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On Q Financial, Inc. knows that one size doesn't fit all when it comes to obtaining a mortgage. That is why we strive to provide a "Mortgages Simplified" experience and offer a wide array of loan products specific to Georgia to help your buyers get into the home loan that meets their specific needs. NICHE/SPECIALTY LOAN PROGRAMS ESCROW HOLDBACK PROGRAM Are necessary repairs keeping your buyers from purchasing their dream home? Our Escrow Holdback Program can simplify the process by allowing them to make repairs required by an appraiser to their new home after the loan funds.
FHA 203K HOME LOAN Potential homeowner’s that want to purchase or refinance a home that needs work don’t always have the cash to make repairs. The 203(k) programs allows improvement costs to be rolled into the mortgage loan
HOME AFFORDABLE REFINANCE PROGRAM (HARP)* Let On Q show your borrowers with existing Fannie Mae or Freddie Mac loans that there are refinance opportunities for those who have demonstrated acceptable payment history but have been unable to refinance to obtain a lower payment or move to a more stable product.
MANUFACTURED HOMES Now your clients can benefit from the affordability and convenience of a doublewide manufactured home! On Q offers both conventional and FHA loans for existing or new constructions.
NON-WARRANTABLE CONDOMINIUMS Most lenders avoid these types of mortgage loans, but not On Q! Non-warrantable condominiums and Condo-tels are welcome. Unique loans exist of unique situations.
ONE-TIME CLOSE CONSTRUCTION LOAN PROGRAM This loan combines both interim construction and permanent financing into a single loan transaction, so your borrowers only have to qualify once (prior to the commencement of the loan construction phase). Help your clients get into the home of their dreams!
REVERSE MORTGAGES An experienced and attentive Reverse Mortgage team is ready and committed to doing only these types of loans, helping homeowners, 62 years and older, use their home equity to help supplement retirement. * Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/.
FIRST-TIME HOMEBUYERS FHA 580 FICO SCORE Everyone knows that homebuyers can purchase a home with an FHA loan with only 3.5% down, but this flexible product with lenient qualifying criteria allows On Q to accept FICO scores as low as 580, with restrictions.
FHA NO FICO SCORE On Q understands that a person’s creditworthiness cannot always be deduced from a FICO score. We’re here to help get your client’s qualified with non-traditional credit evaluations. We use a minimum of 3 alternative credit references to evaluate your eligibility.
97% LTV Options The new 97% LTV financing for first-time homebuyers and refinance loans has created a lot of buzz in the mortgage industry. On Q is excited to offer these loans that can help a section of the market that would otherwise qualify for a mortgage, but need the flexibilty of a lower down payment.
JUMBO LOANS 50% DEBT-TO-INCOME (DTI) If you have potential homebuyers with up to 50% DTI they may be having some problems getting qualified. On Q may be able to help with a fixed-rate term for loans up to 1.5M. Primary Residence Purchase and Rate/Term transactions only.
FIXED-RATE UP TO 90% LTV Offers a 30 year, fixed-rate term for your jumbo sized loan up to 90% LTV with a $850K loan amount with mortgage insurance, OR up to 85% LTV with a $1M loan amount without mortgage insurance.
UP TO $4M FINANCING An ideal option for rate-sensitive borrowers! The interest rate will only adjust 1 time every five years over the life of the loan with a 5/5 ARM. 15/15 ARM loan interest rate will only adjust 1 time over the life of the loan. Program offers a 30 year fully amortizing term.
DOWN PAYMENT ASSISTANCE PROGRAMS, GRANTS, BONDS, ETC. CLAYTON COUNTY, GA DOWN PAYMENT ASSISTANCE AND NEIGHBORHOOD STABILIZATION PROGRAM Offer your first-time homebuyers the ability to apply for a 2nd lien, which is at 0% interest with deferred payments for 5 years, or purchase a home within the Clayton County Inventory under the NSP program with the above terms. The DPA amount is based on the borrower’s income.
DEKALB COUNTY, GA HUMAN & COMMUNITY DEVELOPMENT DOWN PAYMENT ASSISTANCE PROGRAM Help your clients gain access to this non-amortizing, 0% rate loan of up to $8,000. This product has deferred payments for five years and then is forgiven in the sixth year.
