at 5330 Office Center Ct Suite 61, Bakersfield, 93309 United States
To qualify everyone that Ginnie Mae, Fannie Mae, Freddie Mac, FHA, VA, USDA guidelines allow for without overlays so I can qualify all eligible borrowers.
Mortgage loan officer qualifying more people for more home at wholesale pricing. C2 is a large direct lender and 2nd largest broker in the country with over 50 branches in CA and over 300 loan officer and over 70 banks to shop rates or Niche programs. 1. No overlays above 580 FICO. FHA loans 500-579 FICO have some overlays along with 580 FICO down payment assistant programs. 2. I don’t need collections paid off in most cases(I follow AUS findings) 3. I don’t have credit trade line requirements, i.e. 1 credit card with 580 FICO is good without using alt credit, even if open less than 12 months. THAT’S HUGE! Most lenders require 3 credit trade lines rates 12 month on the report and many require one current and others others requir in the last 36 months. 4. FHA DTI to 47/57 if AUS approved. My Fannie Mae account is unrestricted so I usually get that high if I have 640 FICO. Most lenders stop 45/50% and some at 36/43%. 5. If the automated findings don't ask for tax returns we will underwrite off the W2's in most cases and only pull a W2 validation from the IRS. Many lenders require a copy of your tax transcripts from the IRS. 6. 95% conventional loans with 620 FICO with lender paid mortgage insurance. 7. No appraisal reviews. FHA and Conventional appraisal transfers allowed 8 No bank statements needed, use VOD's 9. Gift party only fills out gift letter and wires money to escrow for Conventional loans. Nothing from their bank required. Escrow gives wire receipt. 10. On FHA loans with 620 FICO we can generally cover all the fees by raising the rate a little so no seller concessions on most loans. 11. Piggy back 2nds to 90% CLTV 12. Reverse Mortgages. I know this product well 14. No seasoning of time after short sale program if you qualify “The services referred to here in are not available to persons located outside the state of California” “This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Dept of Real Estate, Broker# 01821025; NMLS#135622., My NMLS License # 279056, Real Estate license BRE# 01438387”
239 FB users likes Mark Barrett Mortgage Banker, set it to 7 position in Likes Rating for Bakersfield, California in Bank/financial services category
For qualified clients: “To Be Determined” (TBD’s) underwritten approvals in 72 hours and close 14 days or less once in contract. You have conditions to submit on day 1 of purchase contract which is why we can close faster. Transferred Appraisals OK in most cases, email me a copy for approval and for the process. Also no appraisal reviews from our Panel appraisers reports. Best appraisers in Bakersfield. No Landlord Experience Required to use rental income (Owner, Non-Owner and Jumbo OK) Non Permitted Structures OK as long as they did not result in a new roof & no saftey or legal issues Client just obtained an owner occ loan now wants to buy a new primary home? No Problem! No donors bank statement if gift is in borrowers account or gets wired directly to escrow. No minimum credit history or trade-lines, need two FICO's and DU or LP approval, Agency loans Only No minimum payment reduction or rate decrease (tangible benefit) in order to refinance Pay off credit cards to qualify, and keep account open. Paydown installment to 10 months and exclude payment Apply for cash out immediately following an all cash purchase, owner or non-owner OK No lender GFE review of loan officer TIL to order appraisal using borrowers CC or debit card, order appraisal once TIL is signed the day you receive purchase contract. 2hr setup. Free Rate Extensions: 5 days if market rates are worse, 20 days if rates are same or better, OK to lock or extend until 9 pm West Coast time Mon-Sat. Rate Float-downs available too! Excess Premium/YSP can cover NRCC & RCC plus $2,000 cash back on R/T refi & $1500 to principle reduction on Purch or refi. Qualify HELOC's using actual payment from credit report or statement Table Funding for faster, painless closings!
