HARP Home Affordibility Refinance ProgramRefinance

Harp 3.0 Home Affordability Refinance Program

admin Residential Loans, Uncategorized

HARP 3.0 Home Affordability Refinance Program

HARP 3.0 Refinance

Home Affordable Refinance Program (HARP)

If you have not fallen behind on your mortgage payments and are unable to get a refinance loan from a traditional bank, you have the ability to refinance your mortgage with the new Homme Affordable Refinance Program (HARP) 3.0 program. HARP 3.0 will help you a more affordable and stable mortgage which you can afford. HARP 3.0 offers a unlimited loan to value, no income verification and historically low rates for every one with a mortgage.

The improvements made to the Home Affordability Refinance Program are now available in the HARP 3.0 refinance program. The HARP 3.0 Program has many enhancements that were not available in HARP 2.0. HARP 3.0 is currently in the process of being approved by Congress and the present administration has strongly supported the program. HARP 3.0 will allow homeowners to get their homes mortgage refinanced even when the the mortgage loan is higher than the value of the home. With the introduction of the HARP program in 2009, millions of home owners have been able to avoid losing their home to the banks.

HARP 3.0 Improvements

The HARP 2.0 program only allowed borrowers whose mortgage was insured by Fannie Mae/Freddie Mac or a Fannie Mae/Freddie Mac approved lender. HARP 3.0 allows any mortgage from any lender such private lenders, mortgage banks, jumbo loans, sub-prime mortgage and all other mortgage loans. Now, all mortgages can have the same refinancing options guaranteed by the Federal government.

HARP 3.0 has eliminated the requirement which allowed only loans that were sold to GSE before June 1, 2009. We can now refinance your home when ever you originally funded you mortgage and get you a historically low rate.

With HARP 2.0, Borrower could only use the program once but with HARP 3.0, borrowers can refinance their property many times and take advantage of lower rates than they have now.

With HARP 3.0, borrowers can have one 30 day late in the last six months prior to their application which is another improvement from HARP 2.0.

Even though HAPR 3.0 has some limitation, there is many improvement that allow more borrowers to take advantage of the historic low rates and simple loan process of the new Home Affordability Refinance Program.

[pricing price=”” currency=”” title=”HARP 3.0″ desc=”Residential Refinance” moretext=”More” type=”big” url=”/residential-loans] [feature]Unlimited (LTV) Loan to Value[/feature] [feature]No income verification[/feature] [feature]No asset verification[/feature] [feature]No appraisal[/feature] [feature]1×30 day late in last 6 months[/feature] [feature]Any original mortgage lender[/feature] [feature]Second and non owner properties[/feature] [feature]Mortgages placed after June 1, 2009[/feature] [feature]Refinance more than once[/feature] [/pricing] [pricing price=”” currency=”” title=”HAPR 2.0″ desc=”Residential Refinance” moretext=”More” url=”/residential-loans” window=”new”] [feature]1×30 day late in the last 12 months[/feature] [feature]No appraisal[/feature] [feature checkmark=”x”]Any original mortgage lender[/feature] [feature]Unlimited LTV[/feature] [feature]No income verification[/feature] [feature]No asset verification[/feature] [feature checkmark=”x”]Mortgages placed after June 1, 2009[/feature] [feature checkmark=”x”]Refinance more than once[/feature] [feature]Second property or non owner[/feature] [/pricing] [learn_more caption=”Lending Territories”] [m id=”lending-territories” service=”HARP 3.0″]

Stated Income Cash Out 70% LTV

admin Commercial Loans, Uncategorized

Stated Income Cash Out Refinance Loan

Stated Income Cash Out

One of our most popular programs is our Stated Cash Out owner and non owner occupied loan. Rates as low as 4.25% for residential loans, 1-4 units and rates start at 5.125% for commercial properties such as apartments, industrial properties, retail properties, office properties, gas stations and all other types of commercial properties.

