At this time, we service California, Texas, Virginia, and Maryland.

We currently do not do Refinance Cash-Out in Texas.

You can apply at iApprove Lending for these properties:

• Single-family unit detached or attached
• PUD detached or attached properties
• Condominiums
• 2-4 unit properties

We do not service commercial properties or mobile housing units.

No, we do not do hard money loans.

No, we do not service Title 1 loans.

Yes, we do. If it is in the borrower’s best interest, we will offer these products if there is a guarantee you will live financially comfortably and within your means.

• A minimum 3% down payment
• A minimum FICO® Score of 680
• Down payments can include a gift
• Sellers can pay for your closing costs
• Monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 50% of your monthly pre-tax income.

An advisor will inform you about any additional requirements.

• FHAs are for primary properties (where you intend to live),
• Property conditions meet housing codes
• A minimum 3.5% down payment
• A minimum FICO® Score of 660
• You can finance money to cover the upfront mortgage insurance premium (UFMIP) into the loan.
• Monthly housing expenses cannot exceed 47% of your pre-tax income
  Total Monthly combined liabilities (e.g., housing expenses, credit card payments, loan payments) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

We recommend Conventional in most cases.

FHA is great for first-time buyers – its low down payment requirement is a great way to get your foot in the door of the housing market. FHA loans are only for primary residences.

Every situation is unique; our loan officers will guide you in the best mortgage program and terms that suit your needs.

An appraisal report is typically required on purchase transactions, although some lucky buyers might receive Property Inspection Waivers.

If you are a salaried employee or a wage-earner:

• Two forms of identification: Social Security Card (or SSA-89 form), Driver’s License, Passport, Green Card
• Pay stubs covering the most recent 30 days
• W-2s for the last two years,
• Asset information such as bank account statements, 401(K) or retirement account statements, stock or mutual funds statements

If you are self-employed:

• Two forms of identification: Social Security Card (or SSA-89 form), Driver’s License, Passport, Green Card
• Most recent 2-year personal tax returns
• Most recent 2-year business tax returns if your business is incorporated
• Personal asset information such as bank account statements, 401(K) or retirement account statements, stock or mutual funds statements

Any additional documents will depend on your loan scenario, which we will happily guide you. If you are not eligible for an FHA or Conventional product, our Loan Officer will see if you qualify for Non-QM.

It depends on your motivation. Our loan officers will give you financial options for the best outcome.

• a minimum FICO® Score of 640
• Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 50% of your monthly pre-tax income.

An advisor will inform you about any additional requirements.

• A minimum FICO® Score of 640
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income

If you are a salaried employee or a wage-earner:

• Two forms of identification: Social Security card, Driver’s License, Passport, Green Card, or SSA-89 form
• Pay stubs covering the most recent 30 days
• W-2s for the last two years
• Asset information such as bank account statements, 401(K) or retirement account statements, stock or mutual funds statements

If you are self-employed:

• Two forms of identification: Social Security Card (or SSA-89 form), Driver’s License, Passport, Green Card
• Most recent 2-year personal tax returns
• Most recent 2-year business tax returns if your business is incorporated
• Personal asset information such as bank account statements, 401(K) or retirement account statements, stock, or mutual funds statements

Any additional documents will depend on your loan scenario, which we will happily guide you. If you are not eligible for an FHA or Conventional product, our Loan Officer will see if you qualify for Non-QM.

Typically, the refinance pays off second mortgages. We will consolidate both loans into one new first mortgage, and you will only have one payment each month. Otherwise, you can subordinate the current second mortgage to refinance only your existing first mortgage.

You can take at least 80% on the house equity.

• A minimum FICO® Score of 680
• You must have been on title for at least six months.

An advisor will inform you about any additional requirements.

• FHAs are for primary properties (where you intend to live).
• Property conditions meet FHA standards
• A minimum FICO® Score of 660
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Total monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income
• Maximum Loan-to-Value is 80%
• Payment history requirements:
• Proof that borrower(s) completed the last 12 monthly payments or ever since the borrower obtained the loan, they completed a minimum of 6 monthly payments

If you are a salaried employee or a wage-earner:

• Two forms of identification: Social Security Card (or SSA-89 form), Driver’s License, Passport, Green Card
• Pay stubs covering the most recent 30 days
• W-2s for the last two years
• Asset information such as bank account statements, 401(K) or retirement account statements, stock or mutual funds statements
• You are on title for at least six months.

If you are self-employed:

• Two forms of identification: Social Security Card (or SSA-89 form), Driver’s License, Passport, Green Card
• Most recent 2-year personal tax returns
• Most recent 2-year business tax returns if your business is incorporated
• Personal asset information such as bank account statements, 401(K) or retirement account statements, stock or mutual funds statements
• You are on title for at least six months.

