One Year Taxes Mortgage

 

Jumbo Mortgages

Credit scores starting at 660

Up to 90% LTV, No MI

• Loans up to $3 million, Minimum loan of $250,000
• Four years seasoning for foreclosure, short sale,
• bankruptcy or deed-in-lieu
• Owner-occupied, second homes,
• and non-owner occupied
• Purchase and cash-out or rate-term refinance
• Full doc only
• 40 year fixed interest only available
• One year tax return program
• Non-warrantable condos allowed

 

 

Refinance Now!

Fannie Mae's New Refinance Option Available

Beginning June 5, 2021
RefiNow™ Expands Eligibility to Help More Homeowners Reduce Their Monthly Mortgage Payment
(Applicable for Retail and Wholesale channels)

CLIENTS! HOMEOWNERS! People who didn't refinance because of something or other...

May 5 2021, introducing  Lender Letter 2021-10 the new government  RefiNow™ option to enable borrowers to refinance to a lower rate and reduce their monthly mortgage payment. With this program option qualifying homeowners whose earnings are no more that 80% of the Area Median Income (AMI) will be eligible to refinance their Fannie Mae-owned loans to a lower interest rate and a corresponding lower monthly mortgage payment.

The RefiNow™ program option starts June 5, 2021.

Sun West Mortgage Company, Inc. is offering RefiNow™ loan program with an application date on or after June 5, 2021.

RefiNow™ helps the borrower by:

• Requiring a reduction in the homeowner's interest rate by a minimum of 0.5 percent and a savings of at least $50 in the homeowner's monthly principal and interest payment.
• Providing a $500 credit from Fannie Mae to the lender at the time the loan is purchased if an appraisal was obtained for the transaction. The lender must pass this credit to the homeowner after closing. Some transactions do not require an appraisal and this discount will not apply if no appraisal is needed.
• Waiving the 50-basis point up-front adverse market refinance fee that Fannie Mae otherwise charges to lenders on balances at or below $300,000. This discount is sizable money on a mortgage.

To qualify for RefiNow™, the borrower must have:

• a Fannie Mae-backed mortgage secured by a 1-unit, principal residence;
• a current qualifying income at or below 80% of the Area Median Income (AMI);
• not missed a mortgage payment in the past six months, and have no more than one missed mortgage payment in the past 12 months; and
• a mortgage with a loan-to-value ratio up to 97%, a debt-to-income ratio of 65% or less, and a minimum FICO score of 620.

Median income limit minus 20% to qualify for this mortgage product. Let's get your monthly payment down on your home loan!

Call me now (949) 784-9699

this is not a commitment to lend

FHA loan limits are derived from the loan limits adopted by the Federal National Mortgage Corporation (Fannie Mae-FNMA) and the Federal Home Loan Mortgage Corporation (Freddie Mac-FHLMC). The 2021 maximum conforming loan limit for a single-family home will be $548,250. That’s an increase of $37,850 from the 2020 baseline limit of $510,400. This marks the fifth year in a row that federal housing officials have raised the baseline.

LOW-COST AREA OR FLOOR

The FHA national low-cost area mortgage limits, which are set at 65 percent of naäonal
ming limit of $548,250 for a one-unit Property, are, by property unit number, as follows:

• One-unit: $356,362 (FHA limit can be this low AKA the Floor)
• Two-unit: $456,275
• Three-unit: SSS1,soo
• Four-unit: $685,400

HIGH-COST AREA OR CEILING

The FHA national high-cost area mortgage limits, which are set at 150 percent ofthe national ming limit of $548,250 for a one-unit Property, are, by property unit number, as follows:

• One-unit: $822,375 (FHA limit can be this high AKA the Ceiling)
• Two-unit: $1,053,000
• Three-unit: $1,272,750
• Four-unit: $1,581,750

SPECIAL EXCEPTIONS FOR ALASKA, HAWAII, GUAM, AND THE VIRGIN ISLANDS

Mortgage limits for the special exception areas of Alaska (AK), Hawaii (HI), Guam (GU) and the Virgin Islands (VI) are adjusted by FHA to account for higher costs of construction. These four special exception areas have a higher ceiling as follows:

• one-unit: $1,233,550
• Two-unit: $1,579,500
• Three-unit: $90,9125
• Four-unit: $2,372,625

 

Fast Answers

Why Sun West? 

