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LICENSED DIRECT MORTGAGE LENDER
Web Site: www.sunsetmortgagebranch32036.com
In essence, we can create our own financial packages by customizing our loan programs.
Sunset Mortgage is a wholesale mortgage banker servicing commercial and residential real estate loans throughout the United States. We are direct lenders in all of the 50 states making us a premier banking institution. We are a dedicated service oriented lending institution serving all our customers with better than expected results.
Our residential programs consist of conforming, non conforming and sub prime.
We have the best low cost mortgages, mixed rate mortgages (fixed w/ Adjustable), fixed -30/40 or 50 yr, balloon loans, Interest Only, bridge funds, MAT loans with a rate start of 1.25% @ LTV to 80%
Our residential loan programs focus on Full Doc, limited, Stated/Stated, Stated, No Income, NO Asset, No Ratio, & No Doc.
We have buy down mortgages whereby you determine the rate, Adjustable & fixed rates at low low rates. We have Interest only mortgages, keeping your payments below market rates. Reverse Mortgages whereby you pay no payments until you sell your home. We have programs of 110 percent financing. Sunset Mortgage Bankers handles clients with less than desirable credit with all our programs. We offer seller concessions to 9 percent.
Commercial and development loan packages at a fixed or variable rate up to $100 Mil per project. We provide funding for Rehab projects in the commercial sector: including multi-family and all commercial structures. We handle lease hold backs and synthetic leases.
Small Commercial Loan Programs: Full & Stated. Rates vary from 6.3 to 8.5 based on program and property type. Loan acceptance is flexible; we base funding capacity on DSCR or Debt to Income. We provide a 15% reduction to your Debt to Income based on additional assets to qualify you under the DTI. Large commercial federal chartered banks to not provide such flexibility or rate programs. Small commercial projects include Hotel/Motels up to 6 MM; Automotive, office/condo, daycare, vocational school, warehouse, multifamily, retail, office, mixuse, rehab, and other properties -cash out to 90 LTV…. At amortized periods of 30 years. Stated loan program: we use your stated commercial Income to qualify the loan, a quick streamlined process without the requirement of providing Full Doc requirements. Non-Recourse Loans for Multi Unit commercial projects (multi family buildings, commercial retail center's….) .
NEW NO PREPAYMENT PENALTY LOAN PROGRAM FOR OWNER OCCUPIED COMMERCIAL PROPERTIES: Loan limit to $ 200,000 to $ 1 million, terms 15 due in 5, 20 due in 10, 15 fully amortized; LTV to 80%. Rates are 6.97, 7.37 and 7.37.
>>NON OWNER OCCUPIED PROPERTIES/NO PPP, LTV to 75%, rates 7.57%
NEW>>>>>CELOC (Commercial Equity Line of Credit) FULL DOC: We have introduced our new equity lines of credit for commercial borrowers. If you are an owner occupied business with 60 %, we can provide you with a line of credit based on your appraisal value of your commercial building. We move away from determining the line you qualify from your business Income statement and profitability. No more determining your qualification by use of Dunn & Bradstreet Business credit reporting agency. We use you value of your equity of your commercial space, use the flexibility of your personal credit report and ensure your business and or personal returns can service the debt. Funds can be used for supplies, inventory, cash flow…. And you can tap into the line and pay only what you use. No limit on loan size, CLTV of 80% and 90% with a tied in term loan; equity line based on Prime + O or LIBOR. Title insurance can be waived for loan amounts at $ 250,000.
NEW>>>>> Business Line of Credit: First ever flexible business line of credit for those business owners that have non traditional sources of qualifying the debt service. Program is good for those businesses that have cashflow problems, limited operation exposure, or poor business credit report. Also available for those businesses able to use their business income to qualify but have other adverse factors denying them lines of equity bank financing through their local bank. The program uses the security of other assets such as your primary; second home or Investment properties can be titled in your company name. Loan amount available to $ 750,000 with credit score of 750. No Income verification with credit score of $ 680+ with reduced lines of credit. Personal income can be used to qualify the debt service for those with credit score of less than 680. No need of using your Dunn & Bradstreet credit report. Business line can be tied into a term loan to increase the amount of loan capacity. Requires title insurance with loan size over $ 500,000. Minimum loan cost.
NEW: Stated Small Commercial Program (This program is different from the traditional stated commercial program-Stated Income Stated Asset). This program is designed specifically for those properties that are traditional unbankable. That is provides poor cash flow, poor credit as low as 575, property types not traditional acceptable such as auto repair, Laundromats, motels, restaurants, rooming houses, Funeral homes, dry clearers, assisted living, B & B, car wash…. Rates will vary from 8's to 11's terms to 5 years fixed to 30 years. PPP descending 5-1. Loan to value to 80LTV will accept CLTV 90 from other source. Program geared for purchase, refinance, or unlimited cashout. Source of funds not required or proven, Proof of employment can be verified from an accountant or CPA letter. Must be a real and verifiable number; accountant will not be called and letter not verified.
