Products

 

Money REVERSE

Are you 62 years or older and live in your home?

Cancel your current mortgage and live in your house without ever making a monthly mortgage payment again.

  • You have to own your home
  • If you are married both spauses have to be 62 years or older
  • You can be under the protection of the Bankruptcy act or in the process of foreclosure
  • Does not take your income, debts or late payments into consideration
  • You can receive money now from the equity of your property
  • If your property is mortgage-free, you can get more money
  • You continue to be responsible for the Hazard Insurance, the Property taxes and the maintenance of the property
  • The house continues to be yours and you can leave it in inheritance
  • You can also sell it at any time
  • If you don't have a home, you can buy one

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The Reverse Mortgage or HECM is a program approved by the Federal Housing Department.

You can obtain more information reading the articles at Moneyhouse - Reverse Mortgage or accessing www.hud.gov/offices/hag/sft/hecm/rmtopten.cfm

The content provided on this website is not from, and was not approved by, HUD or FHA.

CONVENTIONAL Money

Fixed interest for the life of the loan. take advantage of the low interests!

  • To buy or refinance
  • Simple and quick transaction
  • Easy qualification
  • Does not require mortgage insurance
  • Up to a maximum of $417,000.00

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To apply for first morgages for residences FANNIE CONFORMING with a credit history (0.0.0) and a 780 credit score whose results are "APPROVE ELIGIBLE" of the "DU" system from $75,000.00 up to a maximum of $417,000.00. For loans over $417,000.00 and residentials units in condominiums the annual interest costs and closing costs will be higher.*. Up to a maximum LTV of 80% in first residential properties with up to 4 units and second of 1 residential unit with a mortgage insurance. applies for investment properties up to 75% of LTV. Income tax returns for the last two years will be required for persons who work on their own. Customers with a salary will be requiered written verification from the employer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subjects to credit quialifications. Certain restrictions apply.

Money VA

Because we value everything you have done for us. Thank you!

  • 100% financing to purchase or refinance
  • Personalized service to any part of the Island
  • Fixed interest for the term of the loan
  • Assumable mortgage
  • Widow may qualify
  • We process your Eligibility Certificate

Who can request a VA loan?

  • Veterans of the U.S. Armed Forces
  • Their widow
  • Eligible members of the National Guard of the Reserve
  • Residents of Puerto Rico

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For loan applications guaranteed by the Veterans Affairs Office. You must have the Certificate of Eligibility or Form 214. It is required that every application have a recommendation of "APPROVE ELIGIBLE" from the "DU" System of "FNMA". In purchases up to 100% of the price of sale or appraisal, whichever is lower. In refinancing up to a maximum of 100% of the appraised value, it is required that the property have an existing lien. The mortgage insurance "VA FUNDING FEE" is required.

Income tax returns for the last two years will be required for persons who work on their own. Customers with a salary will be requiered written verification from the employer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subjects to credit quialification. Certain restrictions apply.

Money FHA

To purchase with less--- and when refinancing you have more left over!

  • Up to 96.50% for purchase transactions
  • Up to 97.75% for cash-out refinancing
  • Up to 85% for cash-out refinancing
  • Applies to primary residences with up to 4 units
  • Assumable mortgage*
  • Up to a maximum of $385,250.00+

 

 

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For loans insured by the Federal Housing Department (FHA), +up to the maximum of the loan amount approved for each municipality. In purchases up to 96.5% of the sales price or appraisal, whichever is lower. This product requires FHA mortgage insurance (PMI). Subject to credit approval. All applications must have the recommendation of "APPROVE ELEGIBLE" of the DU system of FNMA. +The new client must qualify at the bank and obtain approval of the same to be able to assume the account. Income tax returns for the last two years will be required for persons who work on their own. Customers with a salary will be required written verification from the employer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subject to credit qualification. Certain restrictions apply. The content provided on this website is not from, and was not approved by, HUD or FHA.