Conforming product niche --- 90% CLTV Fixed 2nds and 85% CLTV HELOCs behind our conforming 1st • Conforming rates (very competitive.....consistently, it is worth the look): • True 80-10-10 purchase product, this: 1) Gets rid of MI 2) Allows you to have a competitive conforming 1st. 2nds up to $250K, this can have lower monthly mortgage payments to your borrowers as there is no MI! • Fixed 30/30 purchase 2nds up to 90% CLTV. Not many lenders offer 30 year Fixed 2nds! • 30 year Fixed 2nd rates in the low 5%s • NO title insurance on Fixed 2nds • Only one lender, one appraisal needed for our 1st - 2nd / HELOC combos • 85% CLTV HELOCs, HELOCs can be all cash out! • 85% LTV one loan cash out product Portfolio product niche --- 90% LTV, one loan, no MI on purchase and refi! • HUGE Refi niche is paying off any subject property mortgage including unseasoned 2nds can go one loan, no MI to 90%! This is a huge niche. • Both of these products are offered one loan, no MI up to $750K! The primary wage earner needs 740+ credit, max DTI = 43%, P&I products only, owner occupied only, 6 months reserves. If you need more loan amount, our 85% CLTV purchase and refi product can go up to $1.5M! 85% CLTV only requires 720+ credit on the primary wage earner. This would be our 1st/2nd-HELOC combo.
Credit reports. Once you get into a purchase contract I might re run the credit if the previous credit check is 30 days old. I do not pull a new credit report before we close your home loan in most cases. This helps if you make major charges by accident or make late payment once you get into contract. No surpruses at end takes a lot if stress off the loan process.
C2 is a large direct lender and 2nd largest broker in the country with over 65 branches, over 300 loan officer(licensed with NMLS and BRE) and over 100 banks to shop rates or Niche programs. I have a lot of options to get you qualified and shop for low rates and fees. 1. No overlays above 580 FICO. 580 FICO down payment assistant programs have some overlays. VA has no min credit score requirements(but needs to make sense with 12 months clean credit). 2. I don’t need collections paid off in most cases(I follow AUS findings). We ignore charge offs and medical collections. 3. I don’t have credit trade line requirements, i.e. 1 credit card with 580 FICO is good without using alt credit, even if open less than 12 months with no rent history. THAT’S HUGE! Most lenders require 3 credit trade lines rates 12 month on the report and many require one current and others others requir in the last 36 months. 4. FHA DTI to 47/57 if AUS approved(It will). My Fannie Mae account is unrestricted so I usually get that high if I have 640 FICO. Most lenders stop 45/50% and some at 36/43%. 5. If the automated findings don't ask for tax returns we will underwrite off the W2's in most cases and only pull a W2 validation from the IRS. Most lenders require a copy of your tax transcripts from the IRS. 6. 95% conventional loans with 620 FICO with lender paid mortgage insurance. 7. No appraisal reviews. FHA and Conventional appraisal transfers allowed 8 No bank statements needed, use VOD's (broker loan) 9. Gift party only fills out gift letter and wires money to escrow for FHA & Conventional loans. Nothing from their bank required. Escrow gives wire receipt. (broker loan) 10. On FHA loans with 600 FICO we can generally cover all the closing fees by raising the rate a little so no seller concessions needed on most loans. 11. Piggy back 2nds to 90% CLTV (broker loan) 12. Pull credit report once. No refresh at the COE. (broker loan) “The services referred to here in are not available to persons located outside the state of California” “This licensee is performing acts for which a real estate license is required. C2 Financial is licensed by the California Dept of Real Estate, Broker# 01821025; NMLS#135622.”
VA Highlights: • Min 580 FICO regardless of Loan Amount! (Approved Eligibles and Refers) No min FICO with 24 months clean credit with exceptions, has to make sense, • LP or DU FINDINGS OK • C/O Refi's up to 100% • NO OVERLAYS • Up to 100% LTV on Cash-Out High Balance 3-4 properties • UNLIMITED CLTV on VA files • No DTI CAP - Follow AUS findings • Approved/Eligible - Unlimited DTI! VA- REFER/ELIGIBLE - 50% Max Ratio • Unlimited Lender Credit for Rate Chosen • NO Minimum Credit History or Trades with Approved or Refer AUS Findings • MFG HOMES OK, 580+ FICO or 620+ FOR SINGLE WIDE • 100% Cashout for VA Manufactured homes - including Refers (no more than $500 cash in hand, debt consolidation OK!) • No VOR Unless Required by DU Findings (Unless VA refer) • Borrowers with 1 FICO OK • NO COLLECTIONS paid UNLESS required by AUS! • Seller can pay all closing costs & Prepaids • IRRRLS - No Income, No FICO, No Appraisal IRRRL Loans • 580+ on all transactions (Purchase or C/O refis) (IRRRLS No Min FICO) • No Seller Title Seasoning • 1 Day Off MLS for all Refi Including Cashout
• FHA & VA Min Fico 580 (I can do 500 in some cases) • W2 Only Allowed on all products • Manufactured Allowed VA,FHA,Conventional • Qualify Your Wage Earners without 2106 Expenses we only verify W2 Transcripts on Wage Earners • Qualify 1 Year Tax Returns on Self Employed • 1 Year Average allowed for w-2 • LPMI-not capped at 45%DTI-Condos allowed • VA IRRRL Appraisal not required / AVM Not Required • VA 100% LTV Cashout • DU Refi Plus HARP 2.0 - Unlimited DTI, LTV / CLTV (Lender Paid and Borrower Paid MI Accepted- No min fico • LP Open Access Unlimited DTI, LTV / CLTV (Lender Paid and Borrower Paid MI Accepted) all occupancies • 5-10 Financed Properties Allowed • 85% Cash Out • FLIPS with 1 Appraisal-home inspections not mandatory *Our appraisal management team picks the best appraisers in town **Rates are extremely low today and FHA is being priced at 3.25% for most clients APR 5.154. .
