New SUB PRIME Products now available in limited areas

NEW SUB PRIME OFFERINGS NOW AVAILABLE

 NO upfront fees & NO RESERVES needed on any of our Programs

  • 30 year term, 7 yr ARM on all of our loans, NO PPP & NO balloon on any program
  •  AZ, CA, CO, FL, ID, NV, OR, TX, UT AND WA  ONLY!
  • WE can use old appraisal as long as it was done no more than 120 days old at funding.  
  • No need to even change the lender name 
  • We will allow GIFTS on O/O, 2nd home & Investment properties (gift can be for FULL Down payment required on that particular loan, will need GIFT letter)
  • We allow up to 20 total properties, so we can do CASH OUT on any one of them

 

PROGRAM OUTLINES:

 

1. BANK STATEMENT FUNDING:

We have a bank statement program for Self Employed Only, 24 months all pages,

you can use personal or business BS, NO TAXES, and NO 4506

 MIN FICO for Owner Occupied Bank statement is 600

MIN FICO for Non Owner Bank statement is 500

MAX LTV for Owner Occupied Bank statement is 80 LTV

MAX LTV for Non Owner Occupied bank statement is 65 LTV

USE 100% of the deposits, do NOT use balance transfers

 

2. We can do Stand Alone 2nd's 

 OWNER OCCUPIED ONLY CA AND AZ

MID FICO NEEDED IS 550

MAX CLTV IS 70%

 

3. Coming out of a short sale ....:?

 We will do 1 day out of a short sale/DIL up to, 60% LTV WITH A 500 FICO

We will do 1 day out of a short sale/DIL up to 65% LTV with a 550 MID FICO 

We will do 1 day out of a short sale/DIL up to 70 LTV with a 600 MID FICO!!!

We will do 12 months out of a short sale/DIL up to 80% LTV with a 650 MID FICO- 

 

4. Coming out of a BK....?

1 DAY OUT OF BK, MAX 60 LTV, and 500 FICO REQUIRED 

12 MONTHS OUT OF BK, 65 LTV, and 550 FICO REQUIRED

1 DAY OUT OF FC, MAX 60 LTV, and 500 FICO REQUIRED

 5. Coming out of a FORECLOSURE....?

12 MONTHS OUT OF FC, 65 LTV, and 550 FICO REQUIRED

 

We can use old appraisal as long as it was done by a AMC (up to 120 days at funding, do NOT even need ender name changed

We will allow GIFTS on O/O, 2nd home & Investment properties (gift can be for FULL Down payment

required on that particular loan, will need GIFT letter)

We allow up to 20 total properties, so we can do CASH OUT on any one of them

 

If you have a sub prime need that fits any of the above scenarios, contact Jason  Hooks at:

localprivatemoney@gmail.com

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