Niche Purchase Programs
Programs – Residential |
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1. FHA + FHA Jumbo's – aka. Super Conforming |
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2. VA – True 100% financing and VA – Jumbos up to $650,000 |
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3. CALSTRS – Offering 80/17 Purchase Program |
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LOAN SIZE |
LTV IST MORTGAGE |
LTV 2ND MORTGAGE |
MAXIMUM LOAN AMT 1ST MORTGAGE |
MAXIMUM LOAN AMT 2ND MORTGAGE |
MAXIMUM LOAN AMOUNT COMBINED |
MAXIMUM PURCHASE PRICE |
Conforming |
80% |
17% |
$417,000 |
$88,612 |
$505,612 |
$521,250 |
Non-conforming |
80% |
17% |
$537,082 |
$113,918 |
$650,000 |
$670,103 |
• 1% of down payment must come from borrower's own funds• Up to 2% of down payment from gift funds• No first time homebuyer restrictions• 2 months reserves required• SFR, Condo and PUD• Applicant may not own other properties |
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Programs – Commercial |
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Small Loan Programs – $500K to $5 Million |
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• Apartments, Income and Commercial Properties |
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• Fixed Interest Rate Term 5, 10 & 15 yrs |
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