The Home Select Challenge

 It is a mortgage for purchase or refinance that works like a checking account, a revolutionary alternative to the traditional mortgage that allows funds deposited in the checking account to “Offset” the balance of your home loan, significantly reducing the amount of interest accruing daily. It is a first lien position, 30-year open-ended mortgage (HELOC) tied with an embedded transactional sweep-checking account. The Home Select All in One offers some of the lowest comparable home loans and refinance rates available.

• No balloon payment or pre-payment penalty
• Provides 30 years of draw access to equity money.
• Allows for loans to $3 Million without geo-limits.
• Can be used for purchases