Posts tagged program
Community Heroes Program - Colorado Only

PROGRAM ONLY AVAILABLE IN COLORADO. Cherry Creek Mortgage Co., Inc. NMLS #3001. *Loan-to-Value, or LTV, is the amount of money borrowed as a percentage of the home’s value. For example, a homeowner with a $80,000 loan balance for a home worth $100,000 has an LTV of 80 percent.

This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Heroes in our communities spend their careers dedicated to serving others, and we believe they should have a great place to call home. Our Community Heroes Program offers low down payment options for individuals who make a difference every day.

Eligible borrowers:

Public or private educational institution employees

Fire department employees

Police department employees

Nurses (all designations, including certified nursing assistants)

Emergency Medical Technicians and Paramedics

Active or former Military personnel

This program is offered in partnership with Bellco Credit Union and Arch Mortgage Insurance Company. Loan servicing is provided by Bellco Credit Union, so home buyers must join Bellco prior to final loan approval.

HELPING COMMUNITY HEROES BECOME HOME OWNERS

Call me today to learn about this great opportunity for our community heroes!

Benefits of the program include:

97.01% – 99% loan-to-value financing options allow home buyers to buy a home with less money out of pocket*

Home buyers can use gifts and grants to help fund their down payment and closing costs

Lower mortgage insurance requirements compared to other similar mortgage products

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Referral Only - Your Home Opportunity Program - Not Available in All States

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

*Loan-to-Value, or LTV, is the amount of money borrowed as a percentage of the home’s value. For example, a homeowner with a $80,000 loan balance for a home worth $100,000 has an LTV of 80 percent.

**Mortgage insurance (MI) is an expense that is typically included in many government-backed loans such as FHA. MI helps protect the lender and insurer if you stop paying on the loan.

Your Home Opportunity provides low down payment, fixed-rate financing with NO MORTGAGE INSURANCE

Who is the Your Home Opportunity loan program for?

This low cost, low down payment mortgage program is available for home buyers looking to reduce their out-of-pocket costs and take advantage of fixed-rate financing.

Can the Your Home Opportunity program help a first-time home buyer?

The Your Home Opportunity loan program is designed to help first-time buyers achieve their goal of homeownership by improving affordability, reducing the down payment requirement, and providing the payment protection of a competitive fixed interest rate.

The Your Home Opportunity program:

Pairs our 30-year fixed-rate loan option with the 30-Year fixed-rate 2nd mortgage (which is an interest-only loan).

Allows home buyers to finance up to a combined loan-to-value ratio* of 101%.

Does not require monthly mortgage insurance (MI) payments** that are typically included with low down payment mortgage loans.

Important things to know about the Your Home Opportunity Program:

Eligible states include: AL, AR, CO, CT, FL, IL, IA, IN, KS, LA, MD, NJ, NM, OH, OK, OR, PA, TN, and UT.

For mortgages exceeding 95% loan-to-value, one borrower must be a first-time home buyer as defined by Fannie Mae.

A minimum FICO score of 660 and a debt-to-income ratio less than 50% are required.

Financing options include a 95% or 97% first mortgage combined with a 4% second mortgage for down payment assistance.

Annual income must not exceed 140% of the Area Median Income (AMI) as determined by Fannie Mae.

Fannie Mae-approved home buyer education is required for all borrowers.

Eligible property types include one-unit single family detached and attached homes, planned unit developments, and condos that meet Fannie Mae eligibility requirements and are held as a primary residence (not a rental).

Your Home Opportunity helps you fund your dream home with the assurance of a fixed rate and payment.

Reach out to me today to see how the Your Home Opportunity Program can help you make the leap to homeownership.

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Payment Assurance Flyer

• Provide up to six months of mortgage payments

• Offer up to $1500 per month directly to your

mortgage servicer on your behalf

• Help reduce pressure of late payments or default

• Allow you more time to secure new employment

• Enable you to avoid late payments and fees

• Minimize the stress you feel over how the job

loss will affect your finances

Job loss can be distressing, and it is even worse when

the fear of losing your home is part of the equation.

How would your mortgage payment be

made if you were to lose your job?

