www.Florida-Mortgage-Lenders.com 
All Information is subject to change without notice.

preview

Questions

911loan@gmail.com

CLICK HERE
Reviews on Zillow
 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

CREDIT REQUIREMENTS Mobile top

FHA MORTGAGE

550 MIN FICO

PORTFOLIO MORTGAGE

NO MINIMUM

VA MORTGAGE

550 MIN FICO SCORE 

USDA LOANS

580 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

Florida Non-Permanent Resident Alien Mortgage Lenders Program

NPRA Acceptable Visa Types—E-1, E-2, E-3, G-1 through G-5, H-1, L-1, NATO, O-1, R-1, TN (NAFTA) . ITIN Documentation—US Government issued valid ID & Copy of ITIN assignment document.

PROPERTY TYPES: ● SFRs, Condos, (Warrantable & Non-Warrantable), PUDs, 2-4 units, Townhomes ● No below average properties ● Minimum $50,000 equity required

INELIGIBLE PROPERTIES: ● Rural Properties, Site > 10 Acres, High-rise Condo in Dade/ Broward Counties, Florida (8+ stories)

LOAN TERMS: ● 5 ARM or 30 Year Fixed ● 5 Year / 30 Year Term IO ● Index is 1 year LIBOR ● No pre-payment penalty ● Caps are 2/2/5 (2% Initial Change Cap / 2% Period Adj / 5% Lifetime Cap) ● Margin 3.75% ● All loans require impounds for tax and insurance

LOAN AMOUNTS: ● $100,000—$1,000,000.

HOUSING HISTORY/CREDIT EVENT SEASONING: ● Housing history—0x30. For housing delinquency, see pricing adjustments. ● Bankruptcy/Foreclosure—3 year seasoning. For less than 3 years, see pricing adjustments. ● Short Sale/Deed-in-Lieu/Modification—2 year seasoning. For less than 2 years, see pricing adjustments.

INCOME/DTI: ● Max of 50% DTI ● Residual Income—$1,500 per household plus $500 1st child, $250 thereafter. Child maximum $1,500.

 CREDIT SCORE/TRADELINE REQUIREMENTS: ● 3 trade lines reporting for ≥ 12 month; or 2 trade lines reporting for ≥ 24 months with activity in the past 12 months. Borrower must have housing history or one of the trades must have $5,000 high credit/limit. ● Credit Score—The lowest middle score of the primary wage-earner is used for pricing and LTV purposes. ● ITIN—Credit will be pulled using borrower’s ITIN number and must have a minimum of 2 credit scores.

INCOME DOCUMENTATION: ● Full Doc - 1 or 2 years W-2, paystubs, tax returns or K1’s. ● Alt Doc - 12 or 24 months personal or business bank statements or 1099’s . Min. 2 years history of self employment required. ● Asset Xpress—100% of amount needed to amortize loan plus monthly debts for 60 months (Cash-out not allowed) ● Asset Assist—Assets divided by 60 is added to income. Maximum 25% of total income. ● Lease agreements in lieu of schedule E are treated as ALT Doc.

PAYMENT SHOCK: ● Maximum 300%.

TAX LIENS AND JUDGMENTS: ● All  Florida Non-Permanent Resident tax liens and judgments must be paid at closing.

COLLECTION/CHARGE-OFF ACCOUNTS: ●  Florida Non-Permanent Resident Collections and charge offs need to be paid off except: - Medical Collections. - Collection accounts older than 2 years.

ASSETS / RESERVES:  Florida Non-Permanent Resident● 6 months > 80% LTV, 3 months > 65% and ≤ 80% LTV . ● Cash-out may not be used to satisfy reserve requirement when LTV > 80%. ● Gift funds for down payment ok, Borrower must contribute 5% own funds.

LISTED PROPERTIES: ● Must be off market for 6 months.

OCCUPANCY: ● Owner Occupied and 2nd Home ● First-time Homebuyers with 12 months canceled rent checks, 75% max LTV, 680

 Florida Mortgage Lenders has just re-released our Florida Non-Permanent Resident Alien Mortgage Lenders Program (NPRA). The max loan to value is 80% for a purchase and 75% for a refinance.

 Only the following visa classifications are allowed as NPRA: 

  • E-1, E-2, E-3
  • G-1 through G-5
  • H-1
  • L-1
  • NATO
  • O-1
  • R-1
  • TN (NAFTA)

A non-permanent resident alien is a non-United States citizen. These individuals are permitted to live in the United States on a temporary basis and may have been granted authorization to work in the United States. For example, a student or work visa.

 Please keep in mind, this is unrelated to our ITIN program.

Apply Now

Questions

911loan@gmail.com

CLICK HERE
Reviews on Zillow
 
1399173
"Thomas went above and beyond to get our mortgage approved. We had a couple of "hiccups" with our VA financing and Thomas was able to get them resolved ... more "
5.0/5.0
by lbaze2008
1375949
"I was hesitant to utilize someone from the internet to obtain my home loan. I even let my real estate agent talk me into going with someone local ... more "
5.0/5.0
by rmac333
1345066
"Thomas martin was a great help with our mortgage . it was a stressful time in our life , but Thomas remained calm through out the whole process which ... more "
5.0/5.0
by zuser20140303145114251

MINIMUM CREDIT SCORE

FHA MORTGAGE

580 MIN FICO

NO TAX RETURN PROGRAMS

600 MIN FICO

PORTFOLIO MORTGAGE

600 MIN FICO SCORE 

VA MORTGAGE

580 MIN FICO SCORE 

USDA LOANS

600 MIN FICO SCORE 

FANNIE MAE.

620 MIN FICO SCORE 

FREDDIE MAC

620 MIN FICO SCORE 

CALL NOW!

954-667-9110

Apply Now!

All Information Subject To Change Without Notice and should not be relied on for decision making.