Mortgage Interest Rates Newport Beach Ca: "Believe It Or Not": Borrowers that have "ASSETS" and tax returns showing little income need this loan!

"Believe It Or Not": Borrowers that have "ASSETS" and tax returns showing little income need this loan!

Yes there are mortgage loans that will allow a borrower to purchase a home when they show very little income on their tax returns.  (Not your typical "traditional" mortgage)

This loan would require assets. These assets don't have to be liquid. They can be stocks, bonds, mutual funds or savings of any kind.    

This loan will also permit as little as 10% down.   This loan is incredibly unbelievable.  But believe it, it exists. This loan will allow the borrower to utilize assets for the down payment without cashing in on the asset.

These loans are priced very well and not out of line with the going traditional conventional mortgage product. Believe it or not, you have options to select the fixed term of the loan.

Believe this.... Applications increased 1.1% from one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased 1.1 percent on a seasonally adjusted basis from one week earlier. The Refinance Index increased 0.9% to its highest level since December 10, 2010. The seasonally adjusted Purchase Index increased 1.5% from one week earlier.

Also available:

     * Vesting in Entities - all types of trusts, LLC's, partnerships & corporations
     * Foreign Nationals - no fico required; second homes okay; foreign income and assets acceptable
     * Unlimited Acreage & Expanded Property Types including hobby farms orchards and vineyards
     * Non-Warrantable Condos

So you see, "believe it or not", the lending world still has options for the homeowner that you probably didn't know about, because you are thinking in the traditional sense.

 

$100 bills

 

 

Call Now ...

    Patty Rowan

   California Mortgage Banker/Broker/Orange County  

     949 689 4465

     Newport Beach, Ca 92660

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Comment balloon 2 commentsPatty Rowan • May 26 2011 08:12PM

Comments

Good to hear that lending is coming around. this should help out many buyers that wouldn't qualify for conventional lending products.

Posted by Victor Zuniga (Berkshire Hathaway Home Services California Properties) over 7 years ago

Yes they, (meaning the money behind these loans called investors) are realizing that the governement is not going to assist any longer now that they are positioning to reduce the loan amounts that Fannie & Freddie will support to $650,000 from $729,750.  We've known this for awhile, it's just that the deadline isapproaching, if all goes as they plan.

We need loans with optional terms, fixed arms and fully amortized terms that will allow a small business owner who files schedule C or 1120s/1065s and has good credit history, especially in light of the pull back in good credit in the last 3 years, to qualify to purchase and refinance their homes. 

Posted by Patty Rowan over 7 years ago

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