Features 80% LTV with 600 credit score Min 100,000 - $1M Max Loan Interest only options available
12-Month Bank StatementFICO 680 +
EVENTVANTAGEtm LOAN PROGRAMWith our new EventVantage Loan Program is for those borrowers who have re-established their credit after a Foreclosure, Bankruptcy, Short Sale or Deed-in-Lieu with rates starting in the Mid 5’s with minimum requirements! HIGHLIGHTSIncome Documentation >Last 2 years returns/W-2 (or) 24- Month Bank Statements for self-employed Loan Terms>30-Year Amortized & Term - 7/1 Hybrid ARM or 30-Yr Fixed >All loans require reserves for Taxes & Insurance >No Prepayment Penalty - No PMI Occupancy>Owner Occupied Only Loan Amounts >$150,000 Minimum to $2,000,000 Maximum >Loan Amounts $1.0M to $2.0M Require Senior Management Approval >Loan Amounts Greater than $1.5M require Two (2) Appraisals Property Types>SFR / Condos / Townhouse Foreclosure, Bankruptcy, Short Sale, Deed-in-Lieu Seasoning>24 months or 48 months if multiple eventsCash-Out>Maximum cash-out is $500,000 or $300,000 when loan is over $1,000,000====================================================================================================================HOMEOWNERVANTAGEtmPROGRAM Learn how to achieve 100% financing on Conventional Loans HWe are excited to announce our new Homeowner Advantage Program offering first-time home buyers, move-up borrowers, and retires a way to achieve 100% financing with a conventional loan. How does it work? We start with our standard 97% LTV conventional loan program that is available for all mid-score borrowers. Then we add the ability for first-time home buyers, move-up borrowers, and retires to achieve a 100% financing by allowing them to fund the remaining 3% with gift funds. Also the seller can contribute to the closing costs! Qualifications: First-time homebuyers, move-up borrowers, and retires. Highlights: a) Refinances up to 97% LTV regardless of current mortgage b) No reserves required for 1-unit propertiesCLICK HERE TO GET PRE-APPROVED< bake to top of page====================================================================================================================FOREIGN NATIONAL LOAN PROGRAM “A” HIGHLIGHTSLTV Max > 75%Foreclosure, Short Sale, Deed-in-Lieu Seasoning > 1 Day within past 12 months: 10% LTV reductionMinimum Credit Score >N/AMax Loan Amount > Up to 2,000,000 Maximum Rate > 8.99Loan Type > 30-Year FixedBankruptcy Seasoning > 12 MonthsPre-Payment Penalty > NoneMinimum Reserves > 12 MonthsGift Funds > Not AllowedMortgage Lates > 0x30Rolling Mortgage Lates Permitted > NoProperty Types > SFR, 2-4 Units, Townhouses, Condos, investmentNon-Warrantable Condos > Yes Seller Concessions > Up to 2 %Escrows Required > YesCLICK HERE TO GET PRE-APPROVED< bake to top of pageFOREIGN NATIONAL LOAN PROGRAM “B” HIGHLIGHTSLTV Max > 70%Foreclosure, Short Sale,Deed-in-Lieu Seasoning > NoneMinimum Credit Score > NoneMax Loan Amount > Up to 1,000,000 Loan Type > 30-Year Fixed and 7/23 Hybird ARMBankruptcy Seasoning > NonePre-Payment Penalty > NoneMinimum Reserves > Taxes and Insurance onlyGift Funds > Allowed with sourceMortgage Lates > 0x30Rolling Mortgage Lates Permitted > NoProperty Types > SFR, 2-4 Units, Townhouses, CondosNon-Warrantable Condos >Yes Seller Concessions > Up to 6 %Escrows Required > YesCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================INVESTOR CASH FLOW LOANAre you looking to expand or build your real estate portfolio? We may have the solution! Our Real Estate Investor Cash Flow loan program was created to serve your real estate investment goals!Highlights•Qualification based on property cash flow•No personal income used to qualify•Credit scores starting at 660 (Mid score of primary wage earner)•Up to 70% LTV•1-4 Units and Condos (warrantable)•Loans up to $1,000,000•Maximum Cash out $300,000•Min rates start in the low 7's•24 months Foreclosure, Short Sale, Deed-in-Lieu, Bankruptcy seasoning •Pre-payment penalty 3 years: 4% No buy out•Minimum reserves: 6 Months (2 Months for each additional property) •Gift Funds: Not allowed•Mortgage Lates: 0x30 last 24 months•Property Types: 1-4 Units, Condos•Non-Warrantable Condos: NO•Seller Concessions: up to 6%•Maximum Properties Financed: 5 properties with us, No limit on total number of propertiesCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================PUERTO RICO BORROWERS We currently offer several new loan programs for your clients that live and/or work in Puerto Rico. More specifically, borrowers who have filed tax returns in Hacienda (Puerto Rico) are eligible to purchase . This