We understand this is a real concern, especially when

you have other expenses such as student loans, kids,

and savings goals. Our Payment Assurance Program

was designed with you in mind.

For no additional cost to you, if you experience an

involuntary job loss within the first two years after

closing*, we:

P R O G R A M

P A Y M E N T

ASSURANCE

CHERRY C R E E K MORTGAGE

Here are a few examples of how it works:

John is responsible for his full $1200 monthly mortgage

payment when his employer is bought out and his position is

eliminated. He begins looking for new employment and initiates

the process of his Payment Assurance Program benefit which

pays his mortgage payment on his behalf. John’s job loss has

no negative effect on his credit because his mortgage payment

continues to be made on time.

Robert earns 55% of his household income, and his wife

Stacia earns 45%. Their monthly mortgage payment is

$1500. Robert’s company lays him off, and he files for

unemployment while he searches for a new employer.

Meanwhile, the Payment Assurance Program pays his portion

of the mortgage payment based on his lost income. Stacia pays

45% of $1500, which is $675, and the plan pays the remaining

$825, thus avoiding late payments and fees so Robert can

focus on his job search without fear of losing their home.

The Payment Assurance Program is your peace of mind! Talk to

me today for more details.

*Additional terms apply.

The number one reason people fail to meet their financial obligations is the loss of their job or a drastic reduction

of income. Life happens, and we understand. To help you be more confident in your decision to buy a home,

Cherry Creek Mortgage is including our Payment Assurance Program with your loan. We want you to think of

us as your “first responder” in case you lose your job because we’re here to help.

Cherry Creek Mortgage Co., Inc., NMLS #3001. This material is informational only. This is not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/

Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or

qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. July 2017.

*The Payment Assurance Program is a non-contributory job loss plan backed through an “Excellent” rated third party carrier. The information herein is solely a summary. The benefits plan contains restrictions

on eligibility, vesting, and waiting periods. The actual terms, conditions and limitation of the benefits plan are established by the commercial policy documents. Cherry Creek Mortgage Company is not affiliated

with the Payment Assurance benefits program or with the carrier of this plan. The benefits plan is subject to availability at the time of loan closing and may be modified or withdrawn without notice.

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Your Home Opportunity Program - Not Available in All States

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

*Loan-to-Value, or LTV, is the amount of money borrowed as a percentage of the home’s value. For example, a homeowner with a $80,000 loan balance for a home worth $100,000 has an LTV of 80 percent.

**Mortgage insurance (MI) is an expense that is typically included in many government-backed loans such as FHA. MI helps protect the lender and insurer if you stop paying on the loan.

Your Home Opportunity provides low down payment, fixed-rate financing with NO MORTGAGE INSURANCE

Who is the Your Home Opportunity loan program for?

This low cost, low down payment mortgage program is available for home buyers looking to reduce their out-of-pocket costs and take advantage of fixed-rate financing.

Can the Your Home Opportunity program help a first-time home buyer?

The Your Home Opportunity loan program is designed to help first-time buyers achieve their goal of homeownership by improving affordability, reducing the down payment requirement, and providing the payment protection of a competitive fixed interest rate.

The Your Home Opportunity program:

Pairs our 30-year fixed-rate loan option with the 30-Year fixed-rate 2nd mortgage (which is an interest-only loan).

Allows home buyers to finance up to a combined loan-to-value ratio* of 101%.

Does not require monthly mortgage insurance (MI) payments** that are typically included with low down payment mortgage loans.

Important things to know about the Your Home Opportunity Program:

Eligible states include: AL, AR, CO, CT, FL, IL, IA, IN, KS, LA, MD, NJ, NM, OH, OK, OR, PA, TN, and UT.

For mortgages exceeding 95% loan-to-value, one borrower must be a first-time home buyer as defined by Fannie Mae.

A minimum FICO score of 660 and a debt-to-income ratio less than 50% are required.

Financing options include a 95% or 97% first mortgage combined with a 4% second mortgage for down payment assistance.

Annual income must not exceed 140% of the Area Median Income (AMI) as determined by Fannie Mae.

Fannie Mae-approved home buyer education is required for all borrowers.