Stated Cash-out programs are very popular because of the simple application process and reduced documentation required to fund the transaction.  Many self employed and wage earning borrowers are ideal candidates for the Stated Income with cash out program.  If you have a strong credit history with many big credit trade-lines and have sufficient equity, we are able to help you fund your next transaction. Whether you need to get the cash out for home improvement, business needs or a vacation, regardless of the use of your funds, you can get the loan.

Apply today and find out how what you qualify for and what the rates will be.

Apply Now!

[learn_more caption=”Lending Territories”] [m id=”lending-territories” service=”Stated Income Cash Out”][/learn_more]

Stated Income Commercial Loans

admin Commercial Loans, Uncategorized

New Stated Income Commercial Loan Program

Stated Income Programs for Commercial property mortgage loans allow our borrowers to avoid the additional paperwork associated with verified income loan programs.Fast approval process and great terms make our stated income commercial loans one of our most popular programs.

Contact Us

or Call us 877-976-5669

Stated Commercial Property Loan Overview:

[pricing price=”” currency=”” title=”Stated Income Highlights” desc=”Commercial Property Loans” moretext=”More” url=”/commercial-loans] [feature]No Income Verification[/feature] [feature]Individuals, DBA, Corporation, LLC, Trusts[/feature] [feature]All Commercial Properties[/feature] [feature]Commercial Construction[/feature] [feature]Land Loans[/feature] [feature]No 4506T Required[/feature] [feature]Blanket Loans[/feature] [feature]No Seasoning on Employment[/feature] [feature]Equity Gifts[/feature] [feature]Purchase and Refinance[/feature] [feature]90% CLTV[/feature] [feature]Appartment Building Loans = 85% LTV[/feature] [/pricing] [pricing price=”” currency=”” title=”Stated Income” desc=”Small Commercial” moretext=”More” url=”/commercial-loans] [feature]5+ Units & Mixed-use = 70% LTV[/feature] [feature]Loan Amounts to $5,000,000[/feature] [feature]Purchase, Refinance, Cash Out[/feature] [feature]Debt Service Ratio < 1.20[/feature] [feature]3, 5, 10 year fixed rate[/feature] [feature]30 year amortized[/feature] [feature]FICO 650[/feature] [feature]Automotive Services = 65% LTV[/feature] [feature]Land Purchase Loans = 50% LTV[/feature][feature]Construction Loans = 95% LTC[/feature][feature]Office Building Loans = 65% LTV[/feature][feature]Retail Property Loans = 65% LTV[/feature][/pricing]
[learn_more caption=”Learn More”] Stated income commercial loans are available for many of our programs and can be utilized by borrowers who do not qualify for traditional or conventional portfolio loan programs or borrowers who have been declined by other lenders. Top reasons for acquiring a stated loan include:

  • Unavailable income documentation
  • Simple application requirements
  • Quick loan funding process
  • High net worth
  • High Debt Service Ratios (DSCR)

Why Stated Commercial Loans are Ideal

Stated income commercial loans have underwriting guidelines that are more tolerant of risk. Therefore, you are able to avoid the many restriction that are associated with conventional portfolio commercial lending. Custom Morgage is able to approve and fund commercial loans transactions that may have been declined elsewhere.

Stated Income Loans for Multifamily and Commercial Income Properties

[pricing price=”” currency=”” title=”Stated Income Loans” desc=”Multi-Family Properties” moretext=”More” url=”/commercial-loans][feature]1 – 4 Units Investor – Nationwide[/feature] [feature]Loan Amounts to $50,000,000[/feature] [feature]Purchase, Refinance, Cash Out[/feature][feature]Debt Service Ratio Min 1.20[/feature][feature]3, 5, 10 year fixed rate[/feature] [feature]30 year amortized[/feature][feature]FICO 650[/feature][feature]70% LTV[/feature][/pricing]

*** Adjustments – WSJ Prime + 4% – 2% yearly max – 6% life cap over start rate

Contact Us

or Call us 877-976-5669

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