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Thread: Mortgage loans (including tougher scenarios) -Rates are down

  1. #1

    Mortgage loans (including tougher scenarios) -Rates are down

    Outside of writing for Bear Insider for the last 10 years, I've been in the mortgage business since graduating from Cal.

    Outside of regular conforming and jumbo loans, my bank (Banc of California) is able to do a lot of unique transactions, including loans for people that have had short sales or foreclosures with no waiting period, for those with bankruptcies with only a two year wait instead of seven, loans for self-employed clients with just one year of tax returns instead of two and for high asset clients based off of 12 months bank statements instead of two years tax returns.

    If you have any questions, feel free to pm me any time.
    Last edited by MoragaBear; 02-15-2015 at 11:08 PM. Reason: changed title to reflect rate decrease

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    Rates took an unexpected drop in the last month and a lot of people are taking advantage by getting into the purchase market or refinancing homes to reduce rates many thought they couldn't improve.

    We've also added several unique programs at Banc of California that most lenders can't do, including equity share loans that allow clients to qualify for higher loan amounts and pay no interest or payments on up to 12.5% contributed by an equity share company to cover half your down payment. We also can lend up to $2 million with just 15% down, do FHA streamline loans and FHA 203k or Fannie Mae Homestyle renovation loans for purchasing owner occupied homes that need to be rehabbed, lending on the future value after estimated improvements instead of on the sales price.

    Send me a pm with any questions and feel free to pass on my contact info to friends or associates.

  3. #3
    hi moraga -

    locations are all in lower-california, right?

    and shirley y'all heard the question before: why spell bank b-a-n-c? my first guess imagined banc is french, but suggests spain's catalan language.

    we paid off our last mortage in the early 90s. ever since do our level best "neither a borrower nor lender be"
    Neither a borrower nor a lender be,
    For loan oft loses both itself and friend,
    And borrowing dulls the edge of husbandry.
    # aka thread bump

  4. #4
    Sorry to miss the message earlier. Banc Home Loans is Banc of California's lending division and they're all over the country. We lend in 48 states

    As for the spelling, I suspect it's related to the private banking aspect of Banc of California to differentiate between standard brick and mortar banks.

  5. #5
    Should a 3 year award of Steven M. Thompson Physician Corps Loan Repayment Program that effectively pays off all student loan debt by the end of the term cancel out a loan as debt when it comes to income to debt ratios for a mortgage loan?

    Lenders in initial discussions refuse to count the repayment as income and also are still factoring student loan debt despite it being fully being repaid through this.

    If anyone has advice, can you pm me?

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