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What Loan Is Right For You

Quick Mortgage 101 / PRMG

FHA



FHA is a government agency that was created in 1934 to help facilitate growth in loan opportunities, by allowing an alternative to purchase a home with as little as 3.5% down payment and less than perfect credit.

Highlights

  • As little as 3.5% down payment- funds can be a gift from a family member.
  • Less than perfect credit score.
  • Flexible debt to income ratios.
  • Seller contribution to closing cost is allowed.
Quick Mortgage 101 / PRMG

Conventional



We offer a variety of Fannie Mae conforming fixed rate mortgages.




Highlights

  • No upfront mortgage insurance.
  • No mortgage insurance with 20% down payment or Lender can pay for your monthly mortgage insurance.
  • Competitive interest rates.
  • Lower cost.
  • Allows for higher loan amounts.
Quick Mortgage 101 / PRMG

VA



In 1944 the US government created a military loan guarantee program to help qualified service member’s purchase a home.



Highlights

  • Zero down payment.
  • No Mortgage insurance.
  • Competitive interest rates.
  • Easy qualification criteria
Quick Mortgage 101 / PRMG

USDA



USDA loans provide low to moderate income borrowers affordable housing options, must meet certain eligibility guidelines.


Highlights

  • Zero down payment.
  • No cash reserves.
  • Finance closing cost.
Quick Mortgage 101 / PRMG

Jumbo



Discuss your financing options with one of our mortgage professionals.



Highlights

  • Owner Occupied & Second Home.
  • Loans from $548,250 up to 3 Millions.
  • Fully Amortizing 5/1 – 7/1 – 10/1 Arm.
Quick Mortgage 101 / PRMG

Reverse



HECM works like an annuity and can help you tap into the equity and enjoy a better quality of life through retirement.


Highlights

  • Take out your equity now.
  • Eliminate mortgage payments.
Quick Mortgage 101 / PRMG

TAX ID LOANS



We can make the American dream possible for anyone! Contrary to popular belief, it’s possible to get a mortgage without a social security number or legal status in the U.S. In fact, the U.S. is one of the only countries that allows non-citizens to obtain property. If you are interested in applying for an ITIN Loan, we can help you!


Highlights

  • Most Property Types Accepted
  • 12 Months Of Bank Statements, DIR 1 year taxes (Personal Or Business)
  • Gift Funds Allowed
  • Competitive Rates
  • Fast Turn Times
Quick Mortgage 101 / PRMG

BANK STATEMENT
MORTGAGE


Credit scores starting at 640
Up to 85% LTV, No MI

Angel Oak’s Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business.

Highlights

  • Loans up to $3 million with a minimum of $150,000
  • 12 or 24 months business or personal bank statements
  • Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
  • Purchase and cash-out or rate-term refinance
  • Owner-occupied, second homes, and non-owner occupied
  • 40 year fixed interest only available
  • Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)
  • Non-warrantable condos allowed
Quick Mortgage 101 / PRMG

FOREIGN NATIONAL


International credit report or letter of good standing with current financial institution. No income verification with loan amounts up to $2M.







Highlights

  • 1 to 4-unit properties.
  • Qualify on DSCR
  • No income verification
  • Non-Owner Occupied only
  • 5yr/7yr ARM & 30-year Fixed
  • 65% Max LTV Purchase
  • 60% Max LTV Refinance
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Quick Mortgage 101 / PRMG
Quick Mortgage 101 / PRMG

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