“The volume of mortgage applications continued to be shored up by refinancing during the week ended August 16, but overall activity was down. The Mortgage Bankers Association (MBA) said its Market Composite Index slipped 0.9 percent on a seasonally adjusted basis, perhaps not surprising after it soared 21.7 percent the previous week.  On an unadjusted basis the Index fell by 2.0 percent following a 27 percent gain during the week ended August 9.

The Refinance Index managed a slight 0.4 percent gain from the previous week and was 180 percent higher than the same week one year ago. That index had increased by a cumulative 42 percent over the previous two weeks. The refinance share of mortgage activity increased to 62.7 percent of total applications from 61.4 percent a week earlier.

The seasonally adjusted Purchase Index lost 4 percent week-over-week. The unadjusted Purchase Index decreased 5 percent compared with the previous week and was 5 percent higher than the same week one year ago.”

by: Jann Swanson

http://www.mortgagenewsdaily.com/08212019_application_volume.asp

Recap of our Loan Products:

  1. Stated Income Loans (No Tax Returns, no W-2s, No P&L) up to $5mm
  2. Bank Statement Income Loans (Great Bank Statement Program for business owners and self employed)
  3. Hard Money Loans (As low as 20% down / minimal documentation) Fund in 7-10 days.
  4. Flipper Loans (Flip a property with one of our many options)
  5. Line of Credit
  6. 100% Financing (cross collateralize)
  7. Foreign Nationals Loans (no social security or residency required)
  8. Raw Land & Lot Loans
  9. Ground up Construction for spec homes, custom homes and commercial ground up to $500mm.
  10. 2nd Position Loans up to $5mm
  11. Investor Cash Flow Loan – No tax returns or DTI calculation! Based on subject property cash flow
  12. Farms, Vineyards, Ranches and Agricultural Properties (25-30% down)
  13. 10% down Jumbo’s with NO MI up to $2.5mm
  14. Manufactured Housing / Mobile Homes (20% down / 620+ credit score)
  15. Acreage Properties
  16. Commercial Loans up to $500mm
  17. 5% down Jumbo (Up to $2mm Lender paid PMI)

We also offer:

  1. 10, 15, 20, 25, 30 year Fixed, Conventional Conforming Loans (under $484,350)
  2. High Balance Conforming aka Super Conforming (from $484,350-$726,525)
  3. Jumbo’s to $10 Million / Super low rates! / 10% down Jumbo to $3mm
  4. FHA, VA, USDA
  5. ARM’s
  6. Reverse mortgages up to $10 Million Value