Agri-Access recently rolled out a niche product called the RuraLiving Home Mortgage Program. RuraLiving offers 15 or 30 year fixed rates for hobby farm properties that typically do not conform to traditional secondary market financing, and rates are typically 50-60 bps over conforming. Eligible properties are 5-160+ acres, allow Schedule F income, outbuildings and distant comps.
I do not require 12months credit history to get an FHA loan. I just require one credit score and an automated approval by FHA which is usually easy unless you have derogatory on your credit with limited positive trade lines.
conventional rates today? My 720 FICO W2 employee client is buying 450,000 SFR home with 20% down. The rate is 4.25% with adjusted origination of -$1,200. That means the rate of 4.25% covers all lender fees, origination fees and gives $1,200 to cover escrow fees or other third party fees to include pre-paids. Some call this a "no cost loan" and others call it "no lender fee loan". I call it a great deal!!! The appraisal fee is $350 for conventional loans. That's not too bad. FHA would be 3.75% with much bigger lender credit. Just FYI. rate shopping saves thousands sometimes. I am booked this week but have many appointments free next week and available by phone when available 24/7.
Use W2 income ONLY for FHA and Conventional loans! No tax returns and the loan conditions or reduced qualifications that come with them. *Have a borrower that filed 2106 expenses & as a result they do not qualify for a loan? *Haven't filed taxes or extension or amended taxes? -Need W-2's & Current Paystubs -NO TAX RETURNS REQUIRED! -Signed 4506 required (we will only run for W-2 transcripts only) -FHA or Conventional loans -Purchases & Refinances **If borrower has rental income or schedule E/C/F income or any other income on the tax return being used they are not eligible for W2 verification** This process has always been allowed and we still do it. Many lenders want to see your tax returns but it is not required by FHA, Fannie Mae, Ginnie Mae or Freddie Mac. This has made closing loans easier for me with less conditions or red flags waived. I also only pull credit report one time. We do not check it after you are in contract at all or even refresh the liabilities. One Credit pull eliminated closing headaches. I have some very cool niches!!!
W2 ONLY option for FHA and Conventional loans! *Have a borrower that filed 2106 expenses & as a result they do not qualify for a loan? *Haven't filed taxes or extension or amended taxes? -Need W-2's & Current Paystubs -NO TAX RETURNS REQUIRED! -Signed 4506 required (we will only run for W-2 transcripts only) -FHA or Conventional loans -Purchases & Refinances **If borrower has rental income or schedule E/C/F income or any other income on the tax return being used they are not eligible for W2 verification** This process has always been allowed and we still do it. Many lenders want to see your tax returns but it is not required by FHA, Fannie Mae, Ginnie Mae or Freddie Mac. This has made closing loans easier for me with less conditions or red flags waived. I also only pull credit report one time. We do not check it after you are in contract at all or even refresh the liabilities. One Credit pull eliminated closing headaches. I have some very cool niches!!!
