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Interest Only Loans
Full Doc Loans
Interest only allows borrowers to have flexibilities that traditional loans don't.

Ask your borrowers this question:
What portion of their mortgage payment is tax deductible? Only the interest, then why pay principal?Your borrower's house will appreciate or depreciate regardless of how much principal is paid each month; therefore, paying zero principal and diversifying into other assets or savings will allow borrowers to have real estate and financial assets working together to create a more diversified plan in building net worth or an estate.

What if a borrower wants to pay principal (regardless of the benefits of interest only)?FundNation's Capital Advantage loans recast themselves upon the initial interest rate change; thereby, allowing a borrower to manage or customize his/her cashflow. This is beneficial for borrowers who are commissioned, bonus, self-employed, or who have a house to sell. They may take a higher mortgage balance today and reduce it in the future to a more comfortable level and reduce their monthly payment.

Capital Advantage (Full Doc)
Capital Advantage
  Stated Income
No Ratio
Capital Advantage 80/20
  FundNation 2nd or outside 2nd
  Maximum 1st mortgage is $500K w/ FundNation 2nd or $800K w/ outside 2nd
  Minimum 1st loan amount is $100,000
  DTIs up to 50%
  Purchase with FundNation 2nd, Cash-out with outside 2nd
 

660 Middle credit score with FundNation 2nd, 650 middle score with outside 2nd

Available Downloads:

Interest Only Rate Sheet
Capital Advantage Matrix
Capital Advantage Underwriting Guidelines
One and Six Month LIBOR Disclsoure
3/6 ARM Disclosure
5/6 ARM Disclosure
Six MONTH LIBOR with Caps Disclosure
Interest Only TIL Instruction Sheet
Download a history of the One Month LIBOR
Broker TIL Set Up Form
Piggy Back Second Mortgage Matrix

Lock-In procedures
DO Registration
DO Access
New Loan Submission Worksheet
Conventional Underwriting Guidelines
 

 

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