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Loan
Programs
The
following is a partial list of programs offered by Maker Capital
Group LLC. For a complete list of the programs that we offer,
please contact us at 877.788.5558.
No
Down Payment
0%
down payment required and closing costs paid by the borrower
(seller can contribute up to 6% towards closing costs).
Conventional
Traditional
loan programs that usually require 5% down and offer competitive
interest rates. Documentation and fair-to-good credit are
necessary.
No
Income Verification
Loans
where your income is not requested or verified with as little as
5% down are stated income loans. There are several varieties of
the "no-doc" loan today. The type of loan that is best
suited for a particular borrower depends on that borrower's
situation. Some borrowers choose not to disclose employment,
income, or asset information, while others may be willing to
disclose employment and asset information but not income. Still
others might be willing to disclose income but select a program
that does not calculate debt-to-income ratios, allowing those
borrowers to exceed the traditional guidelines in order to qualify
for a larger mortgage amount. With all the different variations of
the no-doc loan, there is definitely a mortgage program for
today's non-conventional borrowers.
Credit
Problems
Troubled
credit? Bankruptcy? Been turned down somewhere else? We offer loan
programs for customers with credit problems.
106%
Purchase
0%
down payment required and closing costs can be financed up to 106%
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.
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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 PMI insurance or to keep your first mortgage under the FNMA/FHLMC
limit to avoid Jumbo rates. The borrower puts down a 5% down
payment and then finances a first mortgage up to the FNMA/FHLMC
limit and a second mortgage of up to 15% of the purchase price.
Other variations are 80/10/10 or 75/15/5.
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.
Challenged
Credit Loans
These
mortgages are for borrowers with less-than-perfect credit. They
can vary from slightly damaged credit to severely damaged.
Regardless of your situation, we have a mortgage that will get you
back on track.
High
Debt Ratio Loans
A
ratio of monthly bills to monthly income higher than 50% is
considered a high debt ratio. Loan programs are available for
borrowers in this situation, allowing them to finance the purchase
of a home or property.
Second
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.
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Construction
Loans
Building
a new home can be an exciting process, unless you get caught up in
a construction loan approval process that is 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.
Investor
Loans
Used
to finance 1-4 family properties that will be for investment with
as little as a 5% down payment or in some cases no down payment.
Aggressively priced, these programs have many variations,
including: No Doc, Limited Doc, and Full Doc. Program may not be
available in some states.
FHA
Mortgage
Backed
by the Department of Housing and Urban Development, this mortgage
offers the borrower the ability to put as little as 3% down
payment - and they can even finance "allowable" closing
costs. Seller can contribute up to 6% of the purchase price to the
buyer towards closing costs.
Flex
97% or Flex 100% or My Community 100%
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 660. With My Community it is a first time homebuyer
loan that has a minimum credit score of 550 for 100%, maximum of
$5,000 in collections, and sometimes allows higher Debt to Income
ratios.
VA
Mortgages
Backed
by the Veterans Administration and the federal government, it is
similar to FHA except that you have to be a qualified Veteran or
military person.
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.
These loans are what set Maker Capital Group apart from the pack.
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