Eligible property types include one-unit single family detached and attached homes, planned unit developments, and condos that meet Fannie Mae eligibility requirements and are held as a primary residence (not a rental).

Your Home Opportunity helps you fund your dream home with the assurance of a fixed rate and payment.

Reach out to me today to see how the Your Home Opportunity Program can help you make the leap to homeownership.

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ITIN Mortgage Product Flyer

• PURCHASE, REFINANCE, INVESTMENT PROPERTIES

• 15% DOWN PAYMENT (GIFT ALLOWED) – CALL FOR DETAILS

• 2 YEARS TAX RETURNS

• 2 YEARS W2 OR 1099

• 3 MONTHS BANK STATEMENTS

• PASSPORT, ITIN CARD, DRIVERS LICENSE

ITIN MORTGAGE PROGRAM

The material provided here is intended as educational and informational only and is for distribution to real estate or financial professionals and is not intended for distribution to consumers; this does not constitute an offer to lend or to recommend available products. Product is only available in: AZ, CA, CO, CT, FL, IL, MD, NC, NJ, NV, PA, SC, TX, WA.

WE BELIEVE IN THE AMERICAN DREAM FOR ALL!

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Medical Doctor - Alliant - Medical Professional Program

Cherry Creek Mortgage Co., Inc. NMLS #3001. Cherry Creek Mortgage is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and is not an offer to lend or recommend available products. This is not an advertisement to extend credit as defined by Regulation Z, nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice.

Our MEDICAL PROFESSIONAL MORTGAGE PROGRAM is a

great resource

for new doctors

If you are a medical professional who is looking for mortgage financing, please contact me to learn more about this unique program.

Our Medical Professional Program accommodates these common issues by offering the following guidelines and benefits:

Student loans that are deferred for at least 12 months are excluded from debt ratio calculations.

Up to 95% of the purchase price of a home (or appraised value, if lower) may be borrowed, and loan amounts up to $850,000 are allowed.

Program is available for:

––

Actively-practicing medical doctors, dentist or dental surgeons, medical teaching professors.

––

Newly-licensed medical residents who are currently employed or are in residency.

––

Newly licensed medical, dentists or

dental students who are about to begin their new employment/residency within 90 days of closing.

The average doctor graduates from medical school with a considerable amount of student loan debt. This high credit burden combined with significant changes in income from residency to practice can make it difficult to acquire financing for a new home.

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HomeOne Low Down Payment Flyer

Agent Name Job Title Here

Office: (XXX) XXX-XXXX

Mobile: (XXX) XXX-XXXX

agentname@ccmclending.com

XXXX Street Name

City Name, ST XXXXX

NMLS# XXXXXX

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Program Features and Benefits

Freddie Mac’s new HomeOne program offers low down payment mortgage financing for first time home buyers!

Reach out to me today to learn more about this low-down-payment mortgage program and to find out if you qualify!

Program allows you to borrow up to 97% of the purchase price (or appraised value - if it’s lower) of the home.

Purchase and no cash-out refinance (i.e. a refinance where you don’t receive any cash-in-hand at closing) transactions are allowed.

The amount of income you earn is not restricted by this program.

No geographic restrictions are placed on the home you’re buying.

Homebuyer education is required for purchase transactions when all borrowers are first-time homebuyers.

Program offers fixed rate financing for one-unit single family homes, townhouses, and condos.

Borrower paid mortgage insurance automatically cancels once the LTV reaches 78%.

Program allows both Affordable Seconds® and other secondary financing where available – check with me for details.

If you are looking to purchase a home, but you want to limit the amount of money you need to provide as a down payment, Freddie Mac’s HomeOne program could be a great option for you. HomeOne provides low down payment financing for first time home buyers, without the guideline restrictions that are common to many low down payment mortgage programs.

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Family Opportunity Program -Referral Chase Flyer

The Family Opportunity Program helps borrowers secure housing for

their parents who would not qualify on their own.

GENERAL PROGRAM REQUIREMENTS

• Homes that are purchased or refinanced must serve as the primary

residence for the family member who is unable

to work or has insufficient funds to qualify.

• Borrowers may own a primary residence other than the property they are

purchasing for their parent(s).