DREAM MAKERS GRANT PROGRAM On Q is proud to offer this true, non-repayable grant for Conventional, FHA or VA fixed-rate loan programs ranging from $1,000 to $5,000 in funds for Active Duty, Reserve, National Guard, or veteran military personnel who are first-time homebuyers and meet all of the qualifying criteria.
GEORGIA DREAM Georgia Dream offers fixed rate FHA, VA, and USDA financing. Eligible borrowers may qualify one of the three for a 2nd lien at 0% interest with deferred payments. The Standard DPA is $5,000, the PEN DPA for borrowers in public protection careers is $7,500 and the CHOICE DPA for borrowers who household includes an individual living with a disability is $7,500.
GWINNETT COUNTY, GA HOMESTRETCH DPA This program offers first-time homebuyers a 2nd lien that has 0% interest, payments deferred for 5 years, and the lien is forgiven at year six. This assistance can be used for down payment, closing costs, pre-paid items, intangible taxes, and other costs associated with the loan.
HENRY COUNTY, GA NEIGHBORHOOD STABILIZATION PLAN For Foreclosures only in the target areas of Henry County, this 2nd lien is specific to the property and the qualification of the borrower. The program offers a five year lien with a 0% rate and deferred payment.
NHF PLATINUM GRANT DOWN PAYMENT ASSISTANCE PROGRAM The Grant, up to 5% of the first mortgage loan amount, is a true grant and does not have to be repaid! Even better, new mortgage insurance options with lower coverage requirements are now available for conventional loans.
To learn more about specific programs or how we can help expand your business and make the best of your clients home buying experience, give me a call today.
On Q Financial, Inc. is an Equal Housing Lender. NMLS#5645 / Georgia Lender #22050. Please consult an On Q Financial, Inc. Mortgage Consultant for further information and questions pertaining to specific guidelines and requirements. These programs are subject to change without notice. Underwriting terms and conditions would apply to qualified borrowers. Some restrictions may apply. 068i0000001tbTp
FHA 203K HOME LOAN Potential homeowner’s that want to purchase or refinance a home that needs work don’t always have the cash to make repairs. The 203(k) programs allows improvement costs to be rolled into the mortgage loan
HOME AFFORDABLE REFINANCE PROGRAM (HARP)* Let On Q show your borrowers with existing Fannie Mae or Freddie Mac loans that there are refinance opportunities for those who have demonstrated acceptable payment history but have been unable to refinance to obtain a lower payment or move to a more stable product.
MANUFACTURED HOMES Now your clients can benefit from the affordability and convenience of a doublewide manufactured home! On Q offers both conventional and FHA loans for existing or new constructions.
NON-WARRANTABLE CONDOMINIUMS Most lenders avoid these types of mortgage loans, but not On Q! Non-warrantable condominiums and Condo-tels are welcome. Unique loans exist of unique situations.
ONE-TIME CLOSE CONSTRUCTION LOAN PROGRAM This loan combines both interim construction and permanent financing into a single loan transaction, so your borrowers only have to qualify once (prior to the commencement of the loan construction phase). Help your clients get into the home of their dreams!
REVERSE MORTGAGES An experienced and attentive Reverse Mortgage team is ready and committed to doing only these types of loans, helping homeowners, 62 years and older, use their home equity to help supplement retirement. * Freddie Mac and Fannie Mae have adopted changes to the Home Affordable Refinance Program (HARP) and you may be eligible to take advantage of these changes. If your mortgage is owned or guaranteed by either Freddie Mac or Fannie Mae, you may be eligible to refinance your mortgage under the enhanced and expanded provisions of HARP. You can determine whether your mortgage is owned by either Freddie Mac or Fannie Mae by checking the following websites: www.freddiemac.com/mymortgage or http://www.fanniemae.com/loanlookup/.
FIRST-TIME HOMEBUYERS FHA 580 FICO SCORE Everyone knows that homebuyers can purchase a home with an FHA loan with only 3.5% down, but this flexible product with lenient qualifying criteria allows On Q to accept FICO scores as low as 580, with restrictions.
