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Suncoast Mtg-ALL Lender Access Pass

Lowest Rates-Prime & NON Prime--Self Employed or W2- 941.536.6748

By SunCoast- All Lender Access | Managing Broker in Florida
  • Mortgage Principal Reduction with Loan Modification-NationWide

    Posted Under: Financing, Foreclosure, Investment Properties  |  November 12, 2014 7:19 AM  |  82 views  |  No comments
    Keeping Your Home with the Principal Reduction Alternative (PRA) ProgramPRA is a unique loan modification program offered as part of the Making Home Affordable initiative to help distressed homeowners avoid foreclosure. Not all lenders offer PRA, even if they participate in other programs. As your mortgage loan servicer, we are motivated and empowered to help you avoid foreclosure. Thousands of Americans are getting relief with the PRA program - you could be one of them. Participating in PRA modifications are free to the borrower. 

    Contact Suncoast Mtg

    How Can PRA Help Me?Your loan balance may be reduced to provide you with affordable payments and loan terms more closely related to current market values. PRA offers you the opportunity to keep your home with an affordable home mortgage. 

    Are You Eligible?You may be eligible for PRA if:
    • Your mortgage is not owned or guaranteed by Fannie Mae or Freddie Mac.
    • You owe more than your home is worth.
    • You occupy the house as your primary residence.
    • You obtained your mortgage on or before January 1, 2009.
    • Your mortgage payment is more than 31 percent of your gross (pre-tax) monthly income.
    • You owe up to $729,750 on your 1st mortgage.
    • You have a financial hardship that has reduced your income or increased your expenses.
    • You have sufficient, documented income to support the lower modified payment.
    • You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion in connection with a mortgage or real estate transaction.

    Posted Under: Home Buying, Financing, Investment Properties  |  November 12, 2014 7:08 AM  |  81 views  |  No comments

    Mortgage applicants who can't provide tax returns or pay stubs to show their income are getting stated income loans again as companies such as SunCoast Mtg and Westport Mortgage chase customers they can no longer afford to ignore.

    Lenders say these aren't the same products as the so-called "liar loans" that were pervasive before the housing bust. Instead, the loans are going to borrowers such as small businessowners or investors buying properties they intend to rent who can demonstrate an ability to repay, verifiable through bank or brokerage statements. Lenders said they look for enough assets to pay six to 12 months of payments.

    "This is not a return to the wild and wooly days of, if you fogged the mirror, you can have a loan," "They have a smarter edge to them now."


    To avoid the housing-bust taint, the new stated income loans are being called such things as "alternative documentation loans," "portfolio programs," "alternative-income verification loans" and "asset-based loans."

    Borrowers usually have to have credit scores of about 700, though some lenders, like SunCoast Mtg will accept credit scores as low as 620. Credit scores range from 300 to 850, with 640 seen as the line between prime and subprime. Borrowers typically pay one-half to three-quarters of a percentage point above conventional mortgage rates.


    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  November 12, 2014 5:45 AM  |  82 views  |  No comments

    Stated Income Residential Loans

    Stated income home financingStated Income Loans have minimized income documentation and therefore have other methods of reducing the risk of the mortgage.  Our residential stated loan program are for self-employed and wage earners. Borrowers might use a stated earnings program wherein the earnings specified on the application will not be verified by the lender. For self employed customers evidence of self-employment as well as confirmation of all property accounts is required.  Evidence for self employment is normally a Certified Public Accountant letter. Whether you are self employed or are a wage earner, excellent credit (660 credit score or higher) is required to qualify for a stated income loan.  We have other programs for borrower with lower credit scores to 620 but to get the best rates and Loan to Value, a credit score of 720 or higher is preferred.

    Some stated loan programs do not require minimum asset reserves but for the best mortgage rates, verifiable liquid assets would be preferred and encouraged

    Call Arthur @ Suncoast Mtg 941.536.6740 or Check Out EZ Qualifyin

  • NO Income Loans Return w 650 Fico=Qualify Today-Close 15 Days

    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  September 18, 2014 5:50 AM  |  176 views  |  No comments
    NO Income on 1003
     Minimum 650 fico with 70% LTV
    Self Employed
    20% Down on  5/1= LOW RATES
    (Bank statement program, Non-prime)
    YES, Stated Income Loans are back againSelf Employed, Primary Residence,  Second Home, Investment-Availble in 40 states-call for info
    Eligible Borrowers:
    U.S. Citizen, Permanent Residents
    Purposes: Purchase, Rate and Term, Cash-Out Refinance.


