At this time, we service California, Texas, Virginia, and Maryland.
We currently do not do Refinance Cash-Out in Texas.
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:
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.
An advisor will inform you about any additional requirements.
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:
If you are self-employed:
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.
An advisor will inform you about any additional requirements.
If you are a salaried employee or a wage-earner:
If you are self-employed:
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.
An advisor will inform you about any additional requirements.
If you are a salaried employee or a wage-earner:
If you are self-employed:
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.
We will guide you if other additional requirements are needed.
We will guide you if other additional requirements are needed.
We will guide you if other additional requirements are needed.
We will guide you if other additional requirements are needed.
We will guide you if other additional requirements are needed.
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.