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 PROGRAMS

Conventional

  1. Convorming Fixed
  2. Elite Conforming
  3. Elite MI - Low Mortgage Insurance
  4. High Balance [From $726,000]
  5. Elite High Balance
  6. ARM: 5,7 &10 Year
  7. Home One
  8. Home Ready
  9.  Home Ready Special Purpose
  10. Refi Now 
  11. Home Possible
  12. Conventional 1% Down Payment\
  13. Borrow Smart by Freddie Mac
  14. Refi Possible
  15. Limited Review Condo
  16. Single Premiun MI
  17. 20 Properties Loan

DSCR

Upto  20 Properties (rental income only) Purchase or Refi


 

Investor Flex


 

Bank Statement Loan

Non-QM

  1.  40 Year Fully Amortized
  2. 1099 for Self Employed
  3.  DSCR 
  4.  Second Loan (HELOC)

 

Commercial

  1. Apartment Complex (5 +)
  2. Mixed use property
  3. Small Retail
  4. Office Building
  5. Self Storage
  6. Construction Loan 
  7. Industrial

CONVENTIONAL LOAN PROGRAMS

 

STANDARD CONVENTIONAL LOAN PROGRAM

1
  • 620+ FICO
  • Primary, second and investment properties
  • Loan amounts up to county loan limit
  • Eligible for primary, second and investment properties on purchase, rate/term and cash-out refinances
  • LTV's as high as 97% on purchase and rate/term refinances
  • LTV's as high as 80% on primary home and 75% on second home and investment cash-out refinances
  • High Balance available for loan amounts over the county loan limit
  • Lender and seller paid Temporary Rate Buydowns available
2

ElitE

 

  1. 700+ FICO, up to 80% LTV
  2. Loan amounts from $125,000 up to county loan limits
  3. Eligible for primary, second and investment homes
  4. Appraisal Waivers honored
  5. Includes conventional and high balance
  6. Available on single- and multi-wide manufactured homes, co-ops*, condos and PUDs
  7. Lender and seller paid Temporary Rate Buydowns available

 

3

Elite MI

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  • Among the lowest mortgage insurance rates in the industry
  • Instant MI saves 3-7 days on the loan process
  • No overlays
  • No adjustments for DTI or number of borrowers
  • Starts at 620 FICO
4

HIGH BALANCE

 

 

ELITE HIGH BALANCE

5

  • 700+ FICO
  • Up to 80% LTV
  • Loan amounts from $726,200 up to county loan limits
  • Appraisal Waivers honored
  • Underwrite to AUS findings
  • Includes convention and high balance
  • Available on co-ops*, condos and PUDs
  • Lender and seller paid Temporary Rate Buydowns available
6

ARMS: 5, 7 AND 10 YEAR

 

Lower rate options with our 5-, 7- and 10-year adjustable-rate mortgages

  • Conventional Elite 5, 7, and 10 year
    • 700+ FICO, up to 80% LTV
    • Primary, second, and investment properties on purchase, rate/term and cash out refinance
    • $125,000 minimum loan amount
  • Conventional 5, 7, and 10 year
    • 620+ FICO, up to 95% LTV
    • Primary, second, investment, purchase, rate/term and cash out refinance
    • One-Time Close New Construction loans available for 7 and 10 year ARMs
  • Conventional Elite High Balance 5, 7, and 10 year
    • 700+ FICO, up to 80% LTV
    • Primary, second, and investment properties on purchase, rate/term and cash out refinance
    • Loan amounts from $726,200 up to county loan limit
  • Conventional High Balance 5, 7, and 10 year
    • 620+ FICO, up to 95% LTV
    • Primary, second, investment properties on purchase, rate/term refinance and cash out refinance
    • Loan amounts from $726,200 up to county loan limit
    • One-Time Close New Construction loans available for 7 and 10 year ARMs
  • Lender and seller paid Temporary Rate Buydowns available
7

HOME ONE

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  • Purchases up to 97% LTV
  • No income restrictions
  • Available in all geographic locations
  • Eligible for single family homes, including townhouses and condos
  • At least one borrower must be a first time homebuyer
  • LPA only
  • Available on single- and multi-wide manufactured homes with LTV up to 95%, co-ops* and PUDs
  • Lender and seller paid Temporary Rate Buydowns available
8

HOME READY

  • Conventional options for borrowers looking to purchase with a low down payment or refinance with limited equity. Use the Fannie Mae Lookup Tool to see if a subject property meets the county loan limit requirement.

