Today is Wednesday, January 07, 2009

Loan Programs

                                                  PROGRAM HIGHLIGHTS

PURCHASE OR REFINANCE

-530 C/S TO 100% LTV
-MTG ONLY OPTION TO 85% - IGNORES CONSUMER LATES
-500 C/S TO 95% LTV- LIMITED TRADES OK -TO 100% WITH 10% SELLER HELD SECOND MORTGAGE
-1 X 30 ON MTG OK
-1 TRADE W/ 24 MONTH HISTORY
-1 CURRENT OPEN + ACTIVE FOR 6 MONTHS PLUS 1 ADDITIONAL TRADE COLLECTIONS OK
-50% DTI – HIGHER DTI TO LESS 55% W/ HIGHER C/S
-6% SELLER CONTRIBUTING
-S/F, CONDOS, TH, -OK
-INTEREST ONLY AVAILABLE @ 600 C/S
-BANKRUPTCY-ONE DAY DISCHARGE- OK
-LOWER LTV’S FOR 3/4 UNIT DWELLINGS
-1ST TIME HOMEBUYERS- OK *w/ restrictions
-DEROGATORY CREDIT DOES NOT NEED TO BE PAID OFF UNLESS AFFECTING TITLE
-MATTRESS $$ OK – ASSETS SOURCED NOT SEASONED 

 PLEASE NOTE: EACH LINE ITEM ABOVE MAY NOT BE AVAILABLE FOR ALL PROGRAMS

STATED PROGRAMS

-570 C/S TO 100% LTV
-560 C/S TO 90% LTV
-XXX C/S TO 95% LTV
-500 C/S TO 80% LTV
-STATED WAGE EARNER OR SELF EMPLOYED-OK
-INTEREST ONLY PAYMENTS AVAILABLE W/ 600 + C/S
-S/F, CONDO, TH,- OK
-ASSETS SOURCED, NOT SEASONED
-1ST TIME HOME BUYERS OK *w/ restrictions
-LOWER LTV’S FOR 3/4 UNIT DWELLINGS

BANKRUPTCY & FORECLOSURE

-1 DAY OUT OF B/K – OK!
-12 MONTHS OUT OF FORECLOSURE IS -OK TOO!
-MORTGAGE LATES- OK
-STATED UP TO 90% LTV WITH 620 SCORE
-FULL DOC LTV’S TO 95%
-MINIMUM FICO 560 FOR PROGRAM
-CH. 13 PAYOFF AVAILABLE @ 85% 

TRUE NO-DOC PROGRAMS

-EMPLOYED OR NOT – OK
- ASSETS OR NOT - OK
-MINIMUM C/S 580 
-MORTGAGE HISTORY SHOULD HAVE NO LATES
-90% LTV W/ 620 C/S
-BANKRUPTCY MUST BE > 3 YEARS
-FORECLOSURES MUST BE > 5 YEARS 

FHA/VA GOVY SPECIALIST

-FULL DOC                                                                                                 STREAMLINE REFINANCE
-PURCHASE,  RATE & TERM REFI TO 97.75%                                 -MTG HISTORY ONLY UP TO 1 X 30 LAST 12 MTHS
-CASH OUT OR DEBT CONSOLIDATION TO 95% LTV                   -DEROGS DO NOT HAVE TO BE PAID  OFF                                                                                                                        UNLESS AFFECTING TITLE
                                                                                                                     -INT.RATE REDUCTION ONLY- NO C/S  
                                                                                                                     -NO REQUALIFYING

NON-OWNER OCCUPIED

-100 %-FULL DOC- FIXED RATE ONLY W/ 680 C/S TO $400 K
-100%- STATED INCOME-1-2 UNITS W/640 C/S

-80 % LTV FULL DOC W/ 580 C/S
-95%-NO RATIO – FIXED RATE ONLY W/ 680 C/S
-70% NO DOC, NO RATIO W/ 580 C/S
-95% FULL DOC W/ 620 C/S TO $400,000
-3 YEARS OUT OF BANKRUPTCY – OK!
-90% STATED W/ 620 C/S
-3 TO 5 YEARS FORECLOSURE- OK!
-90% NO RATIO FIXED OR ARM RATE W/ 620 C/S
-INTEREST ONLY AVAILABLE *subject to LTV adjustment
-85% NO DOC FIXED RATE ONLY W/ 700 C/S 
-S/F, DUPLEX, CONDO & TH
-75% NO DOC FIXED RATE ONLY LTV W/ 600 C/S
-LOWER LTV’S FOR 3/4 UNIT DWELLING (NOT AVAILABLE FOR ALL PROGRAMS)
-LOWER LTV’S FOR CERTAIN LOANS ABOVE $400 K


The following is a partial list of programs offered by First Transcontinental Financal with a brief description of the key elements.

  • CONVENTIONAL: Programs available for the borrower who needs 95% financing. Also, 97% to 100% loans are available under specific limits.

  • GOVERNMENT PROGRAMS (FHA/VA): Numerous loans are available under these programs. Intended for the low or moderate income and veteran borrowers. 100% financing or minimal down payment is available. Income and loan amount limits do apply.

  • 90% RATE OR TERM REFINANCING: For the customer wanting to obtain a lower interest rate. Loans are based on a maximum of 90% of appraised value.

  • CONSTRUCTION-PERM: Offers a one time closing for those who are building their homes themselves. During construction the loan is at a floating rate, which is converted to a fixed or adjustable rate after completion. (Please call for program availability).

  • DOWN PAYMENT ASSISTANCE: First-time homebuyers who meet the income requirements can qualify for the following: Mississippi Home Corp. Bond Money, Down Payment Assistance, and Mortgage Credit Certificate.

  • 100% RHCD: This program provides 100% financing for homebuyers who have not owned a house in the past three years. HUD has limitations on the loan amount due to geographical location. The loan amount can be for 100% of the appraised value. Income limits do apply.

  • SECOND HOME: A program for the homebuyer wishing to purchase a vacation home. This purchase can be financed up to 90%, depending on the loan amount.

  • INVESTOR/RENTAL PROPERTY: For buyers who are looking to generate rental income by purchasing these types of properties. Multiple- property ownership is allowed under certain programs. Financing up to 90% is available.

  • NO INCOME VERIFICATION: This allows the self -employed borrower or special borrower who does not wish to provide tax returns, P&L's, or pay stubs to finance 80% on a refinance or 90% on a purchase, without evidence of these documents.

  • BALLOON/ARM'S: These programs are intended for homebuyers who feel they will occupy the property only for a short period of time.

  • NONCONFORMING: For customers with bruised credit or debt ratios up to 50%. Loans with LTV's of 90% and over $500,000 are available.

We work to get you the best loan possible. Our qualification process is simple and fast!

Fill out our easy online loan application!

4700 NORTH STATE ROAD 7, STE. 208
FORT LAUDERDALE, FL 33319
TOLL FREE: 888-771-3400
PHONE: 954-978-3100
FAX: 954-671-6858

Equal Housing Lender. © 2009 First Transcontinental Financal Group Corp.
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