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 Kathy Hunt, Account Executive Kathy.hunt@suntrust.com
Office: (770) 352-5085 Cell: (404) 906-4566 Fax: (404) 214-8152 Product Highlights: I want to take this time to recap the different programs we have. It’s easy to get into the habit of sending only certain types of files to a particular lender. Just in case you have put SunTrust into a particular lending box, here are the basics of our most popular programs.
Agency – FNMA/FHLMC We will accept either DO or LP. Regular conforming Flex 97% or Flex 100% (either one loan or 80/20) My Community 97% or 100% (lower M.I. than on flex) Agency Express limited doc options (stated, no ratio or no doc) Custom DO Short Cut (stated income/stated asset with no adjustments)
Portfolio Affordable Housing Program 97% LTV with NO mortgage insurance May have income restriction associated with location of property Can have a 3% second at same rate as first (10 yr term) Seller can pay up to 4% (and 3% of that can go towards down payment!)
EZ Option Program – Alt A 80-20 financing available for primary, second home AND Investor loans Non-warrantable condo’s Cash out to 95% available for primary, second home AND Investors loans. Limited doc options available (NIV, No Ratio, SISA, & No Doc)
Portfolio Libor ARMS Same pricing whether conforming or jumbo No adjustment for interest only 80-20 financing available No Income Verification available Since this is our own product, exceptions can easily be made for variety of reasons.
Seconds We have a variety of seconds available for piggyback loans. Fixed, ARMS, and Flex Equity Home Equity Line of Credit. We also have the Flex HELOC available for stand alone second.
Construction/Rehab Loans We are doing more and more new construction, renovation and tear down loans.
Lot Loans Will do 90% to $250,000 in subdivision, 80% to %500,000 spot lots. 10 acres or less Primary & Second Home only. Frequently Asked Questions: Can you ever close a loan in an LLC? I recently found out that yes we can do loans in the name of an LLC on the Portfolio Libor Arm programs only. Here are the guidelines: · The application must be taken in the individual borrower(s)’ name and credit must be pulled for the individual(s). The loan is qualified based on the individual(s)’ qualifications. · The Note is signed by the individual(s) and the appropriately authorized signor(s) on behalf of the Entity. The Security Instrument is signed by the appropriately authorized signor(s) on behalf of the Entity. The Entity can be involved in the transaction as the title owner of the collateral real property as well as an obligor on the Note agreeing to be jointly and severally liable for the debt. · Maximum LTV/CLTV of 80% · Interest paid on the loan should be reported using the taxpayer identification number of the taxpayer taking the interest payment deduction, which can be the Entity (which will require the Entity to be listed first on the servicing system). As always, thank YOU for your business! White Star Mortgage - 125 Town Park Drive Suite 300 - Kennesaw, GA 30144 Office Phone: (770) 973-0629 Fax: (770) 200-3720 Cell Phone: (770) 713-1662 We lend in the following states: AL,CA,CT,DC,FL,GA,IN,KS,KY,LA,MA,MD,MI,MO,MS,NC,NH,NY,OH,SC,TN,VA,WV © 2008 Myers Internet, Inc. All Rights Reserved Powered by: Myers Internet, Inc. | Admin Login |
