Does K&H Have Any Special Loan Programs For Me?
Definitely. Of course, we can do what all of the other "bullet point" lenders can do. You know, the ones that list every loan product available in the marketplace. But the reality is that most people don't know exactly what they need.
That's where we come in. Our sole mission is to find the RIGHT loan for you and this can only happen if we have a chance to talk with each other. If that happens, it's not a matter of IF we can get you a loan, simply a WHEN and WHAT KIND. Here are some cool things K&H can do:
1. No Money, No Problem.
Ask us about our true, "no money down", 100% purchase product.
2. Upside-Down Loan.
Are you underwater in your mortgage? Join the crowd. Fortunately, the options have expanded for refinancing into a historically low interest rate. Using a HARP 2.0 loan, we have been able to drop our clients monthly payments, with loan to values that exceed 200% in some cases. Find out if you are eligible today by calling me or filling out our contact form.
3. Super-Size Me.
In some cases, we can help borrowers get a 90% Jumbo loan (any loan over $417K) to purchase a home. We can handle loan amounts up to $3.5M and in many cases, our Jumbo rates are as low as conforming loan rates.
Some homes, foreclosures in particular, need a lot of work. Normally it's impossible to get a loan on a place with "issues", but not with the 203K Program. We can roll the costs of the repairs into the loan and get you into your new place in no time.
5. Reverse Your Thinking.
For seniors age 62 and older, we offer a special government-insured HECM reverse mortgage that requires no monthly mortgage payment*. This can be used to purchase a home or refinance a home to help a client go from simply surviving to thriving.
* Borrower remains responsible for taxes, insurance and homeowner’s association dues (if applicable) and must otherwise comply with the loan terms.
6. Don't SHORT Yourself.
Let's face it. Here in Sarasota & Manatee County, a lot of folks bought at the height of the market, fell on hard times and had to short sale a home. Now, we can get a loan for someone as little as 3 years after their short sale date.
With options for folks who simply don't fit in the ever-shrinking banking box, it makes sense to contact us today!
What about loans for non-US citizens?
Not from around here? Not a problem! We can and have successfully closed loans for non-US citizens. In some cases, we can lend up to 80% of the purchase price of a home. For Foreign National buyers, leveraging often makes a lot of sense, even if the interest rate is a bit higher. But before you count your Euros or Rupee, here's what you need to know:
Absolutely every income and asset document must be translated into English by a certified translator. This can be challenging with tax returns and bank statements, but we have a great translation service to recommend if you don't have one.
Before you can even make application, we need to obtain an International Credit Report. The cost of this is $200 and it provides our lenders with a detailed, extensive look at your profile.
3. Down payment.
You must be able to paper-trail where your required down payment is coming from. It must be your own assets/funds. No gifts are allowed. Cash is not acceptable.
Be prepared to show 2-3 years of history when it comes to your income source. This can be cumbersome, but not impossible.
5. VISA or PASSPORT.
Simple enough, but you must have one of these.
6. Rate Expectations.
Since this is a portfolio lending product, please expect interest rates to be higher than a 30-yr. fixed US mortgage. Depending on the exchange rate, getting a loan can still be a very favorable way to leverage and buy a property.
You must be able to show at least 12 months of reserves in a US bank account. Oftentimes, lenders want to set up an automated mortgage payment linked to this account.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.
(HUD Mortgage Letter 2014-10).
More Options. Less Complicated.