     Resident Alien Loans are available

    Call Arthur @ SunCOast 941.536.6748 or  Email for Scenarios ArthurC@SunCoastMtg.com
  • Stated Income Loans NOW for W2 & Self Employed to 70% LTV

    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  September 16, 2014 9:08 AM  |  183 views  |  No comments

    SunCoast Mtg is one of few lenders in the Florida market offering  Stated Income loans. Currently this product is being offered in about 40 states across the nation.There is one catch, it must be a non-owner occupied property loan and you typically need 30% down.  This product is only offered ito borrowers whose credit score middle is above 650 due to the Qualified Mortgage rules.

    This is the perfect loan for self employed or W2 borowers who write off much of their income but have assets or deposits consistent with the income they are claiming.  Losses on tax returns for start up costs or special depreciation that trouble many self employed borrowers are typically not a problem with this product. And unlike hard money lenders, the interest rates are only about a half point higher than that of fully documented loans. Loans are availble from 100k-1 million for SFR, Condo & 2-4 Units with 100k- 5MM for units of 5+ for multi-family and mixed use. Also availble is Commercial loans from 750k- 5mm

    If you’d like more information, please contact Arthur Chandler 941.536.6748


  • Realtors & Brokers NEW Niche Programs for your Clients

    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  September 15, 2014 8:17 AM  |  187 views  |  No comments

    Niche Loan Products
    • 80% LTV to $1MM, 65% LTV to $4MM w/660 FICO - 1 day out of Foreclosure
    • 10+ Financed Properties OK - 70% LTV w/700 FICO
    • 95% LTV - Pledge Assets Program
    • Entity Vesting allowed - LLCs, Partnerships, Corporations, Sub S Corps, & all types of trusts
    • 60% LTV Foreign National to $1MM (2nd Home & Investment) - NO FICO required
    • 75% LTV to $1MM - 12 month Bank Statements
    • Non-Owner Occupied 85% LTV up to $417,000 - SFR/Condo
    • Quick Close VOE Only program for W2 employees up to 95% LTV for conforming loan amounts (1-4 units)
    • 60% LTV Mixed use property financing for commercial and residential properties
    • Apartment loans with 5+ units up to $10MM
    • Private Money financing up to 70% LTV for all property types
    Traditional Conforming, Government, and Jumbo Programs
    • All Conventional and High Balance Conforming programs (up to 10 properties financed)
    • Homepath O/O and N/O/O programs up to 90%
    • FHA Financing
    • 95% LTV Conventional Conforming loan - 3% gift funds from family - 720 FICO
    • 95% LTV w/ 660 FICO w/ No MI option
    • Jumbo - 10/1, 7/1, 5/1 - fully amortized ARM’s with interest only option
    • VA (Veteran’s Administration) Loans
    • USDA (US Dept. of Agriculture) Loans
    • HARP 2.0 w/ No LTV limitations on Owner and Non owner Occupied loans

    Arthur Direct 941.536.6748
  • Self Employed Borrowers Qualify with Bank Statements for income-NO Tax Returns

    Posted Under: Home Buying in Florida, Financing in Florida, Investment Properties in Florida  |  September 15, 2014 8:08 AM  |  190 views  |  No comments

    Self Employed Use Bank Stmts for income

     12 Month Personal Bank Statement Program- Business or Personal- Self Employed



     Recent Short Sales Allowed 1 day out of Foreclosure
     Owner Occupied with Short Sale Greater than 1 Year to 80%LTV
     Owner Occupied with a Bankruptcy or Foreclosure > 2 Years to 80% LTV
     Owner Occupied Cash Out w/550 FICO to $1,000,000
     Second Home and Non Owner to 75% LTV- No Reserves

    Owner Occupied    Second Home    Investment    

    Loan Amounts to 1,500,000    

    Direct: 941.536.6748

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