Purchase Loan Benefits

• May be used to purchase Single Family Home, Townhouse, Condo or 2--4 Unit property.
  
• Down payment may be as low as 3% of the sale price.
• “Declining markets” not as problematic as with conventional financing.
• Family members may pay down payment, all closing costs, prepaid expenses and discount points.
• Seller may pay up to 6% towards buyer’s closing costs, prepaid expenses and discount points.
• Less than perfect credit OK. Allowed two years after a bankruptcy and three years after a foreclosure.
• Non-occupant co-borrower can help borrower to qualify
• No reserves required on 1-2 units and 3 month reserves required on 3-4 units
• Apply online and receive automated loan approval.

Refinance Loan Benefits

• Cash out refinance up to 95% of home value on single family homes, condos, townhomes and 2-unit properties.
• Cash out refinance up to 85% of home value on 3-4 unit properties.
• “Declining markets” not as problematic as with conventional financing.
• No reserves required
• Less than perfect credit OK
• Apply online and receive automated loan approval.