COMMUNITY
MORTGAGE
Community Mortgage Program: The Only Owner-Occupied Loan that Does NOT Require, Employment, Income or a DTI Ratio to Qualify!
Community Mortgage is a return to common-sense underwriting. This innovative product addresses the regulatory rules limiting prime borrowers’ access to lending by eliminating unnecessary documents that are not part of the credit underwriting decision. Community Mortgage was designed to fill the void and address the issues limiting prime, creditworthy borrowers’ access to credit through common sense underwriting. This exclusive mortgage product is unique in the marketplace.
KNOW THE difference
We are certified by the U.S. Department of Treasury as a Community Development Financial Institution (CDFI).
CDFIs are exempt from certain consumer financing rules and regulations of Dodd Frank, which includes sections of Regulation Z, including the Ability to Repay (ATR) rules, and documentation requirements contained in Appendix Q. These exemptions enable CDFIs to serve the $1 trillion market of prime, credit-worthy homeowners who are unable to meet burdensome regulatory documentation requirements.
As a certified (CDFI) Community Development Financial Institution.
U.S Department of the Treasury. (Community Development Financial Institutions Funds). Can offer You/Your Clients.
Highlights
- Primary Residence and Second Homes
- Credit Underwritten Based on LTV, FICO, and Liquidity
- Income Documentation Not Required
- Income Not Stated
- Debt-to-Income (DTI) Not Calculated
- Asset Seasoning 30 Days
- Only first page of a bank statement required for typical portfolio loans
- Loan Amounts Up to $3 Million
- Up to 80% LTV Purchase/Rate & Term
- FICO Beginning at 640
- Reserves from 3 Months
Ideal For
- Self-Employed/Small Business Owner
- Volatile or Irregular Income
- Retired
- Seasonal & Gig Workers
- Real Estate Investors
- Owners & Employees of Cash Businesses
- Newly Self-Employed
- Transitioning from Recent Health, Family,
or Other Life Events - Looking to Tap Trapped Home Equity
- Recent Immigration
- Disqualified Income