Loan Programs
The following is a partial list of programs offered by Secured Financial Services with a brief description of the key elements of each. For a complete list of the programs that we offer, please contact us at 818-956-3830.
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Conventional
Conventional loan programs offer 15, 20, and 30 year fixed rate mortgages, as well as various ARM products. Conventional loans generally require a minimum of 10% down and offer some of the lowest rates available. Conforming loan limits have been raised from $417,000 to $725,000 in selected areas of the country. Documentation and fair-to-good credit are necessary.
Conventional loan programs are available for owner occupied and second homes. Cash out and No Cash Out refinancing are allowable.
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Jumbo Loans
Jumbo loan programs offer 30 and 15 year fixed rate mortgages, as well as competitive ARM products for loan amounts over $725,000. Jumbo loans typically require a minimum of 10% and offer rates, which are higher than Conventional loan rates. Full documentation and fair to good credit are required.
Jumbo loan programs are available for owner occupied and second homes. Cash out and No cash out refinancng options are also available.
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FHA Mortgage
Backed by the Department of Housing and Urban Development, this mortgage offers the borrower the ability to put as little as 3.5% down payment.
Full documentation and fair to good credit is required, though lender underwriting standards are not as strict as Conventional loan programs.
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Investor Loans
Investor loan programs are used to finance 1-4 unit residential properties that will be held for investment. Both Conventional and Jumbo sized loan products are available for investors, although the required down payment is generally 20% or more in order to avoid costly upfront fees. Full documentation and fair to good credit are required.
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Challenged Credit Loans
Troubled credit? Been turned down somewhere else? These mortgages are for borrowers with less-than-perfect credit. They can vary from slightly damaged credit to severely damaged. Please contact us at 818-956-3830 for more details.
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