Loan Promotions and Special Offers

Here are various promotions and special offers from our investors and lenders. Please see the notes at the bottom of the page.
A note about these descriptions & programs  -  Lending glossary

Investor: 154100% financing

Prefer to put nothing down? We have THREE nothing-down loans including one up to 105% for qualified borrowers.
* Must meet DTI requirements for maximum LTV.
* We now have a 100% program with NO MORTGAGE INSURANCE!

(last reviewed: 2008-05-30)

Investor: 250100% financing (1st-time buyer NOT required!)

* 100% financing with NO MORTGAGE INSURANCE (big savings on monthly payment!)
* 30-year fixed rate loan
* Requires $500 from borrower (so, almost 100% financing :-)
* Any buyer (first-time or not)
* Full documentation required (self-employed okay; non-traditional credit also okay)
* Primary residence only (no investors)
* Minimum credit score 620
* If you have any co-borrowers, they must also live in the property

(last reviewed: 2008-05-30)

Investor: 153100%, Below market rate for Low- or Moderate-income First-time buyer

Rates .25~.50 below market for qualifying first-time buyers whose income meets restriction guidelines. Income limitations apply based on size of household.

* 30-year fixed, 35-year fixed, or 40-year fixed rate loan
* Interest-only option available
* Mortgage insurance required if loan amount is greater than 80% of the purchase price
* Cash reserves required: 1 month of payment
* Purchases only (cannot use for refinances)
* Minimum credit score 620
* Gift funds okay

* Purchase price limits apply (Example: in Santa Clara county, price cannot exceed $693,370 for existing re-sale homes and $847,453 for newly-built homes)

* Household income cannot exceed:

LOW INCOME limits:

People living       New
at the property: construction Resale
1-2 people $87,466 $74,971
3 + people $100,586 $86,217

MODERATE income:
1-2 people  $118,704  
3 + people $136,510

(limits current as of March 19, 2008)

(last reviewed: 2008-05-30)

Investor: 15130-year fixed rate with I/O option for 10 years

A newer loan we have is the traditional 30-year fixed but now with interest-only payments for the first 10 years. Loan amounts to $3.0 million. Flexible qualifying criteria.

Investor: 154540+ FICO

Don't let less-than-perfect credit stop you from buying today. With a credit score of 540 or greater, we have loans! For owner-occupied and investment properties. Multi-unit properties okay.

Investor: 203Borrow down payment AND get new purchase loan in one loan!

Finance the down payment on your new home and buy the new home with a single loan! Unlike most equity lines and other conventional financing, we lend on your current home even if it's listed for sale. This loan is Not contingent upon selling!

Depending on the program chosen, borrowing against your current residence may be less expensive than a typical equity line or bridge loan.

Loan products available under this program are our three year fixed, five year fixed, and Option Arm loans These loans are excellent programs which enable you to purchase right away without being contingent on the sale of your current residence!

Investor: 159City of Campbell Deferred Loan Program

* zero-interest, $25,000 deferred payment loan for down-payment or closing costs
* Principle does not have to be repaid until:
- Maturity of primary loan
- Sale of home
- Refinance
* Equity share may be added to original principle if the buyer sells the property to a non-qualified first-time buyer.
* Cannot have owned a home in Santa Clara County in last 12 months
* Property must be located in the city of Campbell
* Property must be used as primary residence
* No purchase price limits
* Household income cannot exceed:
1 person -- $84,988
2 persons-- $97,060
3 persons-- $109,193
4 + persons-$121,325

Investor: 159City of San Jose Teachers Homebuyer Program

* Zero-interest, deferred payment loan of $40,000 to $65,000 depening on income.
* Does not have to be repaid until transfer of title or in 30 years. * Subject to equity share if home is sold within 45 years or the loan is prepaid while continuing to own the home.
* Available to classroom teachers employed full-time at a public K-12 school located in San Jose or a majority of students live in San Jose.
* Home must be located in the city of San Jose
* Purchase price cannot exceed $650,000

Household income cannot exceed:

          Moderate     Low
income income
1 person $88,600 $66,460
2 people $101,300 $75,960
3 people $113,950 $84,450
4 people $126,600 $94,950

Investor: 155Co-ops (stock co-operative ownership)

Loans for co-op owned complexes in Santa Clara County! 1.5 point charge to borrower.

Investor: 273FHA Under 620 FICO - Great Rates!

30yr Fixed or 5/1 ARM
• Max DTI of 31/43%
• Can stretch ratios to 40/46 with 3 strong compensating factors from 4155.1, page 4-F-6
• Zero late pays in last 12 months
• No NEW Collections in the last 12 months
• PMC VOR or 12 months cancelled rent checks
• Non-occupant co-signers must be related as parents, children, or siblings. Proof of relationship required. Other blood relatives will only be allowed if occupant’s DTI under 50%
• Homebuyer education certificate (online at MGIC)
• DU Approve/Eligible
• Purchase, R/T Refi, and C/O Refi
• Down Payment Assitance available in CA to 99.5% CLTV for eligible borrowers - ask me how!
• FHA Manufactured Homes
• Max 2 acres
• Max 90% LTV Purchase & R/T Refi
• Max 70% LTV Cash Out Refi
• No Flood Zones
• 2 comps within 90 days required, max 5 miles
• Additional Overlays: click here
• Alternative credit OK for No Score Borrowers
• No score borrowers must have zero derogs for entire credit history

Investor: 159First-time buyer

- Offers $6500 towards down payment or closing costs in the form of a zero interest, deferred loan.
- Cannot have owned a home in Santa Clara County in the last 1 year
- Purchase price can't exceed $550,000
- Household income cannot exceed:
1 person $88,600
2 people $101,300
3 people $113,950
4 people $126,600
5 people $136,750
6 people $146,850
7 people $157,000
8 people $167,100

