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Stated Income Home Equity Line of Credit - DOC

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					HECTOR A. SAENZ
MTG BROKER AT LARGE
103% LTV
PURCHASES ONLY
FIRST TIME BUYERS OK
NEED 641+ CREDIT SCORE
LOAN RANGE $ 75,000 / MAX. LOAN $ 700,000
12 BANK STATEMENTS CAN BE USED AS FULL DOC
FOR 1099 EARNERS OR SELF EMPLOYED BORROWERS

One unit owner occupied only
Debt ratio up to 50% under fixed or 2/28 adjustable
Seller contributions up to 3% for non-recurring closing cost
One (1) credit trade with 24 months good payment history required
Plus two (2) credits with 6 months of current or previous payment history
No MI - No cash reserves - No VOR - No seasoning or sourcing of funds to close

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score

FIXED OR ADJUSTABLES RATES AVAILABLE
QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                         1
HECTOR A. SAENZ SR.
MORTGAGE BKR.

FIRST TIME HOME BUYERS
NEED NO DOWN PAYMENT
UP TO 55% DEBT RATIOS!!!
MIN. LOAN $ 75,000 / MAX. LOAN $ 700,000
12 BANK STATEMENTS CAN BE USED AS FULL DOC
FOR 1099 EARNERS OR SELF EMPLOYED BORROWERS

Pay less than rent with interest only and/or no escrows

All type of properties accepted, except 3/4 units
Debt ratio up to 55% under fixed or 2/28 ARM programs
Seller contributions up to 6% for non-recurring closing cost
One (1) credit trade with 24 months good payment history required
Plus two (2) credits with 6 months of current or previous payment history
No MI - No cash reserves - No VOR - No seasoning or sourcing of funds to close

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score
100% LTV 621 Score
100% LTV 601 Score

2 YRS SAME LINE OF WORK - BUSINESS - PROFESSION
QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.



                                         2
HECTOR A. SAENZ SR.
MORTGAGE BKR.

100% CLTV FULL DOC
80% FIRST MORTGAGE
20% SECOND MORTGAGE
AVAILABLE UNDER 2/28 PROGRAMS ONLY
PRIMARY RESIDENCE LOANS UP TO ONE MILLION
NO MORTGAGE OR RENT LATE PAYMENTS WITHIN LAST YEAR

One (1) opened credit trade with good 24 months payment history
Plus another two (2) credit trades with 12 months history paid as agreed
Minimum two (2) Yrs in the same line of work, business or profession required

CREDIT 80% LTV 20% LTV
1ST MTGE 2nd MTGE
681 Score 6.400% 9.250%
661 Score 6.500% 9.500%
641 Score 6.600% 10.000%
621 Score 6.700% 10.500%
601 Score 6.800% 11.050%
581 Score 6.900% 11.600%

Disclosed rates are based on purchase of a detached single family home
for primary residence and loan amounts between $ 125,000 and $ 500,000 only
Any option different than the described above it may require adjustments to rate

Contact us for current rates
QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                            3
HECTOR A. SAENZ SR.
MORTGAGE BKR.

100% CLTV STATED
80% FIRST MORTGAGE
20% SECOND MORTGAGE
AVAILABLE UNDER 2/28 PROGRAMS UP TO $ 700,000
INCOME MUST BE DISCLOSED BUT IT’S NOT VERIFIED
NO MORTGAGE OR RENT LATE PAYMENTS WITHIN LAST YEAR

One (1) opened credit trade with good 24 months payment history
Plus another two (2) credit trades with 12 months history paid as agreed
Minimum two (2) Yrs in the same line of work, business or profession required

CREDIT 80% LTV 20% LTV
1ST MTGE 2nd MTGE
701 Score 7.100% 10.000%
681 Score 7.250% 10.100%
661 Score 7.400% 10.250%
641 Score 7.500% 10.950%
621 Score 7.700% 11.500%

Disclosed rates are based on purchase of a detached single family home
for primary residence and loan amounts between $ 125,000 and $ 500,000 only
Any option different than the described above it may require adjustments to rate

