7/02/2019

Easiest Way to Get a VA loan

short video of a hummingbird who I released from tomato cage



The Easiest Way to Get a VA Loan






  • Most recent 1 full month of pay stubs
  • Most recent 2 years of W2’s (Tax returns if self employed)
  • Cancelled Earnest Money Check to be credited at close
  • Source of funds for Earnest Money deposit in order to be credited at closing - bank statement and online bank printout with URL at bottom showing the funds cleared
  • bank statements all pages last month
  • Contact information for Home Owner’s Insurance (if you have USAA for auto I suggest you bundle with your car insurance)
  • Government Issued ID
other items which may be asked for if it applies to your situation:
Divorce decree
Bankruptcy Docket summary
Letters about financial situations

The process is paperwork and time consuming. Make pdf copies of your information, label them, and keep in a desktop folder. These items can also be brought in for a personal meeting or mailed or over-nighted to my team at 949 South Coast Drive #240 Costa Mesa CA 92626. Don't send your only copy.
Talk about your goals and the best time, and method of communication to reach you. Are you a texter? phone calls early in the morning? Please let us know how best to reach you. 
With zero down payment options the VA loan is a great way to purchase a home, and perhaps the best benefit the US government gives you.


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6/26/2019

Don't Be Scared to Close On a Dream Home With Niche Mortgages






Self Employed Alternative Income documentation loan

·         10% down to $1,000,000.00 loan amount
·         Only 24 Months Seasoning from:
o    Foreclosure
o    Short Sale
o    Bankruptcy
·         No 4506-T’s
·         Interest Only for Self Employed Borrowers
·         12 Months Bank Statements used for Income
·         Maximum $3,000,000 loan amount
·         Qualify with only One Year of W2's or Tax Returns
·         Investment properties qualify on gross rental income



Loans for unique or non-conforming properties
·         Mixed use residential  / commercial
·         Non warrantable condos
·         Manufactured homes on permanent foundation and land
·         Bed and breakfast
·         5- 35 units
·         Small light industrial
·         Owner operator commercial
·         Renovation loans for fixer property
·         Fix and keep loans
·         Fix and Flip loan

Other out of the box loans
 Cross collateralization - use two properties on one loan
Buying down in value without current residence not yet sold
Buying up in value with equity in current residence not yet sold
Clients who have not yet closed but want to buy now
Delayed purchase to refinance right after cash close

Foreign national
Foreign National Programs

·         Up to 75% Loan to Value
·         Loan Amounts from $200,000 to $3,000,000
·         Second Homes & Investment
·         All property types including non-warrantable condos
·         Social Security or ITIN numbers not required
·         No US credit
·         VISA or travel authorization card
·         Reserves can remain abroad
·         Income from sanctioned countries       administered by OFAC is not allowed
·         Contact your Account Executive for details

  
Full Doc Jumbo and Conforming Not Chase, Wells Fargo, Bank of America rules

·  Owner-occupied, 2nd homes, and investment properties
·  Loan Amounts from $200,000 to $3,000,000
·  90% Loan to Value available
·  Debt to Income ratio up to 50%
·  1 Year Tax Return for qualifying
·  Credit Scores as low as 620
·  No MI on LTV’s >80%
·  Interest Only up to 85%
·  Single family, townhomes, condos, 2-4 units
·  Non-warrantable condos considered
·  No limit on number of properties financed
·  3 years seasoning for foreclosure, short sale or deed-in-lieu
·  3 years seasoning for bankruptcy



© 2019  is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025. Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending. AZ license #0903132. Offer of credit is subject to approval. To verify our complete list of state licenses


CMG Financial 
949 South Coast Drive Suite 240 Costa Mesa CA 92626
C G Barbeau  NMLS 324982
(949) 784-9699



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6/25/2019

Bees and Epis in my garden



 


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6/24/2019

Niche Loan Mortages




Video of Kern County California Bird Sanctuary by Caroline Gerardo to enjoy while you read the mortgage information below

epi
·         12 or 24 month Personal bank statements
·         12 or 24 month Business bank statements
·         No tax returns required
·         Owner-occupied, 2nd homes, and investment properties
·         Loan Amounts from $200,000 to $3,000,000
·         90% LTV available
·         DTI up to 50%
·         Credit Scores as low as 620
·         No MI on LTV’s >80%
·         Interest Only up to 85%
·         SFRs, townhomes, condos, 2-4 units
·         Non-warrantable condos considered
·         No limit on number of properties financed
·         3 years seasoning for foreclosure, short sale or deed-in-lieu
·         3 years seasoning for bankruptcy
Foreign National
  • Up to 75% LTV
  • Loan Amounts from $200,000 to $3,000,000
  • Second Homes & Investment
  • All property types including non-warrantable condos
  • Social Security or ITIN numbers not required
  • No US credit
  • VISA or travel authorization card
  • Reserves can remain abroad

True Stated Income No Assets & Stated Income Verified Asset Loans are Available For:

  • Non Owner Occupied 1 - 4 Unit Properties;
  • Business Purpose Owner Occupied Loans
  • Business Purpose Non-Owner Occupied, NO TRID Requirement
  • Foreign National Loans
  • Fix & Keep Purchases
  • Mixed-Use (Res) Loans
  • Non-Warrantable Condos
  • Condotels

Program includes:

  • 5/1 Arm or 7/1 Arm - 30yr Amortized Payment
  • 40yr Term / 10yr IO Fixed, then 30yr Fixed or ARM


Qualify Your Borrowers with the
ONE Month Bank Statement Program

Requirements:

  • Borrower must be self-employed or 1099
  • Most recent personal account bank statement
  • Income is ATTESTED to and DECLARED
  • 650 minimum middle credit score
  • 25% Down or more
  • Maximum loan amount of $5 mil
  • Reserve funds are not required
  • First time home buyers qualify. Contact your Account Executive for details.

Restrictions:

  • SFR / Condo / Townhouse Property types only
  • No charge-offs, collections or tax liens
  • Owner occupied only
  • U.S. residents only

Bank Statements for Income Qualification Loan Amounts to $5 million

Program Details:

  • Up to 90% LTV
  • 100% of deposits for personal statements
  • 50% of deposits for business statements
  • Don't look at withdrawals
  • Don't look at overdrafts
  • No P&L
  • No 3rd party expense statements for income calculation
  • < 70% LTV can count transfers
  • 2 years from foreclosure, short sale or bankruptcy
  • Interest only available

Requirements:

  • 12 months of statements
  • Owner occupied w/ 700 FICO to 90%, 650 FICO to 85%
  • Self-employed and 1099 borrowers only

Bank Statement Loans • Foreign Nationals • Second Chance Loans We also have a variety of customized products: • FHA/VA • First Time Homebuyer • Jumbo and Conforming Loans • Investment Properties (1-4 units) • Construction Loans • Second/Vacation Homes 
NICHE PRODUCTS call and talk about your deal
The Deal Desk is open always.

Some niche products require CPA letters, some do not.
Some niche products require Profit and of Loss Year to Date


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