Mortgage Broker - Roseville California

MAC Real Estate Services ( Since 2003) 

Desi Loan Broker .com 

broker@macloans.net

 Text/Call: 916-917-2393

Mortgage Broker Near Me Find a local mortgage broker

Loan documents checklist

 Conventional Submission Checklist

1

Credit report

Dated within 90 days.

2

Income Documentaton

 

  1. W2 Employees: One Pay Stub with YTD, 2 years w2's
  2.  Self Employeed: Business Tax Returns
  3. Social Security or Pension - Proof of monthly Income
  4. Picture ID

 

NOTE: For your and our safety, when emailing documents, please ensure  that they are encrypted or

Fax us at 530-755-3330 or

Just upload to our BLINK portal to your loan application account.

 

3

Purchase Agreement

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4

Bank Statement Loan Checklist

Factors to consider before submitting a Bank Statement loan:

1. Does the borrower have three tradelines reporting on credit for a minimum of 24 months?

2. Does the borrower have one current, active tradeline reporting for the last 12 months?

3. Is there evidence to confirm the borrower has not had a forbearance?

4. Does the credit report confirm that the borrower has not had a bankruptcy?

5. Does the credit report confirm that the borrower has not had a foreclosure?

6. Does the borrower have a full 12-month primary housing payment history?

  a. If renting, has the borrower lived rent-free for less than 3 months?

7. Does the borrower have at least 2 years of self-employment history?

If you answered NO to any of the above, the loan does not meet guidelines.

5

HELOC

Factors to consider before submitting a HELOC loan:

1. Is there a non-occupying co-borrower?

2. Is the draw amount less than 75% of the high balance?

3. Is the property a 2-4 unit second home?

4. Has the property been listed for sale in the last 6 months?

5. Is the property greater than 10 acres?

6. Is it a rural property?

7. 

8. In the last 4 years, has the borrower had a mortgage in forbearance with missed payments or that was modified?

9. Has the borrower had more than one late mortgage payment in the last 24 months?

  a. If the borrower has had one late mortgage payment in the last 24 months, was it within the last 6 months?

10. Are any borrowers not vested on title as of the loan application date?

 

If you answered YES to any of the questions above, the loan does not meet guidelines.

 Mortgage Disclosures

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 Home Loan Toolkit 

by CFPB.

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S Adjustable Rate Mortgage

by CFPB.

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New Loan Program

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40 Year Loan Program

First 10 years INTEREST ONLY

Asset as Income Loan Program

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Assets as income involves reviewing the balance in the borrower’s various asset accounts and using a calculation to determine a monthly income that can be used to qualify the loan.

Down Payment Assistence Program by CalHFA

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CalHFA - california Housing Finance Agency Loan Programs

My Home Assistance Program

Down Payment and Closing Costs are also provided by CalHFA

New Construction Loan

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  1. 11 month maximum build period with 1 month modification periord.
  2. Primay, second home and investment properties

USDA

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  1. 100% loan Program
  2. No down payment required
  3. No cash reserve needed
  4. Seller contributions allowed

Prime Jumbo

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  1. Loan amount up to $3M
  2. 680 Fico
  3. Cash out 80%

HELOC

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  1. 20 or 30 Year Loan Program
  2. Primary or Second Home

First Time Home Buyer Education

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Freddie Mac:

Need a certificate to qualify for a HomeOne® or Home Possible® mortgage? Want to take a deep dive into homeownership? It all starts here. Learn about bringing your credit up and keeping it there.

 

 

Fannie Mae:

HomeView is a free online course accessible from a desktop, tablet or mobile and is made up of seven modules. It takes about 3-4 hours to complete, and borrowers can pause and resume at any time.

Fannie Mae & Freddie Mac Area Median Income lookup tool:

Partner Services

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UWM

  • Inside Pass
  • News and Trends
  • Success Track Classes
  • Brand 360
  • Free Credit Report
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CalHFA

  • CalHFA Loan Programs
  • CalHFA Pipeline
  • CalHFA  Calculator
  • CalHFA Today's Interest Rate
  • 8 hour education
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USDA

  • Eligibile Rural Area
  • Income Eligibility
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Corelogic 

  • Zently 

FAQ

  • What is average credit card debt and credit card interest in California now?

    $7000 as of Sept 2023. The average credit card interest is 28.05%. Source: Forbes 

  • IRS :  What are primary home tax deductions?

    1. Mortgage Interest.
    2. Mortgage Points
    3. Property Taxes
    4. Residential Energy Credits - solar electric / small wind turbines / solar water heaters / 
    5. Not deductable: Mortgage Principal / Down Payment Costs / Home Repairs / Utility Costs / Homeowners Association Fees/ Home, fire or flood insurance / Mortgage Insurance    
    6. IRS Guide for Tax  Deductions

  • Can we use NEW rental income to qualify for a mortgage?

    Yes. Different lenders has different loan programs. Contact us to learn more about it.

  • What is average new car payment in 2023?

     Average new car payment is $725 Source: cnbc.

  • What is average student loan debt in US?

    $28.950

  • What is the population of Califonia?

    With over 39 million people (according to July 2022 Census Bureau estimates), California is the nation’s most populous state—its population is much larger than that of second-place Texas (30 million) and third-place Florida (22 million).  Source: ppic.org

  • What is 40 year bank statement mortgage?

    Our’s Bank Statement mortgage program is the perfect option for self-employed borrowers who need an alternative method to show the true cash flow of their business. Borrowers do not have to own 100% of the business. Self-employed borrowers represent an underserved market in the mortgage industry. Our Bank Statement program provides a loan solution to help underserved credit-worthy self-employed borrowers who otherwise would not qualify for a home loan.

  • Is it a good idea to refinance your mortgage?

    First, check your credit cards, car loan, student loan & shelter requirements. Then go with your gut feelings to either keep multiple payments or one payment which is possible by paying off all the debt into a mortgage loan. Use your home equity as your bank during this tough economic time.

    Be ready for the another refinance when rates will be lower again in future. 

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Better Business Bureau

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By #1 US Lender - UWM

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By Association of Independent Mortgage Experts

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By Association of Independent Mortgage Experts

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By Association of Independent Mortgage Experts

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By Association of Independent Mortgage Experts

Contact Us

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Phone:
+1-916-516-1116

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Email:
broker@macloans.net

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Address:

MAC  Real Estate Services
140 Diamond Creek Place, Suite 140

Roseville, CA 95747

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NMLS / DRE:

DRE 01800662

NMLS 347022

Company NMLS 1133016

Thank you for getting in touch !

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