Contact us for current rates
QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                            4
HECTOR A. SAENZ SR.
MORTGAGE BKR.
SELF - EMPLOYED
1099 BORROWERS
100% LTV - 601 SCORE
100% FULL DOC WITH LAST 2 YRS TAX RETURNS
100% 12 BANK STATEMENTS SAME AS FULL DOC
100% STATED INCOME WITH 621+ CREDIT SCORE

One unit owner occupied only
Debt ratio up to 55% under fixed or 2/28 adjustable
Seller contributions up to 6% for non-recurring closing cost
One (1) credit trade with 24 months good payment history required
Plus two (2) credits with 6 months of current or previous payment history
No MI - No cash reserves - No VOR - No seasoning or sourcing of funds to close

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score
100% LTV 621 Score
100% LTV 601 Score

YOU ARE LESS THAN A YEAR IN BUSINESS? …BUT 641+
SCORE THAT’S OKAY! …SIMPLY USE SIX BANK
STATEMENTS LOAN AMOUNTS AVAILABLE UP TO $
1,000,000 MILLION.

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.


                                         5
HECTOR A. SAENZ SR.
MORTGAGE BKR.
STATED INCOME
UP TO 100% LTV
INCOME MUST BE DISCLOSED, BUT IT’S NOT VERIFIED
NO W-2 - NO 1099 - NO 1040 - NO 4506 - NO PAY-STUBS

Available under Fixed and ARM products
Hi-rise condominiums are limited to 95% LTV
Option to Interest Only and No Escrows available
Cash out is permitted up to $ 250,000 with no restrictions
One (1) credit trade with 24 months good payment history required
Plus two (2) credit trades with 6 months of current or previous payment history
y
2 Yrs same line of work, business or profession

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score
100% LTV 621 Score
95% LTV 601 Score
90% LTV 581 Score
85% LTV 561 Score
85% LTV 541 Score
80% LTV 501 Score

OPTION TO SISA: STATED INCOME / STATED ASSETS

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.


                                           6
HECTOR A. SAENZ SR.
MORTGAGE BKR.
100% LTV
NO INCOME VERIFICATION
AVAILABLE UNDER FIXED AND ARM PROGRAMS
INCOME IS NOT DISCLOSED - NO RATIOS CALCULATED
NO W-2 - NO 1099 - NO 1040 - NO 4506 - NO PAY STUBS

Option to interest only up to 95% LTV

Available under fixed and ARM products
Hi-rise condominiums are limited to 95% LTV
5 Credit trades with 24 months payment history required
Will accept three (3) trades + Rent + One non-traditional trade
Loans over 80% LTV requires 4 months worth of PITI as cash reserves

100% LTV 721 Score
100% LTV 701 Score
95% LTV 681 Score
95% LTV 661 Score
95% LTV 641 Score
2 YRS SAME EMPLOYER - BUSINESS – PROFESSION

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                        7
HECTOR A. SAENZ SR.
MORTGAGE BKR.
INTEREST ONLY
UP TO 100% LTV
PAY INTEREST ONLY FOR FIRST 5 YEARS
MINIMUM PROPERTY VALUE REQUIRED $ 75,000
MINIMUM LOAN $ 75,000 - MAXIMUM LOAN $ 1,000,000

Absolute lowest monthly payment
Buy more with the same monthly payment
Save more on debt consolidation with interest only
It’s available for primary, second home and investor loans
Terms 30 year fixed - 2/28 ARM - 3/27 ARM and 6 months ARM

100% FULL DOC ONLY - ALL OTHERS 95% LTV

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score
100% LTV 621 Score
100% LTV 601 Score

PROGRAM REQUIRES 0.250 DISCOUNT POINTS
SCORE BELOW 601 OR LTV HIGHER THAN 95%
PROGRAM REQUIRES 0.500 DISCOUNT POINTS

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                      8
HECTOR A. SAENZ SR.
MORTGAGE BKR.
DUPLEX LOANS
100% FINANCING
FULL DOC OR STATED INCOME
MINIMUM 600 SQUARE FEET PER UNIT
MIN LOAN $ 100,000 – MAX LOAN $ 700,000

