NEW 2005-2006
Community Access Program

Annual adjustments in the 2005-2006 mortgage banking guidelines now effictive in many states may allow pre-selected homeowners to achieve a possible 2% rate reduction. 100% of HUD median income. Higher limit in high-cost areas. No income limit in targeted census tracts. If you received a letter reguarding your eligibility, please compute our online application for free pre-approval and more information. The new C.A.P. mortgage is a low interest rate mortgage that can be used for purchase or refinance and debt consolidation. Eligible home owners can significantly reduce their payments with this program.

THERE IS NO CHARGE FOR REGISTRATION

AVAILABLE FUNDING FOR THESE LOANS ARE ON A
FIRST COME FIRST SERVED BASIS.
PLEASE REFER TO YOUR FILE # AND COUNTY WHEN YOU CALL
Call Toll Free 1(800) 991-9575

• Loans are not limited to first time homebuyers and are available for qualified borrowers' home purchases or refinances
• Loans for up to 4-unit properties, not limited to single family units
• Borrowers with 100 percent of the HUD median income qualify for the program, higher limits qualify in higher cost area and no income limits in targeted censustracts.
• No income limits in targeted census tracts
• For single unit properties, only a minimum 580 FICO credit score or acceptable alternative credit if no reported credit score is available.
• Zero points option on origination fees to help borrowers minimize up-front costs
• 3-to-5 percent down payment options, with only 1-to-3 percent required from the borrower's own funds
• Down payment may come from cash on hand, gifts, grants, employer assistance, secured or unsecured loans and/or pooled funds
• 45 percent of the borrower's gross income can be used for the mortgage payment, depending on other debt
• Cash income may be used as an additional source of income with a minimum 640 FICO score or with acceptable alternative credit if no score is available
• No required cash reserves for single unit loans

Features such as the afore mentioned should enable the consumer/homeowner who is seeking to either purchase a home or who has already purchased a home and is seeking to refinance to a lower interest rate, to be successful in this endeavor.

The lower costs, fico scores, credit requirements and increased debt to income ratios of the Community Access Program Home Loans should provide a safe haven for consumers who would be otherwise subject to high interest rate "subprime" lending scenarios. This may allow select homeowners to achieve a possible 2% rate reduction.

Click Here for Short Form Application