includes borrowers on fixed incomes like social security and pensions who want to purchase a:•Primary home home•2nd home•Vacation home•Investment homeCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================FHA with FICO’s starting at 520 We can deliver FHA loans with a low down payment to borrowers that may have been to turn away by other lenders.Highlights•FICO down to 520 to get approved •560 FICO, 85% LTV, FHA Cash Out Refinance•560 FICO, 90% LTV•580 FICO, 96.5% LTV•No minimum Tradelines•No restrictions on gift funds•Debt to income ratio by AUS•Programs: 15,20,25, and 30 year fixed and 5/1 ARM•Some Manufactured housing property types may be eligibleFirst Time Home Buyers •No Overlays with DU approved/eligibile•Max DTI follow DU finding, 620 and above•Gifts OK, must follow FHA GuidelinesCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================COMMERCIAL LOANSHighlights•Loan Amounts: $250,000 to $5,000,000•Loan Purpose: Purchase, Refinance (rate/term & cash-out)•Property Types: multifamily, condo warehouses, self-storage, service centers, part supplier, restaurant, medical offices, etc..•Debt Coverage Ratio: 1.20 to 1.25•LTV: 65% TO 70% i Fixed Period: 3 & 5 year options•Minimum FICO: 650 Middle Score•Pricing: Rates starting as low as 6.99%•Term: 30 year fully amortizing / 30 year loan•Prepayment Penalty: Equal to the fixed period•The Advantage: Simple loan docs, No loan committees, Common sense underwriting, Permanent financing, NO balloonsCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================HOMEPATH LOANSHomePath products allow a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Terms: 30yr Fixed - 15yr Fixed - 5/1 LIBOR ARM - 7/1 LIBOR ARM Highlights•No lender-requested appraisal •Low Down Payment •5% on primary can be funded by your own savings; gifts; grant; from non-profits, state or local government, or employer. •Flexible mortgage terms •Borrowers may qualify with less than perfect credit •No mortgage insurance* •Expanded seller contributions for closing costs. •Available for primary residences, second homes and investment properties** •Many condo project requirements are waived; call for details. CLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================REAL ESTATE INVESTOR LOANS 1st Florida Lending is pleased to introduce unique investor loan programs that target the special needs and requirements for the serious real estate investor. 1st Florida Lending investor Loan Products offer great flexibility and business friendly features:•Take cash out on existing investment properties•Re-Coup up to 75% of an all cash purchase with Delayed Financing options•Purchase properties with multiple income options•Income sources include rental, W2 and self-employment for all transactions•High-Balance ARMs okay on Purchase and Rate and Term Refinance•Minimum FICO scores down to 620 on Purchase and Rate and Term Refinance•Finance up to 110% with 620 credit score on HARP•Attached, Detached 1-4 units, condos and PUDs available for investor programs•Self-employed okay - Business assets may be used when the borrower is 100% owner of the company•Fannie Mae Home Path Program available (No MI, No Appraisal, No Condo Review)•Competitive interest rates (fixed and adjustable) CLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================HARP 2 LOANSIf you owe more than your home is worth, then HARP 2.0 could be the program for you!You may be eligible for this program if you have an existing mortgage under Fannie Mae or Freddie Mac and you closed on the mortgage before May 31, 2009. You must also be current on your mortgage payments with no late payments in the last 6 months. With rates at historic lows, this is the perfect time to refinance.What is the HARP Loan Program?HARP assists borrowers with mortgages backed by government- owned Fannie Mae (FNMA) or Freddie Mac, allowing them to cut their loan payments by refinancing at today’s low interest rates even if they are stuck in homes that have lost value. If you are eligible for the HARP program you may also be eligible for the Save Our Home AZ program administered by the Arizona Department of Housing. This program may provide assistance to eligible Arizona homeowners in the form of a principle reduction in addition to refinancing to a lower interest rate.You may be eligible for HARP Loan if you meet all of the following criteria:•The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.•The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.