Alt A Fixed Rate Program
For borrowers with good credit, our ALT A program offers competitive interest rates, loan amounts up to $3,000,000 and higher loan-to-values. This 30-year fixed rate loan can be used in conjunction with stated income, no ratio and no income/no asset verification programs by borrowers seeking higher loan amounts and lower down payment requirements.
This program is specifically designed for creditworthy clients with unique income, asset, and credit situations seeking loan amounts above conforming loan limits.
Conforming "No Ratio" Program
With our 30-year fixed "no ratio" program, income and employment are not reported on the 1003 mortgage application and ratios are not calculated. In addition, there are no income verification requirements, regardless of the income source.
This program is designed for clients with strong assets and a timely payment history, but whose source of income may be complex or require excessive amounts of documentation. For example, if you are self-employed or commissioned, or even retired, you may benefit from a "no ratio" program.
Conforming "No Income No Asset" Program
Our "No Income No Asset" program is available for both a 15 and 30-year term, and is ideal for a client with excellent credit who does not wish to disclose income, employment or asset information. Income, assets, and employment are not reported on the 1003 mortgage application. And because there is less information to verify, "no income no asset" loans often receive faster processing.
This program is also available for first-time homebuyers. Clients who may be self-employed or work on commission and whose income tax returns do not reflect what they can comfortably afford to pay on a mortgage may benefit from this program.
Conforming "Stated Income" Program
With our 30-year "Stated Income" Program, the client's income is stated on the 1003 mortgage application but is not verified. Assets must be listed on the 1003 mortgage application and should be consistent with the income stated.
Clients with excellent credit who have been self-employed for at least two years or who work on commission are good candidates for this program. First-time homebuyers are also eligible for this program. In addition, the reduction in paperwork can lead to an even more timely approval for your clients.
Nick Biancucci
1-866-NICK-LOAN (1-866-642-5562)
24 Rubbly Road, Wenham, MA 01984
Phone (978) 468-4606 Fax (978) 468-4607
Massachusetts Mortgage Broker License # MB 2213