No mortgage insurance
One unit must be primary residence
Option to interest only and/or no escrows
Available under 30 Yr fixed and 2/28 programs
One credit trade with 24 months good payment history required
Plus two credits with 6 months of current or previous payment history

Seller contribution up to 6% is okay

100% LTV 721 Score
100% LTV 701 Score
100% LTV 681 Score
100% LTV 661 Score
100% LTV 641 Score
100% LTV 621 Score
100% LTV 601 Score

ONE UNIT MUST BE PRIMARY RESIDENCE
STATED INCOME FROM 621+ SCORE ONLY

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                          9
HECTOR A. SAENZ SR.
MORTGAGE BKR.
JUMBO LOANS
100% LTV UP TO $ 700,000
LOWER LTV TO $ 1,000,000
INTEREST ONLY PAYMENT UP TO 100% LTV
STATED INCOME ALLOWED UP TO 100% LTV
SELLER CONTRIBUTION ALLOWED UP TO 6%

ESCROWS ARE WAIVED FOR ¼ POINT

One (1) credit trades with 24 months payment history required
Plus two (2) credits with 6 months of current or previous payment history

100% LTV 721 Score $ 700,000
100% LTV 701 Score $ 700,000
100% LTV 681 Score $ 600,000
100% LTV 661 Score $ 575,000
100% LTV 641 Score $ 550,000
100% LTV 621 Score $ 550,000
100% LTV 601 Score $ 525,000

100% STATED INCOME WITH 621+ SCORE

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                          10
HECTOR A. SAENZ SR.
MORTGAGE BKR.
95% LTV
SISA
STATED INCOME - STATED ASSETS - NO TAX RETURNS
- NO W-2 - NO SOURCE OF FUNDS - NO BANK STATEMENTS -
NO CASH RESERVES - NO PAY STUBS

Investor loans are permitted up to 90% LTV
5 Credit trades with 12 months payment history required
Will accept three (3) trades + Rent + One non-traditional trade
Loan amounts available from as little as $ 75,000 and up to $ 750,000

2 YRS SAME LINE OF WORK - BUSINESS – PROFESSION

95% LTV 721 Score
95% LTV 701 Score
95% LTV 681 Score
95% LTV 661 Score
95% LTV 641 Score
95% LTV 621 Score
90% LTV 601 Score
90% LTV 581 Score
80% LTV 561 Score
75% LTV 541 Score
75% LTV 501 Score

REFI-CASH-OUT IS PERMITTED UP TO MAX. LTV

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.



                                          11
HECTOR A. SAENZ SR.
MORTGAGE BKR.
95% LTV NINA
NO INCOME NO ASSET
NO SOURCE OF FUNDS
AVAILABLE UNDER FIXED AND ARM RATES
NO INCOME - NO ASSET - NO TAX RETURNS - NO W-2
NO BANK STATEMENTS - NO CASH RESERVES - NO PAY
STUBS

Option to interest only payment

Refinance cash-out is permitted up to 95% LTV
5 Credit trades with 24 months payment history required
Will accept three (3) trades + Rent + One non-traditional trade

95% LTV 721 Score
95% LTV 701 Score
95% LTV 681 Score
95% LTV 661 Score
95% LTV 641 Score

2 YRS SAME EMPLOYER - BUSINESS - PROFESSION
INVESTORS ARE LIMITED TO 70% LTV UP TO $ 750,000


QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                          12
HECTOR A. SAENZ SR.
MORTGAGE BKR.
95% LTV NO DOC
NO QUESTIONS ASKED
SIMPLY …IT’S A DONE
DEAL
NO INCOME - NO ASSET - NO EMPLOYMENT
NO TAX RETURNS - NO W-2 - NO SOURCE OF FUNDS
NO BANK STATEMENTS - NO CASH RESERVES - NO PAY
STUBS
Option to interest only payment

Duplex okay at 80% LTV, if it’s primary residence
5 Credit trades with 24 mos payment history required
Derogatory credit within last 12 months is not permitted
24 months mortgage or rental payment history is mandatory
New payment cannot exceed 175% of current rent or mortgage

95% LTV 721 Score
95% LTV 701 Score
95% LTV 681 Score
95% LTV 661 Score
95% LTV 641 Score

REFI-CASH OUT IS OKAY UP TO 95% LTV
INVESTOR LOANS ARE LIMITED TO 70% LTV

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.