I am a direct lender with my focus on residential real estate with fast closings and low fees. We are also the 2nd largest broker in the country which gives me many loan products to include SBA loans. My focus in this post is SBA (Small Business Administration) Loans. SBA loans: 10% to 15% down options (even 100% LTV options with cross collateralization of properties), up to 25 years fully amortizing to 5 million loan amount. Purchase, cash out refinance (or buy out partner) and construction (from the ground up) of owner occupied commercial real estate. I need 3 years business Tax returns and personal tax returns of anyone owning 20%+ of business. Business occupancy needs to be 51% of rental sq ft of building. Business size needs to be less than 500 employees and annual sales under 7.5 Million annual averaged over 3 year period (some exceptions as with Grocery stores who have small margins). Rates are WSJ prime (3.25%) plus margin of 1.5 to 4% (4.75% to 7.25% fully indexed rates depending on variable or fixed rate and overall transaction). Can do Franchise if approved through SBA. I need up to 60 days to close with 45 day financing contingency period. I can be closed faster than 60 days but helps to have longer escrow due to appraisal and environmental process. Start up business will depend on management experience in that business and strength of borrower and collateral. Rural areas included. Up front cost depends on several variables. Appraisal fees and environmental report generally range between 7k-10k. Most commercial appraisals are between 2,500$-$5,500, loan packaging fee $1,000-$1,500. SBA guarantee fees range from 0% of loan amount to 2.76% of total loan amount which can be financed. No apartments with SBA program. We do those as a regular commercial loan when over 4 units. Please call me for more info at 661-544-8787, firstname.lastname@example.org or my SBA business partner: Jason Brock Office: 408-556-6545 Cell: 408-892-2133, email@example.com
I am still doing NEW CONSTRUCTION FHA Manufactured home financing. FHA ONE TIME CLOSE PROGRAM Disclaimer: All FHA guidelines must be met Program Overview Construction to Permanent loans for new manufactured and modular homes. Our One Time Close program provides construction financing, lot purchase and Permanent loan, all wrapped up in one loan. Why worry about re-qualifying, re-appraisals or incurring additional costs? We provide interim financing and administration for true one-time close staged funded construction-to-permanent loans. Designed for manufactured and modular housing, this program allows us the ability to offer our realtor and clients this unique loan product. We underwrite and approve the permanent portion of the loan before the construction begins. The construction portion of the loan is also underwritten and approved. When all conditions for closing are cleared, other than the final construction related conditions, the closing will be coordinated. Once closed, construction can begin. Because the permanent loan is closed before construction begins, there is no “re-qualifying” the borrower. This is a true one-time close; therefore, the borrowers will not need to return to the settlement agent for a second closing once construction is complete. Key Benefits • Reduction in total cost due to only one closing • Reduces interest rate risk • FHA 96.5 LTV financing allowed • Only one closing prior to the start of construction • No payments due from borrower during construction • Borrower’s first payment begins once construction is complete • No credit, document or appraisal expiration once the loan closes • No re-qualification of borrower once construction is complete • Builder/Retailer is allowed staged funding draws during construction based on line-item percentage completion 660 minimum FICO, Trade-ins not allowed (We give value to the land, subject to FHA’s guidelines), The borrower cannot perform any of the work, Borrower must sign off on the interim draws as per FHA guidelines. We will not accept an assignment to the builder/dealer. Types of Loans FHA only (Owner Occupied) Eligible Properties Manufactured and Modular Homes Not available for Site-Built Homes Loan Terms 15 Year Fixed 30 Year Fixed Max/Min Loan Amounts FHA’s max county limits, Min loan amount $150,000
Some of my Freddie Mac LP Conventional Niches: 1. No Overlays to the Certificate 2. DTI up to 50.0% with LP Approval 3. Non-Occupant Co-Borrowers are Allowed (just like FHA) 4. Pay off Debt to Qualify and Don't Close the Accounts. 5. 1 Year Tax Returns with a Streamline Accept 6. Super Conforming Cash Out to 75% LTV (to county loan limit) 7. Illegal units okay on SFR's. 8. Delayed Financing Available 9. No Max Acreage with Comps 10. Transferred Appraisals Accepted 11. Flips Okay 12. Seller Carry Backs Allowed 13. Condos: Limited Certs offered up to 90% LTV 14. Escrow Holdbacks Allowed 15. Super Conforming ARMS. NOO's to 80% LTV.
