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NMLS# 243348
Full-Service Loan Originators
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HOME POSSIBLE®
The BEST HOME LOAN LENDER for FIRST-TIME Home Buyers
The LOAN Lady HOME LOANS
Home Possible® - Help more qualified borrowers overcome a leading barrier to homeownership, a low down payment mortgage solution. Grow opportunities:
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A 3% down payment with flexible sources of funding
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Robust features designed for the changing needs of today’s borrowers
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Housing options from single-family homes, manufactured housing, energy-efficient properties and renovations to the ever-growing condominium market
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Credit Cap Fees and additional savings for qualified borrowers
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Underwriting confidence with Loan Product Advisor ® (LPA®)
CLIENT TESTIMONIAL
"The Loan Lady Club was able to help me out with a pre-approval with in one hour!! Joanna and Neolani provided great customer service and help me out so quickly. Highly recommend!!"
Selina L., Parkway Estates, Sacramento, Northern California
HOME POSSIBLE® MORTGAGE FEATURES
THE MOST TRUSTED MORTGAGE LENDER
FLEXIBLE SOURCES OF DOWN PAYMENT
A down payment can originate from various sources, such as family contributions, employer assistance programs, secondary financing options, and sweat equity.
INCOME LIMITS
Qualifying income is limited to 80% of Area Median Income (AMI), effective July 28, 2019. There are no geographic limits on loan amounts. Use the Home Possible Income & Property Eligibility Tool to see income limits for specific properties or submit to Loan Product Advisor® to determine Home Possible income eligibility.
MAXIMUM LTV RATIOS
A low down payment option is available with a maximum of 97% loan-to-value (LTV), 105% total loan-to-value (TLTV) using Affordable Seconds®, and 97% home total loan-to-value (HTLTV) for single-unit properties.
MORTGAGE INSURANCE
Mortgage insurance (MI) for 1-unit properties can be terminated once the loan balance falls below 80% of the home's appraised value and specific cancellation criteria are satisfied. Additionally, MI coverage requirements are lessened for loan-to-value (LTV) ratios exceeding 90%.
PRICING
Eligible mortgages have capped credit fees. For details, please see Exhibit 19, Credit Fees, and Exhibit 19A, Credit Fee Cap Eligibility Criteria.
PROPERTY TYPE/ELIGIBLE PROPERTIES
1-4 units, condos, co-ops and planned-unit developments; manufactured homes are eligible with certain restrictions.
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