• REVERSE MORTGAGE INFO
  • CO-OP REVERSE MORTGAGES!
  • HOW DO I QUALIFY?
  • FINANCIAL PLANNERS
  • REVERSE MORTGAGE MYTHS
  • WHAT ARE THE SAFEGUARDS?
  • REVERSE PROS AND CONS
  • FAQ -QUESTIONS PEOPLE ASK
  • IS IT RIGHT FOR ME?
  • NON-BORROWING SPOUSE
  • HECM LINE OF CREDIT
  • WHEN IS IT DUE?
  • JUMBO REVERSE MORTGAGES
  • HECM COUNSELING
  • REVERSE MORTGAGE STEPS
  • PURCHASE WITH REVERSE
  • KATHIE ADLER-ORIGINATOR
  • DOCUMENTS-UNDERWRITING
  • FIRST-TIME HOMEBUYERS
  • FINDING THE RIGHT LOAN
  • BANK STATEMENT LOANS
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • BLEMISHED CREDIT
  • REMEMBER WHEN...
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    • REVERSE MORTGAGE INFO
    • CO-OP REVERSE MORTGAGES!
    • HOW DO I QUALIFY?
    • FINANCIAL PLANNERS
    • REVERSE MORTGAGE MYTHS
    • WHAT ARE THE SAFEGUARDS?
    • REVERSE PROS AND CONS
    • FAQ -QUESTIONS PEOPLE ASK
    • IS IT RIGHT FOR ME?
    • NON-BORROWING SPOUSE
    • HECM LINE OF CREDIT
    • WHEN IS IT DUE?
    • JUMBO REVERSE MORTGAGES
    • HECM COUNSELING
    • REVERSE MORTGAGE STEPS
    • PURCHASE WITH REVERSE
    • KATHIE ADLER-ORIGINATOR
    • DOCUMENTS-UNDERWRITING
    • FIRST-TIME HOMEBUYERS
    • FINDING THE RIGHT LOAN
    • BANK STATEMENT LOANS
    • VA HOME LOANS
    • MANUFACTURED HOMES
    • BLEMISHED CREDIT
    • REMEMBER WHEN...
  • REVERSE MORTGAGE INFO
  • CO-OP REVERSE MORTGAGES!
  • HOW DO I QUALIFY?
  • FINANCIAL PLANNERS
  • REVERSE MORTGAGE MYTHS
  • WHAT ARE THE SAFEGUARDS?
  • REVERSE PROS AND CONS
  • FAQ -QUESTIONS PEOPLE ASK
  • IS IT RIGHT FOR ME?
  • NON-BORROWING SPOUSE
  • HECM LINE OF CREDIT
  • WHEN IS IT DUE?
  • JUMBO REVERSE MORTGAGES
  • HECM COUNSELING
  • REVERSE MORTGAGE STEPS
  • PURCHASE WITH REVERSE
  • KATHIE ADLER-ORIGINATOR
  • DOCUMENTS-UNDERWRITING
  • FIRST-TIME HOMEBUYERS
  • FINDING THE RIGHT LOAN
  • BANK STATEMENT LOANS
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • BLEMISHED CREDIT
  • REMEMBER WHEN...

Blemished Credit - Not the End of the World

  

Poor Credit Doesn't Necessarily Mean "NO".

Mortgage programs that can work for you.

Has your credit rating dropped? Whatever the reason: bankruptcy, foreclosure, repossessions, late mortgage payments, late credit card payments, charge offs, or all of the above, you may be able to qualify for a mortgage.  Of course, you may need credit repair depending on your credit history.  But it is possible to find a loan that's right for you once your credit is repaired, your credit score is adequate, and your income is sufficient. Don't get discouraged -- get going on your new, improved credit. 


ONE MORTGAGE INSTEAD OF TWO
Are you tired of having two mortgages?  You can use the equity in your home to consolidate your current mortgages into one single mortgage payment rather than a first mortgage and an equity loan. You might want to take a portion of the money you'll be saving each month and invest it either into your current mortgage (pay it off faster) or establish a savings fund.


REFINANCE TO CONSOLIDATE DEBT
You can consolidate debts by refinancing your home as long as there is sufficient equity and as long as you qualify with your credit. Perhaps you would like to reduce the term of your mortgage from 30 years to 15 years. You may be able to reduce your monthly payments dramatically  and with a better interest rate from the one you have now..

Debt consolidation can provide you with a practical financial plan if you already own a home.  In contrast, credit cards charge you daily compounded interest and can range from 9% to 24% so you can actually be paying up to three times more interest on credit cards.  Start saving money instantly by refinancing and consolidating all of your debts into one low mortgage payment.  Again, you can apply the savings toward paying down your mortgage.

Mortgage ApplicAtions Made Easy

We make it easy on you. Purchase, refi? Let the experts help you with the home of your dreams.


