Mortgage Loan Programs Designed for Your Success

Fixed Rate Mortgages (FRM)

The most common type of loan option, the traditional fixed-rate mortgage includes monthly principal and interest payments which never change during the loan’s lifetime.

Adjustable Rate Mortgages (ARM)

Adjustable-rate mortgages include interest payments which shift during the loan’s term, depending on current market conditions. Typically, these loans carry a fixed-interest rate for a set period of time before adjusting.

Hybrid ARMs

Hybrid ARM mortgages (3/1, 5/1, 7/1, 10/1) combine features of both fixed-rate and adjustable rate mortgages and are also known as fixed-period ARMs.

FHA Loans

FHA home loans are mortgages which are insured by the Federal Housing Administration (FHA), allowing borrowers to get low mortgage rates with a minimal down payment.

VA Loans

VA loans are guaranteed by the Department of Veteran Affairs, offering military veterans exceptional benefits including low interest rates and no down payment requirement.

Interest Only Mortgages

Home loans in which borrowers make monthly payments solely toward the interest accruing on the loan, rather than the principle, for a specified period of time.

Balloon Mortgages

Balloon mortgages include a note rate that remains fixed initially, and the principal balance becomes due at the end of the mortgage term.

Reverse Mortgages

Reverse Mortgages allow senior homeowners to convert a portion of their home equity into cash while still living in the home.

Graduated Payment Mortgages

Loans in which mortgage payments increase annually for a predetermined period of time and become fixed for the remaining duration of the loan.

Components of an ARM

Prior to choosing a home loan, you should know the advantages and risks of adjustable-rate mortgages to make an informed, prudent decision.

Commonly Used Indexes

Learn about the most commonly used indexes by ARM lenders that affect ARM mortgage rates and how they impact your payments.

Bank Statement Loans

• 12 or 24 months personal or business bank statements
• For self-employed borrowers
• Up to 90% LTV depending on FICO
• DTI up to ~50%

Angel Oak, Deephaven, Acra, Change Wholesale, FundLoans

DSCR (Debt Service Coverage Ratio)

• No personal income required
• Qualify using rental income from property
• Investor loans only
• Often up to 80-85% LTV depending on program

Angel Oak, Acra, Deephaven, Change Wholesale, CV3

Asset Qualifier / Asset Depletion

• Qualify using liquid assets instead of income
• Assets divided over 60 months for income calculation
• Great for retirees or high-net-worth borrowers

Angel Oak, Acra, Change, Deephaven

Profit & Loss (P&L Only)

• Borrower qualifies using CPA-prepared P&L
• Usually requires 12 months bank statements to support
• Mostly primary residence

1099 Only Loans

• For independent contractors
• Uses 1099 income instead of tax returns

Interest-Only Non-QM

• 40-year term with 10-year IO options
• Lower payment for high-income borrowers
• Available with bank statement / DSCR programs

Foreign National Loans

• No US income required
• Foreign investors buying US property
• Often 65-75% LTV

Bradesco Bank foreign national programs

Investor Cash Flow (DSCR No Ratio / Low Ratio)

• Allows DSCR < 1.0 or even no ratio
• For investors expanding portfolios

Closed-End Second / HELOC Non-QM

• Standalone 2nd lien loans
• Up to 85-90% CLTV depending on FICO

Jumbo Non-QM

• Loan amounts up to $3M-$6M
• Bank statement / asset / full doc options
• Primary, second home, investment

Fix & Flip / Bridge Loans

• Short-term rehab or flip loans
• Terms typically 12-24 months
• Investors only