D-Social Mortgage Blog

Did you know that JFrank Capital Mortgage is still offering Stated Income / Verify Asset on Standard Conforming Loans!!   The question remains is for how long?? Fannie Mae has decided to eliminate their Stated Program earlier in the year.  

 Key Point's for this Stated Income / Verify Assets

• We are still offering Stated Programs, but we do not know how long this will be available to us
• Self-Employed Borrowers only. No W-2 exceptions!
• Available for Owner Occupied, Investment property(yes that's right!) and 2nd Home
• Maximum loan-to-value for owner occupied & 2nd home is 80% (or 20% down) with a 700 fico score, no exceptions!
• Maximum loan-to-value for Non Owner occupied is 75% (or 25% down) with a 720 fico score, no exceptions!
• Eligible properties are 1-4 units, owner occupied or non owner occupied. No Condo's for investment
• Cash out available for owner occupied 1-4 units up to 80% loan-to-value; non owner, 1-2 unit maximum loan-to-value 75%.
• Reserve requirements: 12 months PITI for investment, 6 months PITI for owner occupied. Cannot use 401k, IRA, Gift or Equity for reserves. However, there is No Seasoning!
• Seller concession and/or gift not allowed
• MUST 4506T at closing

Call Us Today to see how we can assist you in increasing your pipe line at 800-810-2080 ext. 101 or 415-407-6522.  

Additional note: we are within days of rolling out a VA Loan product. We've strategically aligned ourselves to assist the men & woman of the military in their American Dream of home ownership. Despite the negative press we've been hearing. Please take a moment to review this great article on VA loans from the Washington Journal: http://www.bizjournals.com/washington/prnewswire/press_releases/District_of_Columbia/2008/09/19/DC34086 

It has been weeks since my last blog. I don't know what happened. Perhaps laziness, lost of interest, trying to save & close deals, or just plain anxiety trying to come up with a topic that doesn't make you sound senseless.

On Friday, I committed to myself to an early Sunday morning start at Starbucks to begin my 4th blog. The ambiance was ideal because I did not have to fight or wait for my favorite table by the window to people watch. Cool tunes from the Bossa Nova era, to Salsa and acoustic rock were playing. A perfect Sunday to just hang out and chillax (one of my favorite words from the late Bernie Mac, may he rest in peace)

I typically like to read the paper to get the brain cells pumping and the ideas flowing. For some reason, and to no surprise, it wasn't happening. I just finished reading the paper and after 2.5 Grande size coffee, black, I felt the need for speed. Now I was contemplating many blog topics from the Fed's bail out - what a mess and we know who's going to suffer, the recent bombing in Pakistan, the recent decline in mortgage rates do to the Gov't action, the SF Giants & 49ers games at 1:00pm.

My entire body was juiced & pumping. And after several minutes, I did realize a few things: I was making excuses about trying to come up with a topic, I was using the current events not to write and I should never pump myself with caffeine when feeling the anxieties of writing a blog - especially as a newby blogger.

So, as the story of my life, I decided to just do it and write.... Trying to avoid sounding senseless. Will blogging get any easier?