• Program allows pricing for the loan to reflect as primary residence for

the borrowers - no pricing hits for occupancy.

• Transaction must meet all program underwriting guidelines.

CALL ME. LET’S TALK ABOUT THIS EXCITING OPPORTUNITY.

The Family Opportunity Program helps consumers

secure housing for their loved ones.

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/

Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms

and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

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Renovation HomeStyle Program Guidelines Flyer

GO FROM FIXER-UPPER

TO LIVE-IN CONDITION

The HomeStyle Renovation program allows home improvement costs to be combined into purchase or refinance transactions. With HomeStyle Renovation, you can turn a renovation project into your borrower’s dream home.

PROGRAM HIGHLIGHTS

GUIDELINE HIGHLIGHTS

Purchase and refinance of owner-occupied, second-home, and

non-owner occupied residences.

Eligible property types include attached and detached single family residences, condos, and PUDs.

1 to 4-unit properties (LTV and occupancy restrictions apply).

HomeReady & HomeStyle

can be combined.

Maximum loan amount determined by FNMA limit for the area.

Minimum 640 credit score for owner-occupied residence.

Minimum 720 credit score for second-home and non-owner occupied residences.

We work with contractors so you

can focus on credit.

Home improvement project costs can be rolled into the loan. The maximum loan amount is based on what the appraised value of the home will be after the improvements are completed!

EXAMPLES OF ACCEPTABLE PROJECT TYPES INCLUDE:

Flooring upgrades

Kitchen and bath remodels

Room additions and relocation of load-bearing walls

Landscaping and outdoor kitchens

In-ground pool installation

and repair

Foundation repair

Window replacement

Solar and HVAC system installation

Roof and gutter replacement and repair

Cherry Creek Mortgage Company is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, U.S. Department of Agriculture, Veterans Administration or the Federal Government. The material provided here is intended as educational and informational only and is for distribution to real estate or financial professionals and is not intended for distribution to consumers; this does not constitute an offer to lend or to recommend available products.

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Loan Program Options

Cherry Creek Mortgage Co., Inc. NMLS #3001. *Program available in Colorado, Florida, Illinois, Indiana, Iowa, New Mexico, Oregon, Tennessee, and Utah. This material is informational only and not an advertisement

to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all

applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution 2/23/17.

This material is not from HUD or FHA and the document is not approved by the Department of HUD or any Government Agency. HUD does not approve the material presented. Cherry Creek Mortgage Company is

not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, or the Federal Government. BPMI = Borrower Paid Mortgage

Insurance; LPMI = Lender Paid Mortgage Insurance. LPMI may not be cancelled by the borrower; it terminates only when the loan is refinanced or paid off, and it usually results in a loan with a higher interest rate

than BPMI unless discount points are added to lower the rate. BPMI may be cancelled or terminated when the loan reaches 80% of the original value of the property.

We are proud to provide a variety of home

loans without the overlays imposed by many

other lenders. Because we are a direct seller

to Fannie Mae, Freddie Mac, and Ginnie Mae,

as well as an investor direct seller, we can

offer our clients and business partners a wide

range of mortgage options.

LOAN PROGRAM

OPTIONS

TRADITIONAL SOLUTIONS:

• Conventional – Minimum 620 credit

score required

• Conforming 97% LTV loans with

mortgage insurance

• Fannie Mae HomeReady and Freddie

Mac HomePossible

• FHA – Minimum 580 credit score

required

• FHA Streamline refinancing

• FHA High Balance

• FHA loans with no minimum trade line

requirements

• Lender paid mortgage insurance options

• Local and state down payment

assistance options for first-time home

buyers (where available)

• USDA – Minimum 620 credit score

required

• VA – Minimum 580 credit score required

• VA interest rate reduction refinance

loans

MANUFACTURED HOME

SOLUTIONS:

• Conventional manufactured home

financing

• FHA 30-year fixed

• Zero down VA loan

BUILDER/RENOVATION

SOLUTIONS:

• Conforming Renovation loans on second

homes and investments

• Extended rate lock options

• FHA Streamline 203k Renovation

• FHA Standard 203k Renovation

• FHA/VA Energy Efficient Loans

• FNMA Homestyle Renovation

NICHE SOLUTIONS:

