Local Mortgage Brokers Gain Access to Cutting Edge Loan Programs
COSTA MESA, Calif., Feb. 20, 2017 — Costa Mesa-based Secure One Capital has stepped into the wholesale market, making their loan programs available to local mortgage brokers.
This is a bold move for the 21 year old company, but according to Secure One Capital’s COO, Ryan Marier, “We are building and expanding our business, while our competitors have started to shrink their work force and product offerings.”
Secure One Capital is notable in the local mortgage market, due to their policy of not adding lender overlays, which means that they will fund loans based on the FHA / VA guidelines with credit scores all the way down to 500. Many lenders require a minimum credit score of 620 to qualify for a home loan.
“Some borrowers experience a life event, such as a job loss, short-term disability, etc., which causes their credit scores to drop below the threshold set by many lenders,” stated Marier, adding, “These are good people, who still have the ability to qualify for a loan via strong debt to income ratios, plus other compensating factors, which make them a good borrower,” Marier concluded, “We believe that good people deserve a chance and we can help them achieve their goal of a refinance or purchase.”
VP of Sales, James Mowrer, who is heading up the wholesale rollout, shared, “We offer FHA and VA loans down to 500 FICO on purchase, rate and term and cash out refinances.”
Secure One Capital also offers HARP (Home Affordable Refinance Program) and Open Access; both programs are designed to help home owners with high loan to value ratios (typically in excess of 80% LTV) to refinance without adding mortgage insurance.
The Open Access program features an unlimited Debt to Income ratio component, which helps more people qualify, allowing them to reduce their interest rate and mortgage payment.
Other cutting edge programs available to Secure One Capital’s brokers are: Interest Only loans and Jumbo loans and Fannie/Freddie High Balance loan programs.
Marier added, “We are very proud of the service level we deliver as a company. We are able to maintain a 24-hour turn around time in underwriting and we are ready to draw loan documents in as early as 7 days.”
Marier concluded, “Most importantly, we are here to help, by making a difference for our clients and our brokers’ clients.”
For more information, go to: www.secureonecapital.com