• Tel: (916) 332-1056
    Email: info@c1stm.com

  • Conventional

    October 2, 2013
  • Conventional Loans 

    • Room additions, Garage Conversions with No permits OK
    • Condos less than 51% owner occupancy OK 
    • Cash Out 1 day after purchase OK
    • Non Occupant Borrowers for Conventional loan OK
    • 80/10/10 loans with NO MI
    • Underwater Loans (HARP, HARP2, Open Access) 
    • Transferred Appraisals OK
    • Flips within 90 days OK
    • 5-10 Investment properties 
    • 1 year income program
  • What is a Conventional Loan?

    Conventional Loan programs have no property restrictions and, compared to federal loan programs, provide fewer underwriting restrictions.

    Can’t afford a 20% down payment? Conventional Loans provide the option to qualify for as little as 3% down.

    Client 1st Mortgage offers borrowers a variety of types of Conventional Loans to choose from.

  • Types of Conventional Loans

    Professional RE/Investors: 

    • Loan from 100K - 2MM
    • Loan to Value Up to 75% w/700 FICO
    • Loan to Value Up to 70%w/640 FICO 
    • 3 & 5 Year ARM Options 
    • Graduated Prepay's 
    • Only Verify Assets for Closing Funds
    • No Reserves Required 

    Basic Lending Parameters: 

    • Up to 75% LTV (In some areas of CA we will lend up to 80% LTV) 
    • $100k to $5 Million
    • Residential Investment Properties (SFRs, Condos, Townhouse, 2-30 Units) 
    • 1-4 Year Options
    • Interest Varies by State (8.50 - 10.50%) 
    • First Trust Deeds Only
    • 5 - 10 Business Days to Close
    • Stated Income (No Pay Stubs Tax Returns, W-2s) 
    • Foreign Nationals Welcome
    • We Lend to Individuals and Entities 
    • Cash Out, Purchase and Rate & Term 
    • Blanket Loans up to 10 Properties 

    Adjustable Rate Mortgages (ARMs):

    Adjustable Rate Mortgages

    • For borrowers that will be in a home for a short period of time
    • Fixed for a period of time – adjustable afterwards           

    Hybrid ARMs

    • Lower interest rates
    • Fixed payments for longer periods of time compared to most adjustable-rate loans
    • Also for those expecting to refinance or move before or shortly after adjustment