FHA and Investor Specialist

Despite the contraction of the secondary markets, there are still stated income(w/ full asset verification) programs available(currently in NJ only) to those who qualify  for this type of financing in the vein of which it was originally intended: allowing for consumers who cannot prove their actual true income via their tax returns.  We offer this program on a brokered basis and the terms are subject to change without notice, just like everything else in this world we live in.

The basic parameters of the loan are as follows: 70% Loan to Value (30% down) for purchases and rate/term refinances up to $750,000 for credit scores of 720 and above.  65% Loan to Value (35% down) with credit scores of 700-719.  Cash-out refinances not allowed, and other qualification parameters apply as well. 

Basic rates for this program are competitive: 6%-6.5% range for short term ARM financing (3/1, 5/1, 7/1) and 30 Year Fixed rates, typically with 1 discount pt.

Michael Byrne     

www.refi-fhasecure.com

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Gateway Funding Diversified Mortgage Services, L.P. is licensed by the PA Department of Banking as a first mortgage banker and licensed pursuant to the PA Secondary Mortgage Loan Act; Arkansas Mortgage Company License; Licensed by the Department of Corporations under the California Residential Mortgage Lending Act; DC Mortgage Lender and Broker; a Georgia Residential Mortgage Licensee (#15499); Illinois Residential Mortgage Licensee; Kansas licensed Mortgage Company; Massachusetts Mortgage Lender and Broker (#MC-3052); Licensed by the New Hampshire Banking Department (#10192-MBB); Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker NYS Banking Department; a Mortgage Lender and Broker in Rhode Island; Gateway Funding is also authorized or exempt as a mortgage banker in AL, CO, CT, DE, FL, IN, IA, ME, MD MI, MN, MO, MT, NE, NV, NM, NC, OH, OK, OR, SC, TN, TX, UT, VT, VA, WV, and WI. This is not an offer to extend credit to any individual who may be entitled to a more complete disclosure per RESPA, TILA, HOEPA or any other more applicable federal, state or local law or regulation, Rates, Terms, Fees and Equity requirements are subject to change without notice. For qualified borrowers only. Equal Housing Lender.  © 2008 Gateway Funding Diversified Mortgage Services, L.P.