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PROGRAM DETAILS
SINGLE-FAMILY
RESIDENCES
1 Builder/custom-borrower owns lot:
a) Max loan amount and b) max LTV
2 Builder model/spec: Max loan amount
3 Builder sold: Builder owns lot and has
contract to sell: Max LTV
4 Corporations, trusts and legal entities
5 First-time builder with limited experience
6 Newly self-employed
7 Owner who is a builder
8 Self-build: Max LTV
BORROWER TYPES
9 Condos: High-rise
10 Condos: Low-rise
11 Land development
12 Log homes
13 Mixed-use properties
14 Manufactured mobile homes
15 Modular homes
16 Partially completed construction
17 Residential lot acquisition: Max LTV
18 Rural properties
19 Second dwelling on single tax lot
PROPERT Y T YPES
20 100% CLTV
21 Additional advances
22 Blanket loans
23 Construction-to-permanent (all in one loan)
24 Draws on demand
25 Gifted lot
26 Payment reserve
27 Interest-only payment loans
28 Less-than-perfect credit
29 Line of credit
30 On-time completion bonus
31 Principal reductions with re-amortization
32 Remodel loans: Max loan amount
33 Stated income: Max loan amount
34 “No-Payment” option
20
Principal reductions with re-amortization
o
COMPANY NAME
$
1a
1b
%
$
2
$
2
3 4567 8
%%
9 10 11 12 13 14 15 16
%
17 1 1
18 19 20 21 22 23 24 25 26 27 28 29 31 30
$
32
$
33 34
Aztec Financial
800-663-0997
3M 60
3M
70 Y Y Y Y 60 Y Y Y Y Y
Y 60
YYYY
YYYYYY
Y 3M
3M Y
CA
CA only. May lend up to 65% LTV on construction loans
Bismark Mortgage Co.
800-350-7199 x106
www.bismarkmortgage.com
400K 70 400K 60 Y
Y 70
Y
Y
YY
YYYY
400K Y
NATIONWIDE except: AR CT DE FL IA KS LA MS MT ND NE NH NM OK RI SC SD VT WI WV WY
Please see Web site for additional information.
Normandy
800-390-7536
www.normandy.com
2M 90
2M
75 Y Y Y Y 90
YYYY
Y Y 75 Y Y
YYYYY
YY
Y 2M
2M Y
NATIONWIDE except: AR AZ DC LA MN MS ND NM NV OR SD TX VT WI WV
Seattle Funding Group Ltd.
888-SFG-FUND (734-3863)
www.sfgfunds.com
2M
70
70 Y
YY
Y
Y
Y
YY
YYYYYYYY 2M
2M Y
AK CA CO HI NV OR UT WA
For California properties, contact the San Diego office at 858-751-0556.
WADOT Capital Inc.
206-362-4444
www.wadotcapital.com
1M
75
1M
75 Y Y Y Y 75
Y Y Y Y Y Y Y 70 Y Y Y Y Y
YYYYY
1M
1M
ID OR WA
LTVs based on cost-to-construction. ID, OR & WA only
Tell lenders you found them in Scotsman Guide
1a 1b 2 3 4567 8
9 10 11 12 13 14 15 16 18 19 20 21 22 23 24 25 26 27 28 29 31 30 32 17 1 1
33 34
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: matrixfeedback@scotsmanguide.com.
« tools and tips »
By Douglas Smith
President
Douglas Smith & Associates
Looking Ahead — and Up
There are plenty of reasons to get excited about what 2011 will bring
As we approach 2011, mortgage brokers should mentally pre- pare for a year full of success
and wealth. One of the best ways to do
this is to give yourself an attitude check.
After all, your attitude has a direct impact on the scope of your success. If you
think 2011 will be full of insurmountable
challenges, you’re right.
But if you think it will present new opportunities that mortgage brokers have
never seen, you’re also right. Here’s a
look at some of these opportunities:
• Mortgage•brokers•have•fewer•com-
petitors than they’ve had in a long
time. According to an Access Mort-
gage Research and Consulting study,
more than 70 percent of mortgage
brokerages exited the business be-
tween 2006 and 2009. The trend
was expected to continue through
the end of 2010, as well. Surviv-
ing brokers can continue to tap the
ongoing refinance wave and grow
their market share as competitors
disappear.
Douglas Smith is a 27-year mortgage industry veteran and a nationally known speaker,
author and sales trainer. He helps lenders
find more customers and make more money.
For more information on Smith’s resources,
visit www.DougSmithOnline.com or call
(877) 430-2329.
