Home Purchase Financing
Whether you are a first-time buyer or experience homeowner, our Team is here to walk you through the process every step of the way. At Saxton Mortgage, we consider all your needs to help you choose the right home loan for you and provide a smooth transaction from beginning to end.
Loan Options
With the 1% down payment plan we offer, you put down 1%, your lender contributes 2% (up to a maximum of $5,000), giving you 3% equity at closing. This program is offered with NO monthly mortgage insurance and competitive rates. The borrower is responsible for the any difference over the $5,000 lender contribution to meet the required 3% down payment.
An FHA loan is insured by FHA provides mortgage insurance on loans on homes. FHA loans are popular among first-time homebuyers because FHA allows down payment as little as 3.5%
- Do you have a steady employment history for the past two years?
- Do you have a valid social security number or lawful residency in the US?
- Are you purchasing a home as your primary residence?
Did you say Yes to any of these questions? You may qualify for a FHA loan.
For many, the biggest obstacle in purchasing your first home is coming up with the down payment. Even with the low down payment options available, some purchasers have not been able to accumulate the down payment on their own, but have a relative or family member willing to help assist them with the down payment in the form of a gift. We have multiple loan options that allow for 100% of the down payment funds. Some program options are even available with no monthly mortgage insurance.
Looking to purchase an income producing property that can help make your mortgage payment? For many, buying a multi-unit property that the owner can live in one unit, and rent out the others, is a great way to help finance the purchase of your property. For the many, buying a duplex or triplex offers a great investment opportunity combined with their primary residence.
Are you Self-Employed? For those borrowers that are self-employed that most of their money is tied up in their business bank account, or for those that have non-traditional employment that creates income that is not easily documented through a traditional W-2, we have several loan options for alternative methods of income qualification. For personal bank statements, we offer loan programs that utilize 12-24 months of bank statements to calculate the income based upon the deposits into the bank account over that specific period of time. For business accounts, we offer loan programs that utilize 24 months bank statements to establish income. And, these loan programs offer relaxed FICO requirements down to 580, with maximum loan amounts to $2 Million.
Unfortunately, sometimes life events cause financial distress that require a fresh start. For many, the best option is to bankruptcy protection under Chapter 7 or Chapter 13 of the United States Code (Federal Bankruptcy Code). This type of event shouldn’t be a long-term interruption in your ability to purchase a home after getting a fresh-start. Through our relationships with private investors in the secondary market with have multiple programs that offer loan options as soon as the discharge has been granted, or the completion of the foreclosure, or short-sale. Those investors also understand that those types of events can cause the reduction in credit scores, so these programs offer loan options to borrowers with FICO scores down to 580, and loan amounts up to $2 Million.
Are you an investor that is looking to purchase an investment property, but can’t easily document your income through traditional W-2 earnings? We offer investment programs that require no income documentation with only 2 months banks statements to document the down payment proceeds. Loan amounts up to $2M, with no income documentation or alternative income documentation available in the form of bank statements, or asset depletion.
With several flexible lending options, we offer loan programs utilizing personal or business bank statements for income qualification, NO-Doc Investment loans, and loan programs for borrowers with prior bankruptcies and foreclosures that were just recently settled or discharged. Have one of our seasoned loan officers contact you today to review all of our loan options.
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Home Purchase Financing
Whether you are a first-time buyer or experience homeowner, our Team is here to walk you through the process every step of the way. At Saxton Mortgage, we consider all your needs to help you choose the right home loan for you and provide a smooth transaction from beginning to end.
Loan Options
With the 1% down payment plan we offer, you put down 1%, your lender contributes 2% (up to a maximum of $5,000), giving you 3% equity at closing. This program is offered with NO monthly mortgage insurance and competitive rates. The borrower is responsible for the any difference over the $5,000 lender contribution to meet the required 3% down payment.
An FHA loan is insured by FHA provides mortgage insurance on loans on homes. FHA loans are popular among first-time homebuyers because FHA allows down payment as little as 3.5%
- Do you have a steady employment history for the past two years?
- Do you have a valid social security number or lawful residency in the US?
- Are you purchasing a home as your primary residence?
Did you say Yes to any of these questions? You may qualify for a FHA loan.
For many, the biggest obstacle in purchasing your first home is coming up with the down payment. Even with the low down payment options available, some purchasers have not been able to accumulate the down payment on their own, but have a relative or family member willing to help assist them with the down payment in the form of a gift. We have multiple loan options that allow for 100% of the down payment funds. Some program options are even available with no monthly mortgage insurance.
Looking to purchase an income producing property that can help make your mortgage payment? For many, buying a multi-unit property that the owner can live in one unit, and rent out the others, is a great way to help finance the purchase of your property. For the many, buying a duplex or triplex offers a great investment opportunity combined with their primary residence.
Are you Self-Employed? For those borrowers that are self-employed that most of their money is tied up in their business bank account, or for those that have non-traditional employment that creates income that is not easily documented through a traditional W-2, we have several loan options for alternative methods of income qualification. For personal bank statements, we offer loan programs that utilize 12-24 months of bank statements to calculate the income based upon the deposits into the bank account over that specific period of time. For business accounts, we offer loan programs that utilize 24 months bank statements to establish income. And, these loan programs offer relaxed FICO requirements down to 580, with maximum loan amounts to $2 Million.
Unfortunately, sometimes life events cause financial distress that require a fresh start. For many, the best option is to bankruptcy protection under Chapter 7 or Chapter 13 of the United States Code (Federal Bankruptcy Code). This type of event shouldn’t be a long-term interruption in your ability to purchase a home after getting a fresh-start. Through our relationships with private investors in the secondary market with have multiple programs that offer loan options as soon as the discharge has been granted, or the completion of the foreclosure, or short-sale. Those investors also understand that those types of events can cause the reduction in credit scores, so these programs offer loan options to borrowers with FICO scores down to 580, and loan amounts up to $2 Million.
Are you an investor that is looking to purchase an investment property, but can’t easily document your income through traditional W-2 earnings? We offer investment programs that require no income documentation with only 2 months banks statements to document the down payment proceeds. Loan amounts up to $2M, with no income documentation or alternative income documentation available in the form of bank statements, or asset depletion.
With several flexible lending options, we offer loan programs utilizing personal or business bank statements for income qualification, NO-Doc Investment loans, and loan programs for borrowers with prior bankruptcies and foreclosures that were just recently settled or discharged. Have one of our seasoned loan officers contact you today to review all of our loan options.