FHA NO FICO SCORE On Q understands that a person’s creditworthiness cannot always be deduced from a FICO score. We’re here to help get your client’s qualified with non-traditional credit evaluations. We use a minimum of 3 alternative credit references to evaluate your eligibility.
97% LTV Options The new 97% LTV financing for first-time homebuyers and refinance loans has created a lot of buzz in the mortgage industry. On Q is excited to offer these loans that can help a section of the market that would otherwise qualify for a mortgage, but need the flexibilty of a lower down payment.
JUMBO LOANS 50% DEBT-TO-INCOME (DTI) If you have potential homebuyers with up to 50% DTI they may be having some problems getting qualified. On Q may be able to help with a fixed-rate term for loans up to 1.5M. Primary Residence Purchase and Rate/Term transactions only.
FIXED-RATE UP TO 90% LTV Offers a 30 year, fixed-rate term for your jumbo sized loan up to 90% LTV with a $850K loan amount with mortgage insurance, OR up to 85% LTV with a $1M loan amount without mortgage insurance.
UP TO $4M FINANCING An ideal option for rate-sensitive borrowers! The interest rate will only adjust 1 time every five years over the life of the loan with a 5/5 ARM. 15/15 ARM loan interest rate will only adjust 1 time over the life of the loan. Program offers a 30 year fully amortizing term.
DOWN PAYMENT ASSISTANCE PROGRAMS, GRANTS, BONDS, ETC. CLAYTON COUNTY, GA DOWN PAYMENT ASSISTANCE AND NEIGHBORHOOD STABILIZATION PROGRAM Offer your first-time homebuyers the ability to apply for a 2nd lien, which is at 0% interest with deferred payments for 5 years, or purchase a home within the Clayton County Inventory under the NSP program with the above terms. The DPA amount is based on the borrower’s income.
DEKALB COUNTY, GA HUMAN & COMMUNITY DEVELOPMENT DOWN PAYMENT ASSISTANCE PROGRAM Help your clients gain access to this non-amortizing, 0% rate loan of up to $8,000. This product has deferred payments for five years and then is forgiven in the sixth year.
DREAM MAKERS GRANT PROGRAM On Q is proud to offer this true, non-repayable grant for Conventional, FHA or VA fixed-rate loan programs ranging from $1,000 to $5,000 in funds for Active Duty, Reserve, National Guard, or veteran military personnel who are first-time homebuyers and meet all of the qualifying criteria.
GEORGIA DREAM Georgia Dream offers fixed rate FHA, VA, and USDA financing. Eligible borrowers may qualify one of the three for a 2nd lien at 0% interest with deferred payments. The Standard DPA is $5,000, the PEN DPA for borrowers in public protection careers is $7,500 and the CHOICE DPA for borrowers who household includes an individual living with a disability is $7,500.
GWINNETT COUNTY, GA HOMESTRETCH DPA This program offers first-time homebuyers a 2nd lien that has 0% interest, payments deferred for 5 years, and the lien is forgiven at year six. This assistance can be used for down payment, closing costs, pre-paid items, intangible taxes, and other costs associated with the loan.
HENRY COUNTY, GA NEIGHBORHOOD STABILIZATION PLAN For Foreclosures only in the target areas of Henry County, this 2nd lien is specific to the property and the qualification of the borrower. The program offers a five year lien with a 0% rate and deferred payment.
NHF PLATINUM GRANT DOWN PAYMENT ASSISTANCE PROGRAM The Grant, up to 5% of the first mortgage loan amount, is a true grant and does not have to be repaid! Even better, new mortgage insurance options with lower coverage requirements are now available for conventional loans.
To learn more about specific programs or how we can help expand your business and make the best of your clients home buying experience, give me a call today.
On Q Financial, Inc. is an Equal Housing Lender. NMLS#5645 / Georgia Lender #22050. Please consult an On Q Financial, Inc. Mortgage Consultant for further information and questions pertaining to specific guidelines and requirements. These programs are subject to change without notice. Underwriting terms and conditions would apply to qualified borrowers. Some restrictions may apply. 068i0000001tbTp
