Program

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Conventional

640 minimum credit score required

• lowest rates available
• very fast underwriting (quicker closings)
• automated underwriting provides instant approvals
• LTV's up to 90% on purchase and refinance for owner occupied & second homes
• LTV's up to 80% for non owner occupied homes

• 640+ required for over 85% LTV
• Mortgage Insurance is normally higher than government loan programs
• Automated Underwriting is only options. More restrictive approval guidelines

FHA

640 minimum credit score required

• 96.5% LTV on purchase or no cash out refinance
• 95% LTV for cash out refinance
• Very low mortgage insurnace coverage
• 640+ credit for automated approvals
• Manual Underwriting - less restrictive credit requirements
• Very low 30 year fixed rates
• Seller can pay all closing costs
• Streamline refinance requires less documentation when refinancing FHA to FHA

• Requires mortgage insurance at all LTV's
• Only for owner occupied homes
• Can only have 1 FHA loan active at a time
• Full documentation only

VA

640 minimum credit score required

• Up to 102% financing
• No mortgage insurance
• Less restrictive credit guidelines
• Seller can pay all closing costs
• Streamlined refinance with less documenation when refinancing from VA to VA
• Low 30 year fixed interest rates

• Must be VA eligible
• Owner occupied homes only
• Can only have 1 VA loan active at a time
• Takes longer process than other loan programs

USDA Rural Loans

640 minimum credit score required

• 102% Loan to Value
• Higher debt to income allowances
• Low 30 year fixed linterest rates
• Closing costs can be included into loan or paid by seller
• True $0 down payment loan.

• Property must be in an eligible USDA location in Florida
• Income restrictions apply based on size of family
• Only loan in Florida that offers 100% financing for non military

Hard Money

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• No Income requirements
• No asset requirements
• No minimum credit scores required
• Up to 60% LTV on refinances and purchases
• Close in a matter of days

• Higher Interest Rates
• Lender typically charges more points

Commercial Loans

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• High LTV income producing purchase loans
• Low rates for income producing properties
• Bridge loansfor non income producing properties
• Low rates for commercial loans

• Loans typically take longer to close than residential
• Appraisal and title fees are typically required upfront

Rehab Loans

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• Finance purchase price and rehab expenses
• Fast closings
• Easy draw schedules
• Interest reserves. No payments required for first six months
• Incentives for repeat business

• Higher interest rates than conventional loans
• Typically upfront points financed into loan

• Loans above the conforming loan limits - over $417,000
• Full Documentation only

• Rates are higher than conforming rates

• Loans above the conforming loan limits

• Rates are higher than conforming rates

1st Time Home Buyers

640 minimum credit score required

• 100% financing
• No reserve requirements
• Gifts allowed

• Full Documentation Required

Foreign National Loan

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• No Doc Loans
• Stated Loans
• Loans up to $5M

• Interest rate are higher than conventional Financing

Manufactured Home Loans

*No longer offering 

• Singlewide & Doublwide okay
• 100% Purchase & 95% cashout refinance
• Stated Loans
• No minimum loan amount

• Lower rates if land is owned. Higher rates if property on rented land.
• 580+ credit for best terms

Lot Loans / Raw Land Loans

*No longer offering

• Land only purchases
• stated income available
• Interest only (for lower payments)

• 100% financing not available on land

No Doc Loans

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• No income requirments
• No asset requirements
• No employment requirements

• Higher Rates than traditional financing

Stated Income Loans

* $100,000 Min Loan Amount

* 40% Downpayment Min Req

• No ned to verify income or assets
• Interest only available
• 30-40 year fixed rates available

• must state income. Not a no doc loan
• Interest rates higher than conforming rates

• Full doc options
• Stated Income and No doc available
• 30 year fixed rates, Arms, Interst only available

• Same flexible credit standars as normal FHA loans
• Can be behindon mortgage payments
• Allows current lender to write down mortgage balance
• Allows 2nd liens to remain in place
• Combined LTV over 100% allowed
• Non US Citizens allowed
• Secure 30 year fixed loan

• Must refinance due to ARM adjusting
• Must be behind in payments within last 12 months
• Can only refinance loans that are not already FHA insured loans

• No Income | No Credit Requirements
• Get lump sum or payments over time

• Must be 62 or older
• Must be primary residence