OUR RESIDENTIAL LOAN PROGRAMS
A residential mortgage loan is made primarily for personal, family, or household use and is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a house.
As a community-oriented organization, we would never recommend unusual programs, such as NINA, NINJA, or SISA loans. The financial regulations of today have virtually eliminated such dodgy programs. Home financing programs are now known as full documentation loans and require the following:
- Verification of Employment
- Verification of Income
- Verification of Assets
- Verification of Large Deposits
RESIDENTIAL PROGRAMS IN USA
- One to four units
- Owner-occupied — up to 30 years with 3.5% minimum down payment depending on the circumstances
- Owner-occupied — rural housing or military benefits with as little as 0% down payment
- Investment — up to 30 years with 20-25% down payment; may require proof of financial reserve that can last for about 6 -12 months; up to 10 properties per customer with conventional terms; unlimited properties with portfolio terms
- Loan Amounts — most of our investors offer to finance around $50,000 to $2 million
- Available for properties under construction or renovation
- Specialty Halal Medical Financing with 0% down payment
- Specialty Stated Income Investment Property
Application Requirements for US Customers
For individuals who are W-2 employees:
- W-2 forms and Federal Income Tax Returns from all employment sources of the borrowers for the last two years
- Paycheck stubs for the last two months
- Bank or investment statements for the last two months
- Copy of ID and work authorization in the US (passport, social security card, driver’s license, visa, etc.)
- Copy of purchase agreement (if available)
For people with self-employment income:
- Same items as above
- Personal and Business Federal Income Tax Returns for the last two years
- Bank statements of your business for the last two months
GENERAL INSTRUCTIONS FOR SUBMITTING DOCUMENTS
- All pages of statements must be included if they have a page number (even if it is blank or have generic text).
- Whenever possible, please scan and e-mail documents. Send single-sided copies of the documents and do not staple the papers if you are mailing files.
- It is always best to scan IDs to get a clearer image since faxing a copy of a driver’s license makes the picture unviewable and the text hard to read.