Posts tagged programs
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

Read More
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.

Read More
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.

Read More
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

Read More
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!

Read More
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.

Read More
Self-Employed Bank Statement Program

While being self-employed has its perks, you might find it hard to qualify for a home loan. Borrowers typically have to provide two years’ worth of tax returns, which often don’t accurately reflect the take-home pay of self-employed people.

Our bank statement program is an easy and streamlined process; giving you another option for verifying your income! Contact me today for more information on this

stress-free mortgage program.

This is what most lenders require of you when you are

self-employed and want to buy a home

BUT NOT HERE.

Cherry Creek Mortgage Co., Inc. NMLS #3001. This is not an offer to enter into an agreement. Any such offer may only be made in accordance with Minn. Stat. 47.206(3) & (4). 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. 1-2017.

Tino Martinez Loan Officer

509) 735-6603

509) 492-8792

TMartinez@ccmclending.com

1350 Spaulding Ave

Richland, WA 99352

NMLS# 1457806

Dana Mundy

Office: (509) 735-6603

Mobile: (509) 531-7407

DMundy@ccmclending.com

1350 Spaulding Ave

Richland, WA 99352

NMLS# 371781

Branch Manager

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Why Are Low Down Programs Popular - Referral Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. 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. 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. HUD-184 eligibility requires primary borrower must be an enrolled member of a federally recognized tribe. *Laura Kusisto, “For the first time, a metro’s median home price tops $1 million mark.” MarketWatch.com, August 10, 2016.

According to the National Association of Realtors, buyers in 83% of metro areas across our country are watching home prices continue to rise*. In 25% of these markets, home prices have increased by at least 10% in just the past 12 months! These rising costs - combined with stagnant wages - are increasing the popularity of low down payment mortgage programs.

WHY ARE LOW DOWN PAYMENT MORTGAGES SO POPULAR?

WE HAVE A WIDE RANGE OF LOW DOWN PAYMENT PROGRAMS AVAILABLE.

LET’S TALK ABOUT THE OPTIONS AVAILABLE FOR YOUR BUYERS.

Rising home prices lead to larger down payment requirements and increased closing costs. Low down payment products can help lower a buyer’s out-of-pocket costs.

Many of our popular programs such as FHA, Conventional, and the Native American Section 184 Program offer low down payment options. Other programs, such as USDA and VA, offer no down payment options for eligible borrowers!

Some of our programs allow borrowers to use gift funds to cover some - or all - of their down payment requirements.

Read More
Equity Builder Program - Referral Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. Program is available in all states EXCEPT the following: Alaska, California, Hawaii, New York, New Jersey, and Washington.

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.

We offer a broad selection of mortgage programs because your clients have a wide range of needs. The depth of our

product lineup helps your clients to purchase a home with a confidence that comes from knowing they have the right loan

for their needs.

Cherry Creek Mortgage is proud to further expand our program offerings with our new Equity Builder Program, which

features a shorter amortization period of 20 years and 100% financing—a huge savings for your clients. They’ll not only pay

less in interest over the life of their loan, they’ll also build equity at a faster rate than is possible with a traditional 30-year

mortgage in a stable or improving real estate market.

Program Features Include

Give us a call to learn how your clients can build wealth with

this program and start their journey to financial freedom.

• 100% financing of the purchase price of a home is available.

The loan amount cannot exceed the lower of the purchase

price or appraised value of the home. Costs associated

with the transaction (e.g. closing costs, prepaid interest,

fees paid to reduce the interest rate, etc.) cannot be

included in the loan amount.

• Buyer must contribute 1% or $1,000 (whichever is greater)

towards costs associated with the transaction (e.g. closing

costs, prepaid interest, fees paid to reduce the interest

rate, etc.). This minimum investment can be gifted if certain

conditions are met – check with me for details.

• $475,000 maximum loan amount.

• Adjustable rate mortgage for a 20-year term.

• Lower mortgage insurance costs.

• Available for one-unit single-family homes, PUDs and

condominiums.

Your clients can now

FINANCE 100% OF

THE PURCHASE PRICE

OF A HOME and build

equity faster than ever!

Read More
Equity Builder Program Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. Program is available in all states EXCEPT the following: Alaska, California, Hawaii, New York, New Jersey, and Washington.

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.

What if you could get a

MORTGAGE THAT COVERS

100% OF THE PURCHASE

PRICE OF A HOME

and helps you build equity

faster than is possible with a

traditional 30-year loan?

Want to learn more? Give us a call to see if this program is right for you!

Our Equity Builder Mortgage combines 100% financing towards the purchase price of your home with a 20-year repayment

term. Equity Builder shrinks the time you’ll spend saving for a down payment, reduces the total interest you’ll pay over the

life of a loan compared to a traditional 30-year term and helps you to build equity more quickly in stable or improving real

estate markets.

Key Program Features:

Our Equity Builder Mortgage is yet another example of our commitment to offering innovative and personalized mortgage

products to meet your unique needs.

