RATES
Interest rates range from 8.95% to
13.69% depending on property type, credit score, and
documentation type. Expect to pay up to 5% for loan fees and
points.
Please contact us for additional
information.
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