The lending landscape has lightened up, and with it new programs and opportunities have become available. Here are some niches that I can assist with, along with a brief explanation of the program.
- Future Income Program – allows a borrower to close a loan 120 days prior to starting a new job, and using income from the job for qualifying. Documentation needed: offer letter for employment must be non-contingent, and borrower must start employment within 120 days of the Note date.
- Lender-paid temporary interest rate buydown program – Reduces your interest rate for the 1st 24 months of the loan. During the first year of the loan, your monthly payment will be calculated by reducing the interest rate by 1.5%. During the second year of the loan, your payment will be calculated by reducing the interest rate by 0.5%.
- Buying a New Home without yet selling your current – If you are in contract to sell your current home, and the buyer has removed their finance contingency, we do not need to count your existing housing payment against you.
- Business Entity Loans — Title may be taken in the name of an LLC, corporation, partnership or Trust
- Restricted Stock Units — RSUs may be used for qualifying if they have been reported as taxable income
- Bank statement program – for self-employed individuals, lender will analyze business bank statements for qualifying, not tax returns.
Each of these has limitations and requirements, so contact me for specific details.