Check out a few of the cool loans I can do. • Qualify Your Wage Earners without 2106 Expenses we only verify W2 Transcripts on Wage Earners • Qualify 1 Year Tax Returns on Self Employed • 1 Year Average allowed for w-2 • LPMI-not capped at 45%DTI • VA IRRRL Appraisal not required / AVM Not Required • VA 100% LTV Cashout • DU Refi Plus HARP 2.0 - Unlimited LTV / CLTV No min fico • LP Open Access Unlimited LTV / CLTV (Lender Paid and Borrower Paid MI Accepted) • 11-20 Financed Properties Allowed • 85% Cash Out, 85% investment purchase with pmi • 90% LP Super Conforming ($417,001 to $625,500) MIN FICO 620 • FLIPS with 1 Appraisal-home inspections not mandatory • FHA to 57% DTI, FHA Jumbo up to 55% dti w/ 620 fico • FHA STREAMLINES UNLIMITED LTV/CLTV Min fico 580 • No min credit hisrtory required • HomePath • FHA Back to Work- • FHA Min Fico 580(500 with strong compensating factors) • Manufactured Allowed VA,FHA,Conventional * Payoff debt to qualify without closing accounts. ** 10 payment remaining on installment debt not counted *** Low rates and no lender fees on most loans. This is just a handful of the things I can help you with as a direct lender and wholesale mortgage broker.
Mortgage made easy during tax season: If you are a W2 wage earner and that's the sole source of your income that you re claiming then I will use your W2's to qualify you. We run 4506 W2 validations with IRS to verify your employer filed a W2. We do not see your tax returns nor do we run 4506T 1040 Tax transcripts from IRS. This helps on many fronts. Amended tax returns won't be an issue. Tax extensions are not needed. 1 time 2106 expense won't be seen. This make lending much easier with less conditions.
Rates keep dropping:) If you are getting a loan have your lender lock today. I can lock until 9pm and weekends.
Why you should use me as a backup Lender? I'm fast, I process my own loans, I do not need seller concessions for FHA/VA loans. My FHA and VA fees are so low we can cover the buyers and sellers Closing Cost in most cases. I can even cover all or part of buyers closing cost on many conventional loans. Plus, No Appraisal reviews, I don't trace gift funds, I don't have credit history or rent history requirements over 580 FICO, collections don't need to be paid off, I use W2's for income instead of tax returns. I don't follow QM/QRM DTI restrictions. My max FHA DTI is 47/57%. I am a large California direct lender and the 2nd largest wholesale broker in the country.
All lenders have their niches to help clients get into homes. Here are some of mine for loans over 150k: 1. I am direct lender with ability to broker to over 70 lenders. Wholesale rates mean low rates and fees. 2. I price my loans so buyer doesn't have to pay closing cost and sometimes we even pay sellers closing cost to win the bid. No sellers concessions needed!!! 3. I only pull credit once. no worries on a new report at closing. 4. For W2 wage earners we only use W2's. Verify with IRS your W2s have been filed. Never see your tax return or 2106 expense. 5. Down payment assistance to 580 FICO and you don't have to be first time home buyer. 6. I process loans that need to close fasts to save time. That's control. 7. Appraisal fees and "sellers credit" for tax proration's count towards buyers required down payment. 8. We don't trace gift funds. Just wire the money to escrow from giftor which proves ability to gift. 9. No min credit history required. We go off score not history or amount of credit. 10. Collections do not have to be paid off. $20k in auto charge offs do not matter. 11. No appraisal reviews. I can go on and on with some of my cool niches that Fit FHA. Fannie and Freddie guidelines but the best part is the low rates, fees and speed.
Credit reports. We only run credit once within 20 days of initial contract date. So no risk of another credit report ran once you have a purchase agreement. That takes a lot of stress off the process. Charge new furniture by accident and we wont know.
** W2 ONLY PROGRAM! ** FHA and Conventional standard rate sheets apply. *Have a borrower that filed 2106 expenses & as a result they do not qualify for a loan? **-Need W-2's & Current Paystubs, -NO TAX RETURNS REQUIRED! *** -Signed 4506 required (we will only run for W-2 transcripts only not the tax transcripts), -Purchases & Refinances. ****If borrower has any other income needed for loan such as schedule C or E they are not eligible for this program.
Rent vs buy? It is generally easier and cheaper to buy a house than renting a nice apartment.
Tax season. How to file your taxes if you are getting ready to buy a home and you need to use the higher income from 2013 to qualify? Take the returns to the local IRS on Coffee Rd, give them a personal check for what you owe. Have IRS make copy of first page and stamp it. By doing this process the loan officer will be able to verify with the IRS that your returns are processed in 3-5 weeks.