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Five Stars Mortgage

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      • Cash Out Refinance
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Loan Programs

    Program           Benefits           Requirements
Conventional Loans

640 minimum credit score required

  • lowest rates available
  • very fast underwriting (quicker closings)
  • automated underwriting provides instant approvals
  • LTV’s up to 95% on purchase and refinance for owner-occupied & second homes
  • LTV’s up to 80% for non-owner occupied homes
  • 680+ required for over 90% LTV
  • Mortgage Insurance required over 80% loan to value.
  • Full documentation only
FHA Loans

620 minimum credit score required

  • 96.5% LTV on purchase or no cash out refinance
  • 95% LTV for cash out refinance
  • Low mortgage insurance coverage
  • 620+ credit for automated approvals
  • Manual Underwriting – less restrictive credit requirements
  • Very low 30-year fixed rates
  • Seller can pay all closing costs
  • FHA 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 Mortgage

620 minimum credit score required

  • Up to 100% financing
  • No mortgage insurance
  • Less restrictive credit guidelines
  • The seller can pay all closing costs
  • Streamlined refinance with less documentation when refinancing from VA to VA
  • 100% LTV Cash Out Refinance
  • Low 30-year fixed interest rates
  • Must be VA eligible
  • VA Jumbo loans are available
  • Owner-occupied homes only
  • Can only have 1 VA loan active at a time
USDA Rural Loans

620 minimum credit score required

  • 101% Loan to Value
  • Higher debt to income allowances
  • Low 30 year fixed interest rates
  • Closing costs can be included in the loan or paid by the seller
  • True $0 down payment loan
  • Great USDA refinance options
  • The property must be in an eligible USDA rural location
  • Income restrictions apply based on the size of family and county.
  • Only government loan in the nation that offers 100% financing for non-military buyers
Jumbo Loans
  • Loans above the conforming loan limits – over $726,200
  • Many 5% Down and 10% Down payment options.
  • 95% Jumbo Loans  – $1.5-2.0 mil.
  • 90% Jumbo Loans – $3.0 mil.
  • Purchase and Rate/Term Refi
  • 700 credit score required
  • No PMI – mortgage insurance. Single loan and combo “piggyback” loan options
  • Full Documentation
  • Fixed rates and ARM available
  • Cash-out refi options up to 90% LTV.
  • Special VA Jumbo Loans for eligible Vets
Super Jumbo Loans
  • Loans above the conforming loan limits – over 3 million
  • 720 credit score needed
  • Full Documentation
  • Fixed rates and ARM
DSCR Investor Loans

620 minimum credit score required

  • 80% financing on many programs
  • DSCR down to 0.75%
  • Min reserve requirements
  • Gifts allowed
  • No income documentation. Great for self-employed investors.
  • SFR, Condo, and multi-units (8) permitted
  • Close in a little as two weeks
  • No income, DTI, or Employment
 

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Five Stars is now operated and a web asset of Coast2Coast Mortgage NMLS# 376205
9050 Cypress Green Dr. Suite #403 Jacksonville, FL 32256

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