Whether you are buying your first property or your fourth, we understand it can be a big and often daunting decision. That's why we want to make applying for your home loan quick and easy. Your loan officer will need the following documents from you:


Please have these items ready:


  1. Current and Previous Addresses (2 years)
  2. Property Information (if applicable)
  3. Current and Previous Employment Information and dates including monthly salary
  4. Bank Account Statements
  5. Two years tax returns
  6. Current monthly housing expenses such as rent and mortgage payments
  7. Address and Market Value information for properties you own, including taxes & insurance
  8. Sources and Income Amounts for all Borrowers. If a W-2 employee, pay stubs for the last 30 days
  9. If working with a real estate agent, their name, company and phone number.


Working with your loan specialist and providing documents makes it easy on everyone involved and lessens the stress for all concerned.

BUYING A HOME - THE CHALLENGE


Buying a home can be an exciting time. Are you looking to be pre-qualified for a new home? Sellers want to know you can afford to buy their home. Being pre-qualified (not pre-approved) by a lender is a plus. It helps your realtor when presenting information to the seller and shows the seller that you are serious and want to purchase the home they are selling.   


Don't rush into buying a home. Consider how will you pay for it. While it's true that renting is a waste of money that can be applied to owning a home, getting in too deep too soon is not a good idea. You must be able to afford a monthly mortgage payment.  


Questions? 888-843-9797 or 631-804-9044


Dreams Do Come True!

 

A home is waiting just for you.

You may have looked far and wide for the right home. And maybe you've exasperated your realtor in the process.  But finding a house that's just the right fit can take time. Once you find that special place, that's where expertise and experience comes in. You need the right loan, the right mortgage, the right rate AND the right mortgage company.  Are you working with a builder and have a home under construction?  We will help you get your loan closed so you can move into that place you'll call home.


FHA LOAN PROGRAM - 1 TO 4 UNIT PROPERTIES

The Federal Housing Authority (FHA) insures loans so that lenders can offer first-time home buyers better deals. The FHA allows a down payment of 3.5 percent—significantly less than the typical 10 to 25 percent usually required on a purchase.  The FHA is also much more flexible when it comes to to credit score requirements than lenders. You can get an FHA loan with a credit score as low as 580, but you’ll be required to make a down payment of at least 10 percent.  Another popular allure is that the FHA allows for the down payment funds to come from gifts from family members, grants, or assistance programs. The agency is also lenient when it comes to your debt-to-income ratio, making this an ideal choice for someone with student loan debt. Note:  You can include the costs of energy improvements into an FHA Energy-Efficient Mortgage.  


FANNIE MAE HOME READY - FOR LOW TO MODERATE INCOMES

This category of borrowers with good credit can buy a home for as little as 3% down.  


MEET THE HOME READY BUYER

  • Have low-to-moderate income
  • Are first-time or repeat homebuyers
  • Have limited cash for down payment
  • Credit score is ≥680
  • Have supplemental boarder or rental income
  • Looking for low-cost refinancing options  Unlike government-insured loans, with Home Ready®, borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%. This can result in lower monthly payments down the road. **Restrictions apply.  


LOAN FEATURES FLEXIBLE FUNDING

  • With Home Ready cash, down-payment, and closing costs can come from multiple sources, including gifts, grants, and Community Seconds® — with no minimum personal funds required.
  • https://singlefamily.fanniemae.com/originating-underwriting/mortgage-products/homeready-mortgage

 

FHA MAY BE YOUR ANSWER:

If you have limited resources for a down payment, FHA may be the way to go.  FHA loans have been helping people become homeowners since 1934. The Federal Housing Administration (FHA), which is part of HUD, insures the loan, therefore, you have:  


* Low down payments  

* Low closing costs 

* Easy credit qualifying


You will be charged PMI, Primary Mortgage Insurance, if you are not putting down a 20% down payment. The PMI fee protects the lender should should you be unable to pay your mortgage. To sum it up, when it comes to PMI, if you have less than 20% of the sales price or value of a home to use as a down payment, you will have PMI added to your FHA loan.  You can refinance to a conventional loan and get rid of PMI when your mortgage balance  decreases to 80% of the original purchase price. Then you can request it be removed.


Questions?  888-843-9797 or 631-804-9044 

VA LOANS - CLICK HERE

Contact kathie adler 888-843-9797 or 631-804-9044

  • REVERSE MORTGAGE INFO
  • CO-OP REVERSE MORTGAGES!
  • HOW DO I QUALIFY?
  • FINANCIAL PLANNERS
  • REVERSE MORTGAGE MYTHS
  • WHAT ARE THE SAFEGUARDS?
  • REVERSE PROS AND CONS
  • FAQ -QUESTIONS PEOPLE ASK
  • IS IT RIGHT FOR ME?
  • NON-BORROWING SPOUSE
  • HECM LINE OF CREDIT
  • WHEN IS IT DUE?
  • JUMBO REVERSE MORTGAGES
  • HECM COUNSELING
  • REVERSE MORTGAGE STEPS
  • PURCHASE WITH REVERSE
  • KATHIE ADLER-ORIGINATOR
  • DOCUMENTS-UNDERWRITING
  • FIRST-TIME HOMEBUYERS
  • FINDING THE RIGHT LOAN
  • BANK STATEMENT LOANS
  • VA HOME LOANS
  • MANUFACTURED HOMES
  • BLEMISHED CREDIT
  • REMEMBER WHEN...

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