•The mortgage cannot have been refinanced under HARP previously unless it is a FMae that was refinanced under HARP from 05-2009.•The current loan-to-value (LTV) ratio must be greater than 80%.•The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 6 months.•The homeowner must benefit from the loan by either lower monthly payments or movement to a more stable product (such as going from an adjustable-rate mortgage (ARM) to a fixed-rate mortgage).CLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================USDA LOANSWe offer 100% financing to qualified buyers with low fixed interest rates. Applying for a USDA Mortgage is easy, and the experts at 1st Florida Lending are here to make it even easier. CLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================REVERSE MORTGAGE What’s a reverse mortgage? If you’re 62 or older – and looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses – you may be considering a reverse mortgage. It’s a product that allows you to convert part of the equity in your home into cash without having to sell your home or pay additional monthly bills. CLICK HERE TO LEARN MORE< bake to top of page===================================================================================================================HOME COMMUNITYtm LOANS Our new Home Community Loan Program offers Medium Income / 1st Time Homebuyers a Conventional Loan alternative to FHA. Highlights•5% Down payment •No MI vs FHA•640 FICOCLICK HERE TO GET PRE-APPROVED< bake to top of page===================================================================================================================EASY FINANCEtm HOME RENOVATIONSSwimming Pools, Outdoor Kitchen, Major Landscaping, Bathroom/Kitchen Remodel, Builtin Outdoor Fireplace, Major Structure Alternations, Built in Sauna/Spa and Structural Add-OnsHighlights95% LTV of After Improved ValuePurchase and Rate/Term30 & 15 Fixed Rate AvailablePrimary Residences Only No Minimum Repair AmountSFR, PUDS, Condos (attached/Detached01-4 Units(Primary Residences + Second +Investment)Improvement must be permanently Affixed + add value to the propertyProcessing Time Lines? Generally speaking, most loan files take 30** days to receive final approval from underwriting. This time line starts when a completed loan file and required documentation is submitted to underwriting for approval. It is important to note that delays can occur any time throughout the loan process due to borrower document errors, incorrect or illegible information, credit rating changes during the review period and not providing documents in a timely manner when requested by underwriting. ** The 30 day estimated closing time lines as stated above may not apply to some conforming and/or non-conforming loans which may require additional documentation and processing times that could result in delays . Ask you loan specialist for more detailsIMPORTANT DISCLAIMER: ALL LOAN PROGRAMS, GUIDELINES, RATES AND LTV’S ARE SUBJECT TO CHANGE WITHOUT NOTICE. 1ST FLORIDA LENDING CORP., AT ITS OWN DISCRETION, RESERVES THE RIGHT TO CANCEL ANY OF THE LOAN PROGRAMS ADVERTISED ABOVE AND/OR ANY ONGOING APPLICATION UNDER REVIEW.
We are changing lives one loan at a time by offering the largest selection of Mortgage Programs in Florida with over 45 and counting serviced by our professional multilingual staff namely English, Spanish, Portuguese, French and Creole ! HERE ARE JUST A SOME OF OUR LOAN PROGRAMS: Conventional * Conventional w/ 97LTV's * Non QM Conventional - Non QM Conventional w/ 12 month Short sale, Foreclosure, Bankruptcy * Non QM Conventional w/24 months Short sale, Foreclosure, Bankruptcy * Jumbo Loans low rates * Jumbo Loans w/ 12 month Short sale * Jumbo Loans w/Short sale, Foreclosure, Bankruptcy *No documentation loans * Investment Properties * Commercial * FHA's with 520 FICO'S * FHA Streamline Non Credit Qualifying * FHA Purchase and Refinance Loans * VA * VA Construction to Permanent Purchase Programs * IRRA'S * USDA * Cash Flow Loans * Unlimited cash out * Business owner Bank Statement Loans * Independent Contractor Bank Statement Loans * Self-employed Borrower who has been Self-Employed for less than 1 year * Stand Alone 2nds * Manufactured Homes * Manufactured Homes for FHA and VA * Refinance * Refinance w/ cash out * Unlimited Cash Out * 203k Streamline * HARP * Fresh Start * Home Community * Home Path * Non-traditional Credit/Trade References * Live and work in Puerto Rico * Construction to Perm * Borrowers who have money, but not employed * Reverse Mortgage * Home Renovation * Sub-Prime * Zero FICO Score * Foreign National Stated * Foreign National Full Doc