NEW: ( 2007) Church and Land Financing. Church financing for refinance cashout and term loans up to 75% and land up to 50% LTV.
We provide hard money, equity investors/private sources of funding for real estate development projects if you fail to have adequate collateral, cash on hand or credit is to adverse and the need for fast processing.
There is no loan to large or too complicated to handle.
New Purchases & Refinance: House (1-4 families)/Condo/Co-op/Building & mixuse
Purchase; Refinance/Cash-Out ( fixed rate, adjust rate, Interest Only up to 10 years)
Free Pre-Approval
Free Rate Locks
Good Credit, Bad Credit
First-Time Buyers
No Income/No Asset Verification Programs
Foreign Nationals with No U.S. Credit History ( Full doc and Stated Programs)
Home Equity Loans/Lines of Credit
Foreclosure & bankruptcy Bailouts to 75% LTV
Free credit report
No credit score programs
No trade line programs
Programs with credit score of 500
Luxury mortgages up to 15 Million ( Full doc, Stated, No Ratio programs)
NEW: Luxury mortgage /credit as low as 580 Full doc or Stated to 80LTV up to $5 mil
NEW: Luxury mortgages now introducing loan size to 5 million on our NO Doc program.
No employment program
No appraisal program
Program offering of NO Mortgage Insurance
40 year amortized mortgages
Family deed transfer loans ( Full & Stated Program)
NEW: Full Doc program, acceptable with credit score of 500
100% financing on Full Doc, Stated Program, NEW On NO DOC
125% financing too
Program for persons with lates, repossessions, ccc's, collection, charge offs, tax liens and bankruptcy (chapter 7 & 13- 1 day out) & foreclosure (NOD) with 100 LTV
No loan seasoning for refinance and purchase programs
(No or less than 6 months mortgage history or rent payment programs)
NEW: 50 year amortized loans
NEW: CELOC ( Commercial Equity Lines of Credit)
NEW: NON Recourse Loans ( Multi unit commercial properties: Multi family, retail centers…)
NEW: Entity vesting program for residential properties. Full doc, Stated, No Doc. Loan amounts to 8 million. Two types: Option arms allowing 4 payment options, minimum payment start rate 1.4 or 2% with rates varying around 8 for P & I. And our Platinum Series fixed for 1, 3, 5, 7, 10 rates in the low 6's ( IE $ 1 million Platinum loan Full doc rate 6.2%. Loans amortized for 30 years. Allowed for LLC, C Corporation, Partnerships, and Trust. Entity can be titled and note can be titled in entity name only in a Full Doc program. Entity must provide business or entity returns to qualify note in the entity name. IF not, program can still be used allowing name of the borrower on the note and title in the name of the entity. On entity vesting program we can use both the personal returns and business returns to qualify the debt service.
NEW: Special circumstance loans: Bankruptcy Bailout and Foreclosure bailout
( 55% DTI allowed) -(Stated Income allowed) Max LTV 75%
NEW: Sub 500 credit program
NEW: INTRODUCTION OF THE SECOND POSITION COMMERCIAL LINE OF CREDIT LOAN PROGRAM : We have just introduced as of November 2006 our second position loan or line of credit commercial loan program for either Owner Occupants or Investors. We are pleased to accommodate our clients that were in need of this program and now have introduced it to fill the needs of our commercial clients. Our Commercial line of credit or loan program rewards those clients that have a 660 credit score for Owner Occupancy or 680 score for Investment . Our CLTV is based on the applicant's credit-worthiness and property type
Foreclosure, Bankruptcy and below 500 credit score program: We allow for you to ascertain funding whether your in or have a foreclosure, NOD, Bankruptcy or a score below 500. No Ratio program allows to 60 LTV, Stated/ Stated allows to 65 LTV, Full. PROPERTY TYPES 1-4 FAMILY, CONDOS, OWNER OCCUPIED, SECOND HOME (-10% LTV), INVESTORS (-10% LTV), RURAL (-5% LTV)
NEW Church Financing: View criteria on our branch web site www.sunsetmortgagebranch32036.com and go to the Informational page and scroll down to Church Financing.
HARD MONEY: For Condo, Conversions, SFR, 1-4 unit buildings, multifamily, Commercial and A & D, Purchases, Refi and cashout. *We offer 65-70% ARV ( No credit or appraisal)
* 90% of Purchase and 100% of Rehab funds. ( this program requires a credit of 630 and appraisal)
NEW: 97% Financing on Owner Occupied Commercial properties with credit score of 680
We provide equity investors/private sources of funding for real estate development projects if you fail to have adequate collateral, cash on hand or credit is to adverse.
There is no loan to large or too complicated to handle.
Contact me and you will be given the time you deserve. Robert Terranova 646-369-5578 ( Wholesale branch manager)
Email: mrterranover@aol.com
rterranova@sunsetmortgage.com
Real Estate Brokers, Attorney's, Financial Consultants become a Loan Officer representing Sunset Mortgage. Request a simple employment package
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