• 80% LTV available on investment

properties

• Foreign nationals

• Non-warrantable condos

• Asset-based income program

• 100% gift funds allowed (condos

included)

• Properties on acreage

• Up to 10 financed properties

• Non-occupant co-signers allowed

• Property flips less than 90 days owned

• Kiddie condo

• Rental property loans that allow

borrowers to qualify based on their

assets – no income verification

• Your Home Opportunity offers 97% LTV

with no MI*

2ND LIEN SOLUTIONS:

• 1st & 2nd Mortgage Piggyback to

eliminate PMI

• Alternative solution to Jumbo financing

SENIOR SOLUTIONS:

• Reverse Mortgage

JUMBO SOLUTIONS:

• 95% LTV available to $850,000 loan

amount

• 90% LTV available to $1.5M loan amount

– No PMI

• 85% LTV available to $3,000,000 loan

amount – No PMI

• 50% Debt-to-Income

• VA Jumbo up to $1M loan amount

• Fixed & ARM options

• Interest-only options

NEED TO KNOW FACTS:

• Manual underwriting available

• Overnight lock protection on purchases

• Secure and encrypted web portal for

clients to send and receive private

information

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Loan Program Comparison Chart Flyer

LOAN OPTIONS

Conventional loans are not

guaranteed by a government

agency and follow guidelines

of two Government

sponsored enterprises,

Fannie Mae & Freddie Mac.

• Lower monthly mortgage insurance,

making the overall payment lower.

• No mortgage insurance needed if

20% down.

• When mortgage insurance needed,

it ends when the equity in the

property is greater than 20%.

• Property standards not as picky.

• Less paperwork involved.

• Holds buyer to a higher standard in

terms of credit, savings and debt-to-income.

• Interest rate and monthly mortgage

insurance may be higher with lower

credit scores.

FHA loans are insured by

the Federal Housing

Administration (part of HUD).

• More flexibility with bruised or newer credit,

limited savings or tighter debt-to-income.

• Down payment can be gifted

from a family member.

• Interest rate may be lower than

some conventional options.

• Monthly mortgage insurance can be higher

and in effect for the life of the loan if only the

minimum down payment is made.

• FHA charges a 1.75% upfront fee (rolled

into the loan balance).

• The property needs to meet a higher

standard than needed for conventional loans.

• More paperwork is involved.

USDA loans are guaranteed

by the USDA for homes in

areas deemed ‘rural.’

• No down payment needed.

• Monthly mortgage insurance is less

expensive, making the overall payment lower.

• In some situations, the cost for repairs can be

rolled into the loan.

• Interest rate is often lower than for a

conventional loan.

• Only homes in eligible areas can be financed

with USDA mortgages.

• USDA needs to review all files which often

delays the closing process.

• The home needs to meet minimum property

standards set by USDA that are more

stringent than some other loan types.

VA loans are guaranteed by

the Department of Veteran

Affairs for eligible Veterans.

• Typically no down payment needed.

• No monthly mortgage insurance,

loans do require VA Funding Fee but

which can be financed into the loan.

• Interest rate may be lower than some

conventional options.

• Property needs to meet a slightly

higher standard.

• Seller may be required to pay some

buyer related fees.

• More paperwork is involved.

WHAT IT IS PROS CONS

VA USDA FHA CONVENTIONAL

Cherry Creek Mortgage Co., Inc., NMLS #3001, This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/

Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and

conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution 3/30/17. Cherry Creek Mortgage Company is not endorsed by, nor acting on behalf of or at the direction

of the U.S. Department of Housing and Urban Development, Federal Housing Administration, or the Federal Government.

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Investor Advantage Program - Deephaven Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defi ned by TILA/Regulation Z nor an application for credit as defi ned by RESPA/

Regulation X. All applications are subject to underwriting approval and determining the applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products o ered. All loan programs, terms

and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution [4-11-17].

LET YOUR

EQUITY DO

THE TALKING.

Simplifi ed

Purchases and

Refi nances for

Investors.

What if you could purchase or refi nance

your next investment property with no

employment or income verifi cation?

