Scott Smith
NMLS # 1634279
813-991-1166 Office
813-260-0778 Text
Mortgage Broker
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Author, Speaker & Coach
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No Down Payment ? No Problem !
Save Money Now !
Conventional
A popular loan type, conventional fixed rate loans feature a constant interest rate for the life of the life. Generally speaking, monthly payments remain constant. Traditionally borrowers are expected to provide a 20 percent down payment though this is not necessarily required. Contact us for details on down payment requirements. Available terms generally range from 10 years, 15 years, 30 years and 40 years.
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Maximum loan amount: $726,200 to Max County Limits
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Minimum credit score: Varies
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DTI: 50% with AUS approval
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Minimum down payment: 3%
Loan Programs
FHA
FHA loans are private loans insured by the federal government. These loans are popular with borrowers who don’t have enough funds to pay a traditional 20 percent down payment because they only require 3.5 percent down to qualify. Those who choose these loans are required to pay mortgage insurance which slightly increases their monthly payments. FHA limits the loan to $356,352. Lenders who wish to offer these loans must be approved by the Department of Housing and Urban Development. Please contact us today to find out if a FHA loan is right for you.
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Max Loan Amount: $420,680 to Max County Limits
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MAX DTI: 55% w/ AUS approval
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Down Payment: 3.5%
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Minimum Credit Score: 580 (some lenders down to 500)
USDA
USDA loansare mortgage loans that help make purchasing a home more affordable for those living in rural areas. The U.S. Department of Agriculture backs USDA loans in the same way the Department of Veterans Affairs backs VA loans for veterans and their families. Zero down payment and lower mortgage insurance characterize the USDA mortgage loan. Contact us for more information on adjustable rate mortgage loans.
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Max Loan Amount: By DTI
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DTI: 29/41% Max, 29/45% with compensating factors/reserves
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Down Payment: None
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Credit Score: 640, (some lenders accept lower, Purchase & Refinance)
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Down Payment Assistance
The BEST DPA Product on the Planet!
Nothing Down, 100% FHA Purchase Financing.
One Submission, One Approval and One Closing.
No Income Limits, No DTI (Debt to Income) Restrictions,
No Property Restrictions.
Lowest FICO in the Industry - 580 Minimum
Self-Employed
Various loan options for people that don't fit into the regular mortgage options. No Tax Returns, Bank Statements, P&L Statements. DSCR for Investors. Asset Qualifier. Etc.
Jumbo Loans
A jumbo loan, or non-conforming loan, usually means any home loan for amounts higher than $548,250. Jumbo loans feature similar loan programs to fixed rate and adjustable rate programs. There are even FHA jumbo loans. The main difference between jumbo loans and conforming loans is the interest rate. Because jumbo loans are riskier for lenders they usually have higher rates. Learn more about jumbo loans by contacting us today.
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203(k) Renovation
An FHA 203(k) Renovation Loan is a government-backed mortgage that combines the costs of a home purchase (or refinance) with the costs of home renovations. The FHA 203(k) Renovation Loan offers homeowners and home buyers an easier way to pay for home remodeling costs.
VA
Like a FHA loan, VA loans are private loans insured by the federal government. VA loans are only available to qualified military veterans and their families. These loans are only available to these individuals for their own primary residences and cannot exceed a $548,250 loan limit. For information on qualifying for this loan program please give us a call today.
Investor DSCR
DSCR or debt service coverage ratio is the relationship of a property’s annual net operating income (NOI) to its debt service including principal and interest payments.
We use the DSCR to calculate how much funding can be supported by the cash flow generated from the property. Your own personal income will not be considered on this mortgage product.
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Ask about
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Reverse Mortgages
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Fannie Mae HomeReady
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Freddie Mac HomePossible
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Construction to Perm
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New Destiny Commercial Loans
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Bridge Loans
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40 yr Mortgage Loan
Click logo for Simulator
All In One Loan
Mortgage interest can be one of life’s biggest financial obstructions. The All In One Loan was developed by homeowners and mortgage professionals as a solution. By combining banking functionality with home financing into one dynamic instrument, borrowers are able to save tens of thousands of dollars and years off their loan.
Home financing and banking combined:
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Deposits lower your loan’s principal
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Funds remain available for expenses
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Interest is calculated on the average daily balance
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This lowers the monthly interest payments
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Tens of thousands of dollars can be saved over the life of the loan
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Mortgage freedom can be achieved in half the time or less
PAY OFF YOUR MORTGAGE FASTER !
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3.5% Down Payment
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Low Upfront Cash
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Low Monthly Payment
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Purchase Option at 1%
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Assumable FHA Mortgage
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Borrower Keeps Equity
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FICO as Low as 580
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Lock in Price and Rate