Money JUMBO

For those who need more at the time of buying or refinancing Great!

  • For loans of $417,000 up to 1,000,000*
  • Up to 90% of the LTV w/PMI to purchase and refinance without surplus*
  • To purchase your main residence, second and/or investment property
  • Simple and quick processing

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For applications of first residential mortgages with a credit history (0.0.0) and a 780 credit score whose results are "APPROVE ELIGIBLE" of the "DU" system from $417,001.00 up to the temporary maximum of $1,000,000. *In purchases for main residences up to a maximum of 90% x/PMI of the price or sale or appraisal, whichever is lower, and in refinancing on main residences without surplus up to a maximum LTV of 90% including private mortgage insurance (MGIC). In refinancing with surplus over the main residence up to 60% of the value of the property. In purchases of investment properties up to 75% of the price of sale or appraisal, whichever is lower, and in the case of purchase of investment properties with up to 4 units up to 65% of the price of sale or appraisal, whichever is lower. Income tax returns for the last two years will be required for persons who work on their own. Customers with a salary will be required written verification from the emploer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subjects to credit quialification. Certain restrictions apply.

Money 203K

Money to buy and make repairs in one loan. What savings!

  • Up to 96.5% of the sales price, plus improvements*
  • One transaction, one fixed payment
  • Applies to refinancing+
  • Up to a maximum of $385,250.00**
  • Ideal to purchase and restore repossessed properties

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For loans insured by the Federal Housing Administration (FHA) under the 203K program. **Up to the maximum loan amount approved for each municipality. *In purchases up to 96.5% of the sales price and the estimate of improvements or appraisal, whichever is lower. +In refinancing, up to 85% of the projected value of the property, can only include the cost of the improvements in this surplus. A written estimate by a contractor approved by the DACO is required. The money of the improvements will be disbursed in stages that are finalized and certified by the appraiser. The maximum for improvements is up to $35,000.00. This product requires an FHA mortgage insurance (PMI). Subject to credit approval. It is required that every application have a recommendation of "APPROVE ELIGIBLE" of the "DU" system of the "FHMA". Subject to qualification. Income tax returns for the last two years will be required for persons who work on their own. Customers with a salary will be required written verification from the employer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subject to credit qualifications. Certain restrictions apply. The content provided on this website is not from, and was not approved by, HUD or FHA.

Money NON-CONFORMING

The perfect alternative for properties or clients that are not eligible for loans secured by the federal goverment. It can be done!

  • To purchase or refinance
  • No returns required to qualify
  • Greater flexibility
  • Up to 89% without private mortgage insurance*
  • Eligible condominiums not approved by HUD
  • Up to $1,000,000

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For applications for first mortgages on residences with a credit history (0.0.0) and a 780 credit score whose results are "APPROVE ELIGIBLE" of the "DU" system from $75,000.00 up to a maximum of or appraisal, whichever is lower, for main residence. In refinancing up to maximum LTV of 80% in first residential properties with up to 4 units and second of 1 residential unit with a mortgage insurance. *Compiled financial statements will be required, certified by a CPA, plus bank statements of all your bank accounts that sustain the income of the financial statement. Customers with a salary will be required written verification from the employer, a W2 Form and their last two payroll stubs. Does not include closing costs, nor additional costs. Subject to credit quialification. Certain restrictions apply.

Money RURAL

Mortgage loan to buy your house without money. You can have it!

  • Guaranteed by the U.S. Goverment
  • 100% of the value of the property or appraisal+
  • Gives you the closing costs
  • Rural areas eligible
  • No down payment necessary to buy
  • You can finance the closing costs*

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For loans guaranteed by the federal housing service of the U.S. Department of Agriculture. Applies only to certain rural areas. +Up to 100% of the PV or appraisal, whichever is lower. *Closing costs may be inlcuded in the financing in the propertion that the value exceeds the price of sale. Subject to credit apporval. Certain terms, conditions and restrictions apply. O.C.F.I. Lic. 91-040.