                                       13
HECTOR A. SAENZ SR.
MORTGAGE BKR.
90% LTV - NO CREDIT
DEROGATORY CREDIT OK
SELLER CAN HOLD 5% 2ND.
PROGRAM 2/28 ARM ONLY
NO CREDIT! …BUT 561 SCORE A MUST
NO NEED TO PAY COLLECTIONS OR CHARGE-OFFS

Stated Income at 80% LTV
Primary residence or second home only
No need to pay any collections or derogatory credit
No minimum credit trades required …but 561 credit score
Unrestricted all cash out up to $ 100,000 at 90% LTV is permitted
Seller is allowed to hold 5% second mortgage and pay 6% closing cost
Bankruptcy, eviction or foreclosure are not allowed within last two (2) years

90% LTV 721 Score
90% LTV 701 Score
90% LTV 681 Score
90% LTV 661 Score
90% LTV 641 Score
90% LTV 621 Score
90% LTV 601 Score
90% LTV 581 Score
90% LTV 561 Score

PROGRAM REQUIRES 0.750 DISCOUNT POINTS


QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.



                                           14
HECTOR A. SAENZ SR.
MORTGAGE BKR.
90% INVESTOR LOANS
FULL - LIV - STATED - SISA
70% LTV FOR NINA - NO
DOC
LOANS FROM $ 75,000 AND UP TO $ 750,000
OPTION TO INTEREST ONLY WITH 621+ CREDIT SCORE
Cash out is permitted up to 90% LTV
All type of residential properties are accepted
Option to Full - Stated - SISA - No Doc - Interest Only
5 Credit trades with 24 or 12 months payment history required
Will accept three (3) credit trades + Rent + One non-traditional trade

90% LTV 721 Score
90% LTV 701 Score
90% LTV 681 Score
90% LTV 661 Score
90% LTV 641 Score
90% LTV 621 Score
80% LTV 601 Score
75% LTV 581 Score
70% LTV 561 Score
65% LTV 541 Score

PROGRAM REQUIRES ONE DISCOUNT POINT


QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.


                                           15
HECTOR A. SAENZ SR.
MORTGAGE BKR.
3/4 UNITS UP TO 90% LTV
FULL OR STATED INCOME
MINIMUM LOAN $ 100,000 - MAXIMUM LOAN $ 750,000
AVAILABLE FOR PRIMARY AND INVESTOR PROPERTIES

Option to make interest only payments

Available under 30 Yr fixed and 2/28 ARM programs
Five (5) open credit trades with 24 months payment history required
Will accept three credit trades + mortgage or rent + 1 non-traditional trade
Seller contribution up to 6% is permitted at 90% LTV for non-recurring closing cost

90% LTV 721 Score
90% LTV 701 Score
90% LTV 681 Score
90% LTV 661 Score
90% LTV 641 Score
90% LTV 621 Score
90% LTV 601 Score
90% LTV 581 Score
90% LTV 561 Score
85% LTV 541 Score

ALL UNITS MUST HAVE 600+ SQFT

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                         16
HECTOR A. SAENZ SR.
MORTGAGE BKR.
70% FINANCING
FOREIGN NATIONAL
NO INCOME VERIFICATION
NO CONVENTIONAL CREDIT REQUIRED
LOANS FROM $ 75,000 AND UP TO $ 500,000
HIGHER LOAN AMOUNTS AVAILABLE AT LOWER LTV

FUNDS TO CLOSE MUST BE SEASONED FOR 90+ DAYS
LATEST THREE (3) BANK STATEMENTS ARE REQUIRED
2 YRS SAME EMPLOYER, BUSINESS OR PROFESSION

Two original credit letters obtained from lending institutions,
One located in the country of origin or from two U.S.A. institutions
Consumers with two international credit cards don’t need letters

