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WE
HAVE DIRECT ACCESS TO OVER 5,000+ LOAN PROGRAMS:
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| CONVENTIONAL -
Conventional loans are mortgages that are not covered by any
government program of insurance or guarantee. Such loans may
be eligible for purchase by the major secondary market
agencies Fannie Mae and Freddie Mac which offer standardized
underwriting guidelines for conforming loan amounts up to
$322,700. These loans can carry fixed or variable (ARM)
rates and a variety of repayment terms that can be tailored
to your individual needs. Down payment requirements may be
as little as 5%, although loans with less than 20% down
require mortgage insurance. Generally, these loans do not
have prepayment penalties. back to top |
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MTA, COFI AND
LIBOR FLEX PAY ARM PROGRAMS -Lowest
start rates available -- some as low as 1.25%!! These
programs allow you the flexibility of choosing 4 different
payment options each month (1) Minimum Payment 1.25% (2)
Interest Only (3) 30-Year Full Principal and Interest
Payment (4) 15-Year Full Principal and Interest Payment.
Usually you are able to obtain the loan without documenting
your income, assets, or source of down payment. This makes
this loan great for people self-employed! Since the payments
are lower, you are able to qualify for a higher priced home.
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| NO
INCOME & ASSET VERIFICATION - Means
we don't verify
your income or assets, we don't ask for a lot of paper work,
we just GET THE JOB DONE! As little as 0% down allowed, Less
than perfect credit is accepted, Reduced paperwork, No
income or asset verification required, Fixed interest rates,
No mortgage insurance option is available, 1 - 4 Family
homes, Owner-occupied, Second or Investment homes permitted
and Loan amounts available up to $650,000.
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| NO DOWN PAYMENT
- Addressing the goal of a higher rate of home
ownership, the mortgage industry as a whole has made several
additional offerings in the past two years to serve an
important segment of the population, those with the desire
to purchase a home without a down payment.
With that in mind, Freestand Financial Holding Corp has compiled numerous 100% programs and have succeeded in creating the most comprehensive offering of loan products. Our program targets:
80/20: The 80/20 option is one of the choices in our 100% financing program. Also known as a "piggy-backed second", this program allows for an 80% first mortgage and a 20% second mortgage. The 80/20 option totals to 100% financing. Our 80/20 option eliminates both the out-of-pocket down payment and the mortgage insurance expense. There are no out-of-pocket expenses under our 100% financing program because the nature of this program is to provide 100% of the needed finances. In addition, the remaining 20% avoids the need to purchase mortgage insurance. 103%: This option is the last option of our 100% financing program. Under this loan option, up to 3% of closing costs can be financed for a total loan to value (LTV) ration of 103%. Under this option, your closing costs are financed into your loan. Closing costs are not depleted from your loan amount, and you avoid additional funding charges. This option is ideal for borrowers who do not have substantial savings and need help with closing costs. This option targets all borrowers looking for excess cash to become more financially secure. If you want to consolidate, 103% financing may be a good option for you. back to top |
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| CREDIT PROBLEMS -
This may be your golden opportunity to re-establish your
credit...recover from overwhelming debt...or consolidate
your high-interest debt into one easy, low-interest monthly
payment. Because you may qualify for a mortgage at an
affordable rate! We specialize in helping homeowners repair
their credit... putting them on the road to recovery. Even
if you've been turned down for a home loan before - or don't
think you can qualify - we can help!
Our professional staff works with you! Our mortgage
programs include a variety of financing
options...competitive interest rates...personalized
service... We realize that everyone is different. That's why
we treat you like an individual - on a one-to-one basis. And
it's why our Mortgage Professionals work with you every step
of the way. Because everyone has different incomes, asset
bases and credit histories. You may be able to qualify for
our loan programs even if you fall into any of the
categories below: 1, 3, 5, 7 or 10 yr ARM PROGRAMS - Excellent program for those who know they will not live in their home for a long period of time. These programs provides a low start rate which allows a borrower to put more money towards the principal of a loan to build equity. Once the rate becomes adjustable, there is a "rate cap" in place (rate can't go over a certain amount). back to top |
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103% PURCHASE - 0% Down payment required and closing costs can be financed up to 103% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits. back to top 203K FHA MORTGAGE Same as FHA above but with the ability to finance home improvements that are needed. One mortgage is given based on the value plus improvements up to 115% of the future value. These improvements must be over $5000 and can be for a new kitchen, new bathroom, to add a garage or to structurally improve the property. back to top |
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| 80/15/5 - This
is a loan which carries a second mortgage for up to 15% of
the purchase price of the property. It is usually used when
wishing to avoid Mortgage Insurance. The borrower puts down
a 5% down payment and then finances a first mortgage and a
second mortgage of up to 15% of the purchase price. Other
variations are 80/10/10 or 75/15/5. back to
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| HIGH
DEBT RATIO LOANS - Borrowers having the ratio of
their monthly bills to their monthly income higher than 50%
is considered a high debt ratio. Loan programs are
available for these borrowers, allowing them to finance the
purchase of a home or property. back to top |
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| JUMBO LOANS - Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation. Cash out and No cash out refinance are allowable. Single family detached, Condo's, PUD's and single-family second homes can be financed with no prepayment penalty. back to top CONSTRUCTION LOANS - Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or traditional ARM products. back to top |
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| FLEX 97% -
Similar to FHA but without maximum mortgage amount
limitations. Must be a single family, owner occupied home
and borrower must have a credit score of over 680.
back to top 2ND MORTGAGE LOANS Subordinate to the first mortgage these loans offer the borrower the ability to get money for home improvement, debt consolidation or many other reasons without disturbing their first mortgage. Convenient when you have a low interest first mortgage. back to top |
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| A- THRU D LOANS These mortgages are for the credit challenged. They can vary from slightly damaged credit to severely damaged. Whatever the situation we have a mortgage that will get you back on track. back to top |
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| INVESTOR LOANS Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. back to top |
