• We now offer a 40-year loan with the first 10 years as interest only, enjoy a low monthly mortgage payment!!!
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Non-Prime Cash-Out Refinancing

Non-Prime Cash-Out Refinancing

We give our borrowers the boost they need by adding Non-Prime loans to our product mix of offerings, great for those looking to refinance higher loan balances. Cash-out gives our clients a little financial breathing room while possibly lowering their monthly payment and interest rate as well.

NON-PRIME CASH-OUT REFINANCE PROGRAM HIGHLIGHTS

  • Primary and second home refinancing
  • Loan amounts up to $1.5 million
  • Minimum credit score of 500 (75%)
  • Maximum 80% LTV with no MI
  • Recent credit events OK
  • Non-warrantable condos OK
  • Investment properties OK
  • 30-year fixed, 5/1 and 7/1 ARMS
  • Maximum cash-out is $500,000

Contact us for more information about this cash-out refinancing program.

Call us today at (800) 535-0270 or email us by clicking here.

Stated Income Loans

Stated Income Loans

As a mortgage broker that knows stated income loans we specialize in the self-employed borrower who is looking for financing. Below you will see guidelines for our stated income loans.

Our Programs:

  • Up to 75% LTV
  • Credit: 650+
  • 30 yr Amortization
  • No income verification
  • No Tax Returns
  • No Pay Stubs
  • No seasoning
  • No verification of Funds
  • Unlimited Cash Out
  • From $100k to $5 Million

Our primary focus is in the quality of loan structuring to avoid the uphill battle of endless documentation needed to satisfy traditional and extra conservative conforming underwriting.

Our specialty:

  • Investment SFR 1-4 Units Multi-Family, (Primary allowed only in NY state)
  • Commercial Mixed Use or Office
  • Retail Warehouse
  • Self-Storage
  • Auto Service

Contact us today for a FREE consultation at (800) 535-0270 or email us here.

*This product is not regulated by the New York State Department of Financial Services

FANNIE MAE- Cash Out LLC UPDATE

FANNIE MAE- Cash Out LLC UPDATE

As some of you may be aware that Fannie Mae made a change early in the year in 2017 that the individual must be on title for 6 months even if the property in the LLC is owned by the individual. Fannie Mae has now made the change back to allow an individual who is an owner of a property in a LLC to do a Cash Out and transfer title to the individual at the table. So that being said no waiting period for a borrower who owns a property in LLC for Cash Out to the individual.

If the scenarios mentioned above had ever stopped you from getting a loan than you need to contact us so we can get the financing done for you, we are always on top of our guidelines helping borrowers get the proper mortgage financing they deserve.

Contact us today for a FREE consultation at 800-535-0270 or email us here.

Happy New Year!!!!

MortgageDepot Team

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