THE RIGHT NICHES AT THE RIGHT TIME!

THE RIGHT NICHES AT THE RIGHT TIME!

We're still doing loans in declining markets, while other lenders have left the state!!!
Super competitive I/O’s. Awesome fixed rates, and still offering Option ARMS/Hybrids.
We qualify debt ratio on the Interest Only payment, not the fully amortized payment!
LOAN AMOUNTS TO $ 3 MILLION!!!
Only 1 appraisal required for loan amounts to $ 3 Million.
Up to 45% DTI allowed on owner occupied properties 80% ltv and below with 680 fico
2x30 Mortgage lates allowed in the last 24 months, 0x30 in the last 12 months.
12 months bank statements as Full documentation for self employed borrowers.
For Asset verification on Full Doc, we only require 2 Months bank statements to verify 2-4 months PITI, principle, tax and ins.
Gift equity allowed for full doc purchases ( NO MONEY DOWN )
Permanent Financing out of Construction loans considered a rate & term and not cash out!!!
Full Doc on 1-4 Units Investment properties to 70%. No limit on amount of properties FINANCED by 1 investor.
Borrowers can finance up to a total of 4 properties with Downey or up to $ 2 Million total in loans. ( ask for more details )
No Seasoning required for R/T refinances, one day on title, one day out of purchase. WE TAKE CURRENT APPRAISED VALUE!!!
Payoff of seasoned 2nd TD considered R/T (must be 12 months old, draws with the last 12 months okay)
Non-occupying co borrowers can help you qualify (blend ratios)
Non-Applicant spouse income can help you qualify regardless of their fico score

Pre Qualification Form - No Credit Check Required