High Balance Conventional Loan
A High-Balance Conventional Loan is one that exceeds the national baseline conforming loan limits but falls within the local conforming loan limits for your high-cost county. High-Balance Conventional loans are considered conforming loans with respect to Fannie Mae and Freddie Mac.
A&D Mortgage is a specialist in dealing with these kinds of conventional agency mortgages and will guide you through the entire loan process.
Program highlights:
- Loan amounts up to $970,800 in high-cost areas for a single unit
- Eligible for primary and secondary homes
- More competitive rates and easier guidelines
- Faster turn times
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Other Programs
Home Possible
- Fixed-rate financing for easier budgeting
- Homebuyer education is required for first-time buyers
FHA
- Financing up to 96.5%
- DTI up to 55%
- No appraisal is needed to apply for the streamline refinance FHA program
- Up to 6% of closing costs can be contributed by the seller
Full Doc Non-QM
• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-hand $1 million, no limit for CLTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 & 7/6 ARM
• Traditional income
• 2-year credit event allowed
• Super Prime & Prime programs
• Condos up to 85% CLTV
• Condotels up to 70% CLTV
• NY up to 85% CLTV
12/24 Months Bank Statements
• No Score or FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-hand $1 million, no limit for CLTV < 55%
• 30 & 40 Year Fixed
• 3 months reserves
• Gift Funds for reserves allowed
• 12 months from bankruptcy or foreclosure
• Mortgage history 0 x 60 x 12
• Combination of business and personal bank statements allowed
• Condo and condotels allowed