The Investor Advantage Program will enable you to

grow your portfolio by leveraging the equity in your

current holdings, without the hassle of employment

verifi cation and analyses of your income. Maintain

your privacy and get the cash you need to rehab an

existing property, or use as a down payment and

rehabilitation funds for a new acquisition.

Guideline Highlights Include:

1. $2,000,000 Max Loan Amount. Increase the

scope of your projects.

2. Up to 80% LTV for optimal cash-out potential

and leverage.

3. 20% or $500k cash-out limit. Fully capitalize

your projects and draw partner interest.

4. Flexible amortization options that fi t your growth

and cash-fl ow objectives: 3/1 ARM & 7/1 ARM

programs available.

5. Minimum credit score of 640.

Stop Opportunity Cost Losses.

Put Your Equity to Work.

APPLY TODAY!

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HUD 184 - Native American Loan Flyer

Creek Mortgage is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, the Veterans Administration, the U.S. Department of Agriculture or the Federal Government. This material is informational only and is not an offer to lend or recommend available products. This is not an advertisement to extend credit as defined by Regulation Z, nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting guidelines and approval based upon the credit, assets, value of subject property and borrower’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. HUD-184 eligibility requires primary borrower must be an enrolled member of a federally recognized tribe.

WE PROUDLY OFFER THE SECTION 184 PROGRAM

FOR OUR NATIVE AMERICAN BORROWERS

If you are of Native American heritage,

our Section 184 loan offers you a

number of great benefits.

Flexible underwriting guidelines are aligned

with the needs of Native American borrowers

and communities.

Low down payment can be gifted by your

tribe or a family member.

Purchase and refinance transactions are available for properties located on either non-tribal or tribal lands.

Qualified borrowers of all income levels are eligible,

and loan amounts generally follow FHA limits.

CALL ME TO FIND OUT IF THIS PRODUCT MEETS YOUR MORTGAGE FINANCING NEEDS!

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Duplex Mortgage Program Options Flyer

OUR DUPLEX FINANCING OPTIONS ARE TWO GOOD TO PASS UP!

We take pride in asking all the right questions to help our clients select the best mortgage for their needs, and as a correspondent mortgage lender, we control the process from origination through closing; this means we underwrite, fund, and close “in house.” Here are some highlights of available programs (additional underwriting guidelines apply)...

580 minimum credit score.

Immediate family can provide gift funds for down payment/closing costs.

Options available to buy a home and finance the remodel costs.

Flexible credit qualifying guidelines for debt-to-income ratios.

Available for 1st-time home buyers and move-up buyers, too!

FHA

No down Payment available

to maximum loan limits.

No monthly mortgage insurance required.

Most VA loans include a funding fee, which may be financed into the loan amount.

Flexible credit qualifying guidelines for debt to income, credit history, and credit scores.

VA

Higher down payment requirements.

More restrictions on debt-to-income requirements, credit history, and credit scores.

CONVENTIONAL

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Read More
Delayed Finance Program Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. This material is informational only and not an advertisement to extend credit as defined by TILA/Regulation Z nor an application for credit as defined by RESPA/Regulation X. All applications are subject to underwriting approval and determining the applicant’s ability to repay. Not all applicants are eligible for or qualify for all loan products offered. All loan programs, terms and conditions are subject to change without notice. Rates and terms are valid as of the date of printing/distribution.

Home buyers in some markets are looking to purchase now and finance later

Low inventories have led to very competitive home purchase markets in many parts of the country. To get their offers noticed, many buyers are paying cash, even when they would rather acquire mortgage financing to pay for their homes. Delayed financing allows cash out refinances for these cash buyers.

If you paid cash for your home,

delayed financing could enable you to:

Reclaim your cash for investing in assets offering higher returns

Use your cash to purchase investment properties

Reestablish your reserve assets

Some guidelines to consider:

The original purchase transaction must have been arm’s length (no relationship between you and the seller), and the refinance must occur within 6 months of purchase

You must meet Fannie Mae’s general borrower eligibility requirements

The new loan can’t exceed your initial investment in the property (plus closing costs, prepaids, and points) and must conform to program requirements

The transaction must meet all underwriting and program guidelines

Call me to find out more about

our delayed financing program.

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