Any additional documents will depend on your loan scenario, which we will happily guide you. If you are not eligible for an FHA or Conventional product, our Loan Officer will see if you qualify for Non-QM.

We recommend Conventional if the borrower has optimal credit.

FHA is great for first-time buyers and those building up credit – its low down payment requirement is a great way to get your foot in the door of the housing market. FHA loans are only for primary residences.

Every situation is unique; our loan officers will guide you in the best mortgage program and terms that suit your needs.

• A minimum 3% down payment is possible
• A minimum FICO® Score of 620
• Down payments can be from a gift
• Sellers, real estate agents, or lenders can pay for your closing costs
• Monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 50% of your monthly pre-tax income

• A minimum FICO® Score of 620
• Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 50% of your monthly pre-tax income.

• A minimum FICO® Score of 620
• You must have been on title for at least six months.

• FHAs are for primary properties (where you intend to live),
• Property conditions meet housing codes
• A minimum 3.5% down payment
• A minimum FICO® Score of 580
• You can finance money to cover the loan’s upfront mortgage insurance premium (UFMIP).
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Total Monthly combined liabilities (e.g., housing expenses, credit card payments, loan payments) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

• A minimum FICO® Score of 580
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

• FHAs are for primary properties (where you intend to live).
• Property conditions meet FHA standards
• A minimum FICO® Score of 580
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Total monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income
• Maximum Loan-to-Value is 80%
• Payment history requirements:
• Proof that borrower(s) completed the last 12 monthly payments or ever since the borrower obtained the loan, they completed a minimum of 6 monthly payments

We will guide you if other additional requirements are needed.

• FHAs are for primary properties (where you intend to live),
• Property conditions meet housing codes
• A minimum 3.5% down payment
• A minimum FICO® Score of 580
• You can finance money to cover the loan’s upfront mortgage insurance premium (UFMIP).
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Total Monthly combined liabilities (e.g., housing expenses, credit card payments, loan payments) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

• A minimum FICO® Score of 580
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Monthly combined liabilities (e.g., card payments, credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income

We will guide you if other additional requirements are needed.

• FHAs are for primary properties (where you intend to live).
• Property conditions meet FHA standards
• A minimum FICO® Score of 580
• Monthly housing expenses cannot exceed 47% of your pre-tax income
• Total monthly combined liabilities (e.g., credit card payments, loan payments, housing expenses) do not exceed 57% of your monthly pre-tax income
• Maximum Loan-to-Value is 80%
• Payment history requirements:
• Proof that borrower(s) completed the last 12 monthly payments or ever since the borrower obtained the loan, they completed a minimum of 6 monthly payments

We will guide you if other additional requirements are needed.

Non-QM programs have different rates and rules from Conventional and FHA loans that allow self-employed borrowers (who typically aren’t on a traditional payroll system) to apply for a loan.

There is no emphasis on tax returns and pay stubs in the processing phase. Our adaptable lending process allows us to permit alternative documentation instead of pay stubs, tax returns, and W2s.

A Non-QM loan can help qualify borrowers with many income tax write-offs and alternative documentation. The program usually allows for higher loan amounts than Conventional and FHA loans.

We have different Non-QM Loans for primary, secondary, and investment homes.

Premier Alt-Doc: commonly used amongst business owners (self-employed) and wage earners.

DSCR: aka Investor Alt-Doc, this program is specifically for investment properties. DSCR helps borrowers qualify based on rental income versus combined monthly payment obligations of the property (principal and interest + property tax + insurance). The investor’s incomes are not relevant to obtaining a loan.

ITIN: Individual Tax Identification Number (ITIN) loans are for people not eligible for Social Security numbers. ITINs apply to both resident and nonresident aliens for tax-reporting purposes. There is no seasoning for Refinance Cash-Out.

Foreign-National: this program is for borrowers who are non-resident aliens, legally visiting the U.S. periodically, and want to purchase a secondary property or investment property during their visits to the states.

This program differs from ITIN because ITIN is for resident and non-permanent resident aliens who live in the states, while Foreign National is for visiting aliens.

A loan officer will happily guide you on the best option to choose.

Doing a loan at iApprove lending is more secure than other banks or lenders. Most lenders will take your loan to an off-site processing center because they have no personal knowledge of doing a Jumbo loan. We keep your loan in-house.

iApprove Lending can often match or beat large banks’ prices.

Typically, Jumbo Loans would require higher standards in credit and income levels. You can contact our loan officers for further elaboration.