3CALoan Loan Programs
Stated Income Loan
Stated Income Loan Requires the borrower to state their monthly Income on a mortgage application. The Loan was originally intended for self-employed borrowers with complicated tax schedules. Borrower doesn’t required to provide their income tax returns, W-2 Forms or any other Income Documents.
Bank Statement Loan
Bank Statement Loan Allows borrowers to use their bank statements as a way to verify their Income, rather than tax returns or any other income documents. The loan is designed for Self Employed Individuals, freelancers, and Diverse income streams. The borrower can provide either 12 months or 24 months Bank Statements.
Profit & Loss Loan
Profit & Loss Loan allows borrowers to use just profit & loss prepared by CPA/Licensed Tax Preparer. It is designed for Self Employed Individuals, freelancers, and diverse income streams. This is the perfect program for borrowers who can’t go Full Doc or do a traditional Bank Statement Program.
Verification of Employment Loan
Verification of Employment Loan or VOE is a type of Home loan where all of the verification is directly done from the employer. Verification of Employment Loan lenders request Verification of Employment form directly from their employer through email or fax. Borrower doesn’t required to provide W-2’s, pay stubs or tax returns. If you’re a salaried worker or a wage earner, this loan is beneficial for you as an alternate document home loan.
DSCR
Loan
DSCR Loan program allows you to qualify for a loan based on your property’s cash flow, not your income. It doesn’t require any tax returns or W2 for qualify a home loan. The debt service coverage ratio is calculated in this loan. It is a ratio of a property’s monthly rental income and its monthly mortgage debt, including principal, interest, taxes, insurance, and HOA (if applicable).
ITIN
Loan
ITIN Loan are for those people who want to finance a home purchase but do not have the SSN number. Basic requirements to qualify for an ITIN loan are 2 years of employment, last 2 years of your tax returns (W-2 or 1099), identification in the form of a copy of your ITIN card, and a state ID, drivers license, or passport, Your most recent bank statements. ITIN loans can only be used for a home that is owner occupied (primary residence).
Closed-End 2nd Loan
Closed-End 2nd Loan allow borrowers to tap into the equity of their home to access cash without affecting the rate on their original loan. We have 2 type of 2nd Mortgage, 1st is Full Doc 2nd Mortgage and 2nd is Bank Statement 2nd Mortgage. In Occupancy we can do owner occupied, 2nd home and Investment property.
FHA Loan
FHA home loans make it easier for a borrower to qualify for a loan and make a small down payment. This loan is beneficial for a borrower, especially a first time home buyer, to qualify for a mortgage. Borrower is required to purchase a mortgage insurance premium in case the borrower defaults.
Conventional Loans
Conventional loans are safe loans that differ from other government regulated loans. For instance, they must follow guidelines and significant loan limits set by Fannie Mae and Freddie Mac. Yet, they differ from other government regulated loans in that they are not regulated by government agencies such as the FHA, USDA, or VA.
Jumbo Loan
Jumbo home loans make it possible for the borrower to buy an expensive home because they allow the borrower to get large loan balances. Compared to high-balance loans, jumbo mortgage loan amounts are higher. They have more demanding requirements than the smaller, conforming mortgages because they are larger than the usual “conforming” loan limits.
High balance Loans
High balance Loans are loans that exceed conforming loan limits for borrowers living in expensive regions of the country. High-balance loans exceed the national conforming loan limits for borrowers living in expensive regions of the country. It requires a large Down payment.
Hard Money Loans
Hard money loans for residential property are issued by private investors or companies. This type of loan is a specific type of asset-based loan financing and is usually a 12 months term loan, but it can extend from 2 to 5 years as well. Hard money loans are short-term loans and the interest rates are much higher than traditional financing.
Why you should choose 3CALoan?
3CALoan offer buyers low rates, thus we make buying a home more affordable. A borrower can choose a 5 or 7-year adjustable rate mortgage or 30 year Fixed. Hence, they save thousands by having enough time to refinance into a fixed-rate loan, sell the home, or pay off the mortgage entirely. Overall, it is vital for applicants to shop around for mortgages. They can find low rates if they search in the right shopping places. 3CALoan helps our customers check whether they are eligible for loans in minutes with DIFFERENT/DIFFICULT Scenarios. Our competitive rates, efficient services, and talented team can help ease the process of purchasing a home. We walk our customers through every step of the way. To find out more information about loans and how we can help, contact us at (818) 322-5626.