Investor: 158First-time buyer discount, Moderate Income

* Purchase and Refinance (rate/term refinance) transactions
* 0-3% down payment (minimum of $500 from occupying applicant's own funds)
* 30 or 40 year fixed loan with no Private Mortgage Insurance
* 30/10 with 10 year interest-only
* Property must be owner-occupied primary residence
* No minimum credit score
* Cannot have more than two 30-day delinquencies in the past 12 months
* Bankruptcy-two years must have passed and good credit re-established
* Discounted rate (.75 off the interest rate)!
* US Citizens, Permanent resident aliens (except diplomatic and temporary business visas)
* Cannot own any other real estate at the time of loan closing unless the property is inherited and is not investment property.
* Nonoccupying co-applicants are allowed. Must be immediate family members.
* Maximum sales price limits (varies by county)
California- 1 unit-$500,000.00 (condos, single family residences)
* Income Limits in California 2006: Santa Cruz county $105,140 Santa Clara county $135,940 (must be less than or equal to 140% of the median income)
* Undocumented income allowed up to $1200
* Must attend meeting prior to having the loan submitted

Investor: 153High Cost-Area Home Purchase Assistance Program

* $7500 loan for first-time buyers
* NO PAYMENTS until you sell or refinance the property!
* 6.75% simple interest (lower than most other second loan programs)
* Available in these counties:

BAY AREA: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo,
Solano, Sonoma(not available in Santa Clara county)

CENTRAL COAST: Monterey, San Benito, San Luis Obispo, Santa Barbara, Santa Cruz, Ventura

SOUTHERN COAST: Los Angeles (except Palmdale/Lancaster area), Orange

* Automatic approval if you buy in an approved county
* Can even be combined with some of our other down payment assistance programs
* Purchase price limit and Income limits apply

Investor: 153Homebuyers Downpayment Assistance Program

Loan for up to 3% of the purchase price which you can use for down payment and closing costs.
* Interest rate is just 3% FIXED for 30 years!
* NO PAYMENTS due until you sell or refinance the property!
* Must meet the same purchase price limits and program guidelines for the our first-time buyer mortgage loan program
* The borrower(s) maximum income cannot exceed the following limits based on the number of people who will live in the property:
1 person -- $88,600
2 persons--$101,300
3 persons-- $113,950
4 persons-$126,600
5 persons -- $136, 700
6 persons -- $146, 900
7 persons -- $157,000
8 + persons -$167,100
(in other words, if there are TWO borrowers on the loan and THREE people living at the house, the income of the borrowers cannot exceed $113,950)

(limits current as of March 19, 2008)

Investor: 161Long-term lock

We can lock in current rates for up to NINE MONTHS into the future! You pay a small fee upfront and the fee is paid back to you when you close on your loan. But wait- there's more! If rates are lower in the future, we have a rate "float down" to current rates. Wow! Call for details.

Investor: 150Long-term rate lock

Lock your loan for 1 year, 18 months, or even 2 years forward!

Non-refundable lock fees:
90 ~ 180 days = 0.500% of loan amount
270 ~ 360 days = 1.000%
540 ~ 720 days = 1.500%

Loans that do not close are NOT eligible for fee refund.

Investor: 150No cost Refinance

to 100% LTV at NO COST. Special pricing bonus of minus .25 points. Limited-time offer but expiration date not set.

Investor: 159Santa Clara County 40K Program

* up to $40,000 in a deferred payment loan at 2% simple interest. May be combined with CalHFA and other local city programs.
* Principle does not have to be repaid until:
- Maturity of primary loan
- Sale of home
- Refinance
* Cannot have owned a home in the last 3 years
* Property must be located in the Santa Clara County but not in the City of San Jose
* Purchase price cannot exceed $570,000
* Must live in the property
* Household income cannot exceed:
1 person $59,400
2 people $67,900
3 people $76,400,
4 people $184,900
5 people $91,650
6 people $98,450

Investor: 151Short-term and Intermediate ARMS

1/1, 3/1, 5/6, 5/1, 7/1, 10/1 and 10/6 adjustable rate mortgages amortized over 30 years. Interest-only option available at no cost.

Investor: 153Teacher Assistance grant program

* Loan amount of $15,000 (in high cost counties) or 3% of the sales price
* For teachers, administrators, classified employees, and staff members
* Must work at a High Priority School (API rank 1~5 out of 10)
* 0% INTEREST if teacher continues to work at school for 3 years
* NO PAYMENTS until you sell or refinance the property!
* Must be first-time homebuyer

(last reviewed: 2008-05-30)

Investor: 156Under 500 FICO


Investor: 160Use your investments as collateral

Have stocks you don't want to sell? I have a pledged assets loan good for purchase, refinance, or cash out that goes to $5 million with zero down.

Primary residence, second home, investment property okay! SFR, condo, PUD okay! 1-4 units okay!

About the descriptions: Sorry for the jargon and abbreviations in the descriptions. We take these descriptions directly from the numerous daily program updates we receive from our investors and lenders. To make the info available as quickly and easily as possible, we post the updates here with minimal editing. Since the updates are written for us, not the general public, they contain a lot of industry jargon and codes. If you see something of interest, just contact us and we’ll review it with you in plain English. Also, here’s a glossary we’ve put together describing common terms and abbreviations: View glossary.

About these programs: All programs shown are real programs available when listed. Of course, the requirements to qualify, and the rates and terms offered are dependent upon your financial profile, and all programs are subject to change or withdrawal by our investors/lenders at any time without notice. Please contact us for additional details on any program.

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