 MORTGAGE EXECUTIVE 

 Sun West is a Direct Lender 

and Servicer with in-house services 

 v v v v Proprietary Technology – 

24/7 access to loan 

 In-house Underwriting and Funding 

 Customer support throughout the loan process 

Services 93% of the loans funded* 

 MORTGAGE COMPANIES IN AMERICA 

 TOP MORTGAGE LENDER 

*Based on the period Jan 1, 2018 to June 19, 2020. 

 SCOTSMAN GUIDE 

 A company that has been in business for almost 40 years! 

 C G Caroline Gerardo Barbeau 

 NMLS 324982 Loan Officer | 

M: (949) 784-9699 

 caroline.gerardo@swmc.com 

 20 Pacifica, Ste.460 Irvine, CA 92618 

 Branch NMLS 2061392 

Our products and services have no affiliation with or endorsement from any government agency or body. 

 For California residents. 

C G Caroline Gerardo Barbeau is licensed in CA. 

All products are subject to credit and property approval. 

Program terms and conditions are subject to change without prior notice. 

Other restrictions and limitations apply. 

The content here does not substitute for 

professional legal, securities, 

tax or accounting advice. 

Sun West Mortgage Company, Inc. (NMLS ID 3277) 

in California holds a Financing Law License (#6030119) 

[Loans made or arranged pursuant to a 

California Financing Law license], 

a California Financing Law Branch License 

(60DBO-125356) 

for the Irvine, CA Branch Office (NMLS ID 2061392)

 located at 20 Pacifica, Ste.460, Irvine, CA 92618, 

licensed by the California Department of Financial Protection and Innovation, Phone: (866) ASK-CORP, has a DRE Real Estate Corporation License Endorsement (#00793885), licensed by the California Department of Real Estate, Phone: (877) 373-4542. 

Please refer to https://www.swmc.com/disclaimer.php and www.nmlsconsumeraccess.org to see where Sun West Mortgage Company, Inc. (NMLS ID 3277) is a licensed lender and servicer. 

In all jurisdictions, the principal (Main) licensed location of Sun West Mortgage Company, Inc. is 6131 Orangethorpe Avenue, Suite 500, Buena Park, CA 90620, 

Phone: (800) 453-7880.

Get Your Mortgage Approved

 

A good number of home loan applications were denied for houses 

in 2019, according to the latest available data supplied by lenders to the

 federal government under the Home Mortgage Disclosure Act. 

Don’t be another number. Buy or refinance or enjoy your dream home.

 

Reasons for the denials:

• High debt-to-income ratio
• Poor credit history, low middle FICO or no credit
• Lack of collateral
• Incomplete applications, insufficient cash, unverifiable information, 
• spotty employment history, and all types of things 
• that I call let’s share confession together and fix those narratives
• Negative income or no income on IRS returns
• Cosigning for family members on large accounts
• Clouded title or DIY title transfers
• Job changes outside of prior career that don’t make sense
• Buying owner occupied down in value in 
• same neighborhood without explanation

Many rejected applicants narrowly missed qualifying for a home loan, 

while others received less-than-desirable mortgage offers. 

Fortunately, both groups may be eligible for better mortgage options. 

All it takes is a little help and a mortgage banker who cares.

 Having a mortgage banker with twenty nine years of experience 

and three billion dollars in closed loans makes all the difference. 

We are available to answer your questions seven days a week for free. 

I’m willing to vet your scenario or price check your offer. 

We can close a real estate transaction in twelve days if you are cooperative. 

Low rates, thousands of types of mortgages, no up front cost to shop…

Borrowers with low credit scores may not realize how much their financial decisions, 

credit score and interest rate factor into mortgage qualification. 

Fixing your credit increases the chances of obtaining a desirable mortgage loan.

 Even if we can’t make it perfect now we have programs with scores as low as 560

Creditxpert® Wayfinder™ evaluates hundreds of options, 

looking at the positive and negative factors influencing the borrower’s credit score to offer the best possible solutions.

Our Simulator proposes changes you can tweak could take to raise you credit score,

 such as adding or removing accounts and correcting errors.

After the borrower has completed the recommended actions, 

our Score  program can update credit bureau files and re-pull credit 

within as little as 72 hours.

• Delete misreported, inaccurate or outdated information
• Remove derogatory information and accounts reported in error
• Update accounts that are paid in full and closed
• Update the status of a collection, including balance or paid-in-full status
• Update accounts included in bankruptcy
• Remove late dates from tradelines

Let’s get you looking perfect on paper before you write the offer 

so you can buy that home in this competitive market. 

We are here to help.

(949) 784-9699

NMLS 324982

20 Pacifica #460 Irvine, California