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Friday, December 10, 2004

Accredited Home Lenders Program Highlights

Jack Keeley over at Accredited Home Lenders sent his program highlights over for everyone.

Full Doc Loans:

80/20 Combo:
- $1,000,000 combined loans; first time homebuyers OK; 12 and 24 month bank statements allowed to $750,000; interest only payment option available

Super Jumbo:
- 80% LTV to $1,000,000; 90% to $750,000; 100% to $600,000; interest only payment option available

115% CLTV 2nd Mtg. (90% 1st, 25% 2nd):
- 640+ credit score: $625,000 combined maximum loan; refinance only or second behind existing conforming institutional lender

95% LTV Second Home:
- $500,000 max loan; purchase or cash-out refinance; interest only payment option, no seller concessions

>100% to 104% LTV:
- 620 credit score; 640 credit score for first-time home buyer; 4% used to pay closing costs

Score More: Consumer Lates Ingored:
- 100% LTV 620 credit score to $500,000; 80/20 to $650,000; Bankruptcy; 1-day discharged; No VOM/VOR with 620+ credit score; 24 months bank statements allowed

Mortgage Only:
- 550 credit score to 90%; $400,000 max loan; rolling 30's on mortgage allowed; consumer lates ignored; 24 months bank statements allowed

Stated Loans:

80/20 Combo: Self Employed, 1099, or Wage Earner:
- Up to $650,000 combined loans; wage earners and first-time home buyers to $500,000 combined

Score More: Consumer Lates Ignored:
- 640 credit score - self employed, 1099 or wage earner; 100% CLTV to $500,000; lower LTV's on lower credit scores

100% LTV: Self Employed, 1099, or Wage Earner:
- Minimum score all borrowers: 100% LTV - 660; 95% LTV - 640; First-time home buyer wage earner - 680; $400,000 maximum loan

Super Jumbo:
- 65% LTV to $1,000,000; 75% to $750,000; 85% to $600,000; interest only payment option available

Accredited Home Lenders is licensed in all 50 states. Fast, common sense underwriting.

Jack Keeley, Account Executive
813-892-5688 Cell
888-391-6942 Fax

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