AVAILABLE IN 30 OR 15 YEAR FIXED
ONE UNIT AS A SECOND HOME ONLY
REQUIRES 0.500 DISCOUNT POINTS

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                           17
HECTOR A. SAENZ SR.
MORTGAGE BKR.
65% LTV
SINGLE FAMILY
HARD EQUITY LOAN
NO INCOME - NO ASSET - NO EMPLOYMENT
NO CREDIT SCORE - NO BALLOON - NO APPRAISAL
NO TAX RETURNS - NO 4506 - NO W-2 - NO SOURCE OF
FUNDS

No credit score required! …but need enough equity
Program allows Foreigners, Corporations, Trusts, LLC

Condos or attached up to 60% LTV
Current foreclosure or bankruptcy okay
Min. loan $ 100,000 - Max. loan $ 1,000,000
Minimum property value required via AVM is $ 160,000
Property must be in average or above average conditions only
We don’t finance any real estate properties below average conditions

65% LTV $ 500,000
60% LTV 1,000,000
50% LTV 3,000,000

Commercial income producing properties are okay at 50% LTV up to 3 million
Rates are based on 1 Yr Prime + Margin with 30 year amortization (no balloons)

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                          18
HECTOR A. SAENZ SR.
MORTGAGE BKR.
LOAN LIMITS
$75,000 TO $1,000,000
PROGRAMS HAVE OPTION TO FIXED AND ARM RATES
PRIMARY RESIDENCE UP TO 100% LTV
SECOND HOMES UP TO 90% LTV
INVESTORS UP TO 90% LTV

Loan limits are based on non-conforming programs only
Owner occupied – 2nd home – Investor loans with option to:
FULL DOC - 12 BANK STATEMENTS SAME AS FULL DOC
STATED INCOME - SISA - NINA - NO DOC UP TO 100% LTV

LTV % Full Doc Stated Sisa/Nina/No Doc
100 700,000 700,000 N/A
95 725,000 700,000 500,000
90 750,000 700,000 500,000
85 800,000 700,000 550,000
80 875,000 700,000 650,000
70 1,000,000 1,000,000 750,000
60 1,000,000 1,000,000 N/A

INVESTOR LOANS ARE LIMITED TO $ 750,000


QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




                                     19
HECTOR A. SAENZ SR.
MORTGAGE BKR.
WHAT WE DON’T DO
TO ENSURE THE INTEGRITY OF THE “HIGH RISK” TYPE OF LOAN PROVIDED AND
TO BETTER SERVE YOUR BORROWERS THE FOLLOWING GUIDELINES MUST BE MET

01. Process loans without “Loan Submission Form“
02. Accept credit application from a non-approved loan originator
03. Land, Construction, Bridge, or Government loans
04. Properties or units with less than 600 SQFT of living area
05. Condominiums with less than 12 units or twin-homes
06. Condo-hotel & Time Share – Manufactured - Log or Dome Homes
07. Properties with deferred maintenance or below average conditions
08. Properties with lack of marketability or with more than five acres
09. Properties that don’t show pride of ownership or not used for living purpose
10. Unfinished properties or in violation of zoning regulations
11. Refinance properties currently owned and listed for sale by borrower
12. Warranty deed in the name of a corporation, partnership or trust
13. Residential loan amounts below $ 75,000 or over $ 1,000,000
14. Cash out for properties that were purchased less than a year ago
15. Process any loan without having a signed “Good Faith Estimated”
16. Release a Borrower’s credit profile that was obtained by Loans Inc.
17. Accept any credit report with a tri-merged middle credit score below 501
18. Accept any appraisal that was ordered by another party other than Loans Inc.
19. Switch mortgage program or terms without borrower’s consent
20. Power of attorney in representation of borrower’s absence
21. More than 4 loans or more than one million dollar to a single borrower
22. Explanation letters without having originals signed and dated in file
23. Accept any title company that hasn’t provide “Closing Protection Letter”
24. Prepare closing documents without having all insurances in place
25. Any loan under section 32 neither predatory lending as defined by regulators
26. Accept re-submission of loans from which preliminary approval has expired

QUESTIONS? CALL: (786) 273-8761
E-MAIL TO: hasaenz777@yahoo.com
GUIDELINES: HECTOR A. SAENZ SR.




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DOCUMENT INFO
Description: Stated Income Home Equity Line of Credit document sample