Loan Programs

Our Loan Programs

Traditional

Commercial Loans

As experts in the residential and commercial lending industry, our team of experienced brokers work tirelessly to secure the right financing solutions for each and every client.

Small Business Loans

We believe in empowering entrepreneurs and small business owners to reach their full potential.

Fix-and-Flip Loans

We are passionate about providing top-notch fix and flip loans to help visionary investors bring their renovation dreams to life.

Rental Property/Multi-Units

We’re passionate about empowering real estate investors to grow their portfolios and achieve their financial goals.

Air BnB

We believe that investment opportunities are everywhere, and that includes the exciting world of short-term rentals!

Ground-Up Construction/Renovation

We believe in the power of building and creating something new. That’s why we’re dedicated to helping our clients bring their ground-up construction and renovation dreams to life!

Community- Focused Loans

We’re proud to offer comprehensive lending solutions for the assisted living facility industry.

Hard Money Loans

We understand the power of opportunity and the importance of acting quickly. That’s why we offer hard money loans, designed to provide fast and flexible funding for real estate investors and entrepreneurs.

Jumbo

Jumbo Elite Loans (>$647,000)

Jumbo Elite is a mortgage loan intended for well qualified buyers that are looking for a mortgage in the range of $550,000  to $2,000,000.  Borrowers can choose from 30 year fixed product or three different ARM programs.  This program is designed for borrowers with excellent credit whom are seeking exceptional pricing and terms and have the ability to fully document income and assets.  Program requires 20% down payment. (See Non-Traditional Mortgage Section below for less stringent criteria.)

 

  • Down Payment:  20% or more down payment is required. 
  • Credit Scores:  Ideal for borrows with credit scores greater than 760 (Lower credit scores in a range of 720 to 759 are accepted with pricing adjustments.)  Middle score of highest income earner will be used.
  • Loan Limits:  Up to $2,000,000
  • Occupancy:  Owner occupied or second residence

Piggyback Loans (Purchase Price up to $800,000)

This piggyback loan program is a great way to get the best in pricing with a conforming first mortgage, and piggyback it with either a home equity line of credit or fixed rate second.  This can be an ideal solution for properties selling in the range of $540,000 to $1,000,000.

 

  • Down Payment:  10% or more down payment is required. 
  • Credit Scores:  Ideal for borrows with credit scores greater than 700 (Lower credit scores are accepted with pricing adjustments.)
  • Loan Limit on 1st Mortgage:  Up to $548,000 (Higher loan limits apply to high cost areas)
  • Loan Limit on 2nd Mortgage:  90% of the sales price, less first mortgage loan amount
  • Occupancy:  Owner occupied

Foreign National & Domestic Investor Loans

Foreign National

This program is designed for over-seas buyers wishing to take advantage of the opportunity to own property here in the Sunshine State.  No US credit or Social Security Number required and up to 75% financing is available.  If you want to buy a second home or investment property here in Florida, regardless of property type; single family home, townhome or condo, this may be just the program for you.

 

  • Down Payment:  25% or more down payment is required.
  • Credit Scores:  No U.S. credit required
  • Property Types:  Single Family, Townhome or Condo
  • Loan Limits:  Up to $750,000
  • Reserves:  Twelve months

Domestic Investor

To secure traditional financing on investment properties, you will need at least 20% down payment.  If you can put down 25% (that extra 5% down payment will save you at least one-quarter percent on the interest rate) maybe more.  Ideally you will want to have a middle score of 740 or better and be able to demonstrate cash reserves equal to six months for each investment property owned.  Rates may be adversely impacted for every 20 points below a 740.

 

  • Down Payment:  20% or more down payment is typically required.  (25% down payment saves at least a quarter on the rate)
  • Credit Scores:  Ideal for borrows with credit scores greater than 740 (Lower credit scores are accepted with pricing adjustments.)
  • Loan Limits:  Up to $647,200 (Higher limits available for high cost areas)
  • Reserves:  Six months

Alternative Income Verification

Income Per Bank Statements

Self-employed borrowers whose true income is documented by their bank statements can take advantage of this exceptional program.  This program is for borrowers who have operated the same business continually for 3 or more years, and can prove their ability to repay by utilizing their last 24 months of personal and/or business bank statements. 

 

  • Maximum Loan to Value: 
    • 80% to $750,000
    • 75% to $1,000,000
    • 70% to $1,650,000
    • 65% to $2,000,000
  • Credit Scores:  Middle credit score = or > 700
  • Proof of Self Employment:  Via business license or registration through Florida Sun Biz
  • Occupancy:  Owner occupied or second residence only

Asset Depletion

Designed for borrowers with substantial liquid capital. The Asset Utilization program permits borrowers to qualify for repayment of the loan based on their assets rather than the traditional earned income approach that requires employment verification.  This special program requires net liquid assets in an amount equal to or greater than 175% of the principal loan amount being requested.

 

  • Maximum Loan to Value:  75% to $1,000.000
  • Credit Scores:  Middle credit score = or > 700
  • Loan Limits:  65% Up to $2,000,000
  • Occupancy:  Owner occupied or second residence only

Reverse Mortgage

Home Equity Conversion Mortgage (HECM) & Reverse Mortgage Purchases

If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA’s Home Equity Conversion Mortgage (HECM) program.  The HECM provides a way to improve quality of life by eliminating mortgage payments and/or providing additional monthly cash to the homeowner.  If you simply would like to have more control over your financial affairs and the ability to stay in your home longer, a reverse Mortgage might be just the answer.  HECM loans can be used for your current home, or the purchase of a new home.

 

  • Equity Required:  Typically a minimum of 60%. 
  • Credit Scores:  Acceptable credit history is required to avoid an escrow reserve set-aside
  • Loan Limits:  Up to $970,800
  • Occupancy:  Owner occupied only

Adverse Credit Exceptions

Recent Housing Event or Bankruptcy (More Than 18 Months)

So long as 18 months have passed since the credit event, no letter of explanation is required, just clean credit since the event.  If you have experienced a financial set-back whereby you had to short sell a home, had a lender foreclose, or had a discharged bankruptcy, this program provides up to 75% financing.  Re-established credit along with two years of continual employment are required.

 

  • Down Payment:  25%
  • Credit Scores:  660 or better
  • Re-established Credit:  3 active trade lines that have each been open 12 months or longer
  • Loan Limits:  Up to $850,000
  • Occupancy:  Primary residence only

Recent Housing Event or Bankruptcy (More Than 1 Day, Less Than 18 Months)

If you have a very recent housing event or bankruptcy (less than 18 months ago), this program may provide up to 80% financing with a minimum 580 credit score, and up to 75% financing with a minimum credit score of 540.  Clean credit history since the recent housing event or bankruptcy is required, and there are no minimum required open/active trade lines.  This program helps buyers get back into a home of their own while they work on rebuilding their credit.  There are no pre-payment penalties whatsoever, so once credit has been re-established and seasoned for at least 3 years past the adverse credit event, the borrower can then refinance into an FHA loan.

 

  • Down Payment:  20%
  • Credit Scores:  580 or better
  • Re-established Credit:  No minimum required open/active trade lines
  • Loan Limits:  Up to $1,000,000
  • Occupancy:  Primary residence only

Renovation

FNMA Homestyle Renovation Loans

The HomeStyle Renovation is a convenient way for borrowers to purchase a home that needs moderate repairs, or refinance their current mortgage on their existing home and include the necessary funds in the new loan amount to complete their renovation.  The Homestyle Loan provides an economical way to make improvements instead of applying for a second mortgage, home equity line of credit, or other more costly method.  Unlike FHA renovation loans, these FNMA loans will generally require credit scores above 700 .

 

  • FNMA Homestyle program:  Renovation/repair costs are allowed up to 50% of the “After Completed” value of the property.
  • Maximum Financing Available:  95% after improved value
  • Eligible Improvements:  All improvements must be permanently affixed to the property and add value.  Appliances must be built-in; free standing appliances are not eligible.  Luxury items are eligible (e.g. swimming pools, spas, outdoor kitchens or fireplaces, etc.)
  • Draws:  An escrow account is established and funds are released as work is completed. A maximum of 5 draws are allowed.
  • Contractor Requirements:  All work must be completed by one (1) licensed general contractor.  One (1) specialty contractor allowed for work such as foundation, pool, well/septic etc.

FHA Renovation Loans (203-K)

FHA 203-K loans are a favorite of first time homebuyers that have their eye on a house that is in need of repairs.  These loans require a bit of determination and patience on the borrower’s part as they involve getting bids from licensed contractors which result in more time spent from offer to closing.  These loans fully fund at closing with an escrow hold-back that is released in stages as the contractor completes the work.

 

  • Limited 203(k) program:  Intended to assist homeowners with basic repairs costing from $5,000 to $35,000
  • Amount of Financing Available:  Adjusted As-Is value plus improvement costs, or 110% of the after improvement value
  • Down Payment:  3.5% or more down payment is typically required.  Family gift money is allowed for down payment.
  • Credit Scores:  Requires middle credit score greater than 640  
  • Loan Limits:  Up to $420,680 (Higher loan limits available in certain high cost areas)
  • Occupancy:  Owner occupied residence only

Still Have Questions About Our Products? Get A Quote

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