Today, most Real Estate is purchased with some form of financing which often is the largest obstacle in acquiring property. MBN Real Estate Professionals have recognized this crucial component and through its affiliates have a wide range of Traditional Loans and Non-Traditional Loans available for its clients and represent over 40 different banks and lending institutions. We shop the market for the best rates specific to your property purchase.
MBN Realty Professionals have contracted in house Mortgage Brokers and Mortgage Loan officers which you can meet with prior and during the Real Estate purchase to guide you and help you identify the best mortgage product for your needs. There are more loans available for our clients and buyers than ever before which include 16 different types of mortgage products from FHA to Conventional to Jumbo to Foreign National ( see below for complete list). These loan products are represented by over 40 different banks and lending institutions to satisfy all your lending needs.
Many mortgage applicants do not fit into the traditional box as identified by large financial institutions and need an alternate more creative option. There are many of these creative financing options available and the mortgage Loan Officers are happy to discuss all of these creative programs such as Bank Statement Loans, Investor Cash Flow Loans, One day our of Bankruptcy/short sale Loans, Combination 1st and 2nd Mortgage Loans, and the list goes on.
List of Mortgage Products Available
USDA Loans – 580+ credit score – front end/back end ratios 28%/41%
VA Loans – 580+ credit score – – front end/back end ratios 36%/41%
FHA Loans – No credit score to-800+score, – front end/back end ratios 28%/56%
Conventional Loans – 620+ credit score, – front end/back end ratios 28%/47%
Portfolio Loans – 640+ credit score, – front end/back end ratios 41%/43%
Jumbo Primary Residence -95% LTV 680+ credit 41-43 ratio
Jumbo Second Hand Home -90% LTV 680+ credit 41-43 ratio
Jumbo Investments -75-80% LTV 680+ credit 41-43 ratio
Combination 1st and 2ndLoans -1st MTG & 2nd MTG Loans – double underwrite
Bank Statement Loans -24 Month Bank Statement Business or Personal 660+ Credit 35-43 Ratio
1-Day Out of Short Sale or Foreclosure Loans
Non-prime and Sub Prime Alt A -Positive Amortization & Interest Only Loans
Portfolio Select -Alt A up to 90% LTV Loans
Investor Cash Flow Loans – 75% ltv 50% DTI
Foreign National Loans – up to 75 % LTV – 12 Month Reserves Required
Cash-out Refinance Loans – Standard underwriting 80%ltv