    • Purchases up to 97% including FTHB
    • Refinances serviced by FNMA eligible up to 97% LTV
    • Reduced Mortgage Insurance
    • High Balance available
    • Income up to 80% of the AMI
    • Gift funds eligible for entire down payment
    • Available on single- and multi-wide manufactured homes with LTV up to 95%, condos, co-ops* and PUDs
    • Lender and seller paid Temporary Rate Buydowns available

 

 

HOMEREADY® SPCP

9

Help more first-time homebuyers achieve homeownership with the HomeReady Special Purpose Credit Program.

  • Borrowers receive
    • $5,000 grant
    • Up to $500 toward a 1-year home warranty
    • Up to $500 toward appraisal costs
  • Borrower’s current primary residence must be located in an eligible census tract in one of the following Metropolitan Statistical Areas
    • Detroit, MI
    • Baltimore, MD
    • Chicago, IL
    • Atlanta, GA
    • Memphis, TN
    • Philadelphia, PA
10

REFINOW

 

  • RefiNow lets more of your borrowers save on their monthly mortgage payments! Use it to help your homeowners who currently have a Fannie Mae-backed loan, have income at or below 100% of their area median income (AMI) limit, and can reduce their interest rate by a minimum of 50 basis points.

    • Loan must be conventional and owned or securitized by Fannie Mae
    • Must have a reduction in their monthly mortgage payment*
    • 30-year fixed loans with an LTV up to 97%
    • 620+ FICO, up to 65% DTI
    • Primary residence rate/term refinance
    • $500 credit from Fannie Mae if an appraisal was obtained
    • Available on single- and multi-wide manufactured homes, co-ops**, condos and PUDs

    *Reduction must include principal, interest and the mortgage insurance payment (if applicable).

11

HOME POSSIBLE

.

  • A great alternative to FHA financing for borrowers looking to purchase with a low down payment or refinance with limited equity. Use the Freddie Mac Lookup Tool to see if a subject property meets the county loan limit requirement.

    • Up to 97% LTV
    • 620+ FICO
    • First time homebuyers, move-up borrowers and retirees
    • Refinances up to 97% LTV, regardless of current mortgage program
    • High Balance available
    • Income up to 80% of the AMI
    • Available on single- and multi-wide manufactured homes, co-ops*, condos and PUDs
    • Lender and seller paid Temporary Rate Buydowns available
12

CONVENTIONAL 1% DOWN

    • Open more doors to homeownership With UWM’s Conventional 1% Down program. When income-qualified buyers put 1% down, UWM will pay an additional 2%, up to $4,000, giving them a 3% total down payment.

      • For borrowers with income at or below 80% of the Area Median Income (AMI)
      • 620+ FICO
      • 30-year fixed loans with an LTV of 97%
      • Eligible for primary purchases only
      • High Balance not available

 

 

FREDDIE MAC BORROWSMART℠ (30-YEAR FIXED)

13

For a limited time, help qualified buyers get up to $1,500 toward their down payment or closing costs.

  • 620+ FICO, up to 97% LTV
  • Eligible for primary purchases only
  • At least one qualifying borrower will be required to complete homebuyer counseling session through Homeownership Preservation Foundation (HPF) Process for a fee of $99
  • Qualified buyers with an income less than or equal to 50% of the AMI receive $1,500
  • Qualified buyers with an income between 50% and 80% of the AMI receive $500
  • Available on single- and multi-wide manufactured homes, co-ops*, condos and PUDs
  • Lender- and seller-paid Temporary Rate Buydowns available

Use Freddie Mac's Income and Property Eligibility Tool to confirm borrower meets eligibility requirements.

14

REFI POSSIBLE

 

  • Refi Possible helps your borrowers who currently have a Freddie Mac-backed loan save on their monthly mortgage payment. As with Fannie Mae’s RefiNow, applicants must have income at or below 100% of their area median income (AMI) and be able to reduce their interest rate by a minimum of 50 basis points.

    • Loan must be conventional and owned or securitized by Freddie Mac
    • Must have a reduction in their monthly mortgage payment*
    • 30-year fixed loans with an LTV up to 97%
    • 620+ FICO; up to 65% DTI
    • $500 credit from Freddie Mac if an appraisal was obtained
    • Available on single- and multi-wide manufactured homes, co-ops**, condos and PUDs

    *Reduction must include principal, interest and the mortgage insurance payment (if applicable).

15

LIMITED REVIEW CONDOS

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    • Condo approvals quick and easy with our limited review process. All files receiving a limited review response in AUS will only need a minimum evaluation by our condo department.

      • Available in all 50 states
      • No condo questionnaire required
      • Lender and seller paid Temporary Rate Buydowns available

 

our DSCR  [debt service coverage ratio] LOANS

ALLOW BORROWERS TO FINANCE UP TO 20 PROPERTIES BY

USING EACH PROPERTY’S MONTHLY RENTAL INCOME TO

QUALIFY FOR INVESTMENT PROPERTIES

16

Investor Flex is  Debt Service Coverage Ratio (DSCR) loan program. It offers 4 different loan options for your real estate investor borrowers using the prospective rental income of the property, rather than the borrower’s income, to qualify.

With loan options up to $2M for purchases and refinances, you can help your borrowers grow and scale their real estate portfolio. Plus, long-term real estate investors can elect to add a 1-, 2- or 3-year pre-payment penalty in exchange for better pricing.* As long as they don’t pay off or sell the property within the agreed-upon pre-payment period, they’ll benefit from savings that can be used elsewhere.

 

 

17

REFI 

 

  • Refi

18

LIMITED 

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    • Condo

NOO (NON OWNER OCCUPIED)

NON-QM   LOAN PROGRAM

 

40 YEAR FULLY AMORTIZED LOAN TERM

1

  • ·         As little as 0 months reserves (Use property
    cashflow to qualify)

    ·         FICOS As Low As 620

    ·         No LTV Restrictions on 2-4 units

    ·         40 Year Fully Amortized Term

    ·         Rural Properties – Allowed max 2 acres

    ·         100% gift funds allowed if borrower can verify they have 5% of their own funds

    ·         Recently listed properties allowed with min prepay of 1 yr.

    ·         Use Highest mid score for any borrower on the loan for both qualifying and pricing

    ·         Living Rent Free Allowed for Experienced Investors Only

    ·         Use actual rents received with 2 months documentation dated prior to application date

    ·         STR’s allowed up to 75% LTV

.

2

NON-QM  

1099

A loan for self-employed borrowers who qualify utilizing cash flow analysis

Highlights

 

 

FICOs starting at 660

Interest Only Available

Tax Returns Not Required

  • LTVs to 85%
  • Loan amounts to $3,000,000
  • Blended income OK
  • Qualify using either One or Two Years 1099
  • Declining Markets OK
 

3

NON -QM EXPRESS DSCR - For Borrowers with Positive Cash Flow

 

 

Non Trid - Close Fast!

Purchase Money & Rate & Term to 80% LTV

Loan Amounts to $3 Million

 

Highlights

 

  • DSCR down to .75 with 680 minimum score
  • Declining Markets Allowed
  • Vacant Properties Allowed on Refinances
  • Originate business purpose mortgages without a state specific license in multiple states*
  • Gift Funds Allowed
  • Charge Origination and receive YSP
  • Cash Out can be Used for reserves
  • Min Fico 660
  • Interest Only Loans Qualify using the IO payment
  • Unlimited Cash In Hand Allowed <= 60% (Greater than 60% is $1 Million Max)
  • 30 & 40 Year Fixed I/O Available
  • 75% LTV Cash Out Min FICO 700
  • 1x30x12 Allowed

 

4

 

 

 

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

NON-QM SECOND 

 

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

 

NonQM 2nd Highlights

 

  • Min Score 660
  • CLTVs to 90%
  • No Reserve Requirement
  • Loan Amounts $75,000 to $550,000
  • Standalone & Purchase Money
  • Full Doc and Bank Statement Options
  • Fixed Rate, Fully Am, – 10, 15, 20 & 30 year
  • Combined liens to $2.5 million

 

Premier NonQM 2nd Highlights

  • Superior Pricing for well qualified Full Doc borrowers
  • Loan amounts from 75K-500K
  • Up to 80% CLTV
  • 700 Minimum FICO

 

 

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Commercial Loan Program

Commercial Purchase

  • Copy of the listing if it’s a purchase
  • Rents per unit
  • Bedroom count per unit or tenant name, lease end date for office/retail units
  • Most recent 2 year expenses on property / Schedule E/8825’s if available is better
  • Amount owed
  • Target loan amount for cash out

 

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

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