PRIME JUMBO
Our Prime Jumbo loan is a financing option for borrowers who intend to purchase a home outside of GSE guidelines. Borrowers who cannot qualify for an agency loan because the price of their home exceeds allowable limits can secure financing with a Non-QM loan.
Designed to finance luxury properties and homes in competitive real estate markets, Prime Jumbo mortgages come with unique underwriting requirements and tax implications, so it’s best to consult with one of our leaders in the field.
Program highlights:
- FICO 660
- Up to 80.00% HCLTV
- 15-Year & 30-Year fixed up to $3 million
- Cash out up to 80% HCLTV
- Manual UW for over $2 million
- DU Approve/Ineligible
- No mortgage Insurance is required
- Primary, second home, and investment properties are allowed
- Purchase, refinance, and cash-out refinance
- Delayed financing is available up to 180 days
- No overlays or reserves, credit, and tradelines - per DU
- Income as per DU
HARDMONEY
Not every creditworthy borrower can sail through the approval process for a qualified mortgage and your clients may want to invest in real estate and need short-term financing quickly. Our Hardmoney Loans are the perfect option: no income documentation, income verification, or asset seasoning are required, which means faster turn times.
We offers Hardmoney loans for investment properties only. Hardmoney loans are available for 1-4 unit properties, condo hotels, offices, multi-family, and properties under development.
Program highlights:
- YES for closings in LLC
- FICO 580
- 70% CLTV
- Interest Only
- No Income on 1003
- Foreign National allowed Refer to guidelines and matrix for prepayment penalty
- Fast closing
- No asset seasoning
- Eligible for Non-Permanent Residents
FOREIGN NATIONALS
MLG Home Financial is a leader in working with people abroad who want to buy or refinance their property located in the United States. Our Foreign National program has a flexible, alternative documentation process with realistic guidelines which helps more borrowers to qualify.
Our primary focus is to make sure that any borrower who comes through our door has an option to receive financing.
Program highlights:
- YES to Foreigners with visas
- No score or FICO 620
- Up to 70% CLTV
- Loan amounts up to $2 million
- Cash-out allowed
- DSCR as low as o
- CPA Letter for last 2 years & Year-to-date
- One bank reference letter
- Overseas assets allowed as reserves
- Gift funds allowe
ITIN RESIDENTS
There is no limit on the number of other properties borrowers may currently have financed. Second Home transactions require 2 months of additional reserves for each financed property. Mortgage Limits may not exceed $5M aggregate with a maximum of five loans for each individual borrower
When qualifying income is equal for all borrowers the highest representative score is used to determine the overall loan qualifying score.
When qualifying income is equal for all borrowers the highest representative score is used to determine the overall loan qualifying score.
Program highlights:
- Up to 80% LTV
- 50% Maximum DTI
- Valid Government Photo and ITIN Card or IRS Letter
- 5% Minimum Down from Borrower. Gift Funds Eligible.
- Doc Type: Full Doc, Bank Statements (12 months) or P&L Only (12 months)
DOWN PAYMENT ASSISTANT
NHF Program is designed to increase homeownership opportunities for low-to-moderate income individuals and families in nationwide.
The Chenoa DPA product is offered by a subsection of Cedar Band Corporation, a federal corporation created by the US Government though
the Bureau of Indian Affairs for the Cedar Band of Paiutes of the Paiute Indian Tribe of Utah, a constituent band of the Paiute Indian Tribe of
Utah, a Federally recognized Native American Tribe as contemplated by 25 U.S.C. §477 and 48 Stat. 984 under the Indian Reorganization Act
of 1934 (“IRA”)
Program highlights:
- 30 year Fixed
- Up to 2.00% - Borrower Paid Compensation only
- DPA Forgivable
- DPA Repayable
- Approve/Eligible (FHA/USDA)
- Manual UW not allowed