• 100% financing of the purchase price of your home is

available. Your loan amount cannot exceed the lower of

the purchase price or appraised value of the home. Costs

associated with the transaction (e.g. closing costs,

prepaid interest, fees paid to reduce your interest rate,

etc.) cannot be included in the loan amount.

• You must contribute 1% or $1,000 (whichever is greater)

towards costs associated with the transaction (e.g.

closing costs, prepaid interest, fees paid to reduce your

interest rate, etc.). This minimum investment can be gifted

if certain conditions are met – check with me for details.

• Maximum loan amount is $475,000.

• Seller may contribute up to 3% towards your closing costs.

• Private mortgage insurance costs are typically lower

compared to other similar low-down payment mortgage

programs.

• Eligible properties include one-unit single-family homes,

PUDs and condominiums.

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Select 90 Jumbo 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 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. *BPMI = Borrower Paid Mortgage Insurance; LPMI = Lender Paid Mortgage Insurance. LPMI may not be canceled 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 canceled or terminated when the loan reaches

80% of the original value of the property.

Rising property values in many markets are driving more buyers to look for jumbo financing. Many

jumbo programs require large down payments which can put a significant dent in a borrower’s nest

egg, while others require monthly mortgage insurance which can inflate monthly housing costs.

Our Select 90 Jumbo Program is a great fit for borrowers looking to lower their down payments for

a luxury home purchase while keeping their monthly housing payments as low as possible.

Highlights include....

• 90% Loan-To-Value allowed for loan amounts up to $1,500,000

• Neither monthly nor lender-paid mortgage insurance* is required

• 30-year fixed rates available for both purchase AND rate/term refinances

CONTACT ME TO LEARN MORE ABOUT OUR JUMBO OFFERINGS!

SELECT 90

JUMBO PROGRAM

OFFERS HIGH LOAN-TO-VALUE FINANCING

WITHOUT MONTHLY MORTGAGE INSURANCE!

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Associated Bank - Midwest Jumbo and Niche - Referral Flyer

Cherry Creek Mortgage Co., Inc. NMLS #3001. Product only available in the following states: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Ohio, and Wisconsin. 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.

If your clients have unique needs that don’t neatly fit within typical mortgage

program requirements, take a moment to check out our Midwest Jumbo Portfolio

Program. It offers a great selection of outside-the-lines features including:

• LTVs up to 95% to $650,000 and 90% to $1,000,000

• Non Warrantable Condos up to 95% LTV

• Loan sizes from $30,000 to $1,500,000 with one appraisal

• LTVs up to 85% for cash-out

• Asset depletion can be used for income qualification

• Non-occupying coborrowers allowed

Contact me today to learn more about how I can help your

borrowers who have non-traditional needs.

MIDWEST JUMBO

PORTFOLIO PROGRAM

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WI - WHEDA

Cherry Creek Mortgage Co., Inc. NMLS #3001. Loan product only available in Wisconsin/WI. 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.

CALL ME TO FIND OUT IF WHEDA IS THE RIGHT CHOICE FOR YOU!

WHEDA provides a variety of mortgage programs

to home buyers in Wisconsin and even offers down

payment and closing cost assistance through the

WHEDA Easy Close Advantage loan. Borrowers

must meet program income limits, and the

transaction must meet underwriting guidelines.

WHEDA

ADVANTAGE

• Competitive 30-year

fixed rate

• Down payment assistance

available through WHEDA

Easy Close Advantage

WHEDA ADVANTAGE

CONVENTIONAL

• Competitive 30-year

fixed rate

• No purchase price limit

• First-time home buyer

status is not required

• Down payment assistance

available through WHEDA

Easy Close Advantage

WHEDA EASY CLOSE

ADVANTAGE

• Loan that covers down

payment and closing costs

• 10-year term

• Low cost, fixed rate

WHEDA

offers many choices

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NHF

Cherry Creek Mortgage Co., Inc. NMLS #3001. Loan product only available in CO, ID, OR, UT, and WA. 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. 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.

CALL ME TO FIND OUT IF NHF PLATINUM™ IS THE RIGHT CHOICE FOR YOU!

The NHF Platinum homebuyer assistance program

provides eligible families and individuals with a grant

that does not have to be repaid. The grant (up to

5% of the loan amount) can be used towards down

payment or closing costs. Many times this assistance

allows homebuyers to purchase a home much

sooner than they thought possible.

Thousands of people each year dream of

becoming homeowners. The NHF Platinum™

Program may help that dream become reality.

Program Highlights….

• No first-time homebuyer requirement. Even if you

owned a home in the past, you may qualify.

• Program is available for the purchase of an

owner-occupied primary residence, including

condominiums and planned unit developments.

• Down payment assistance grant, up to 5% of loan.

• Conventional, FHA, VA, and USDA mortgages.

• Available in CO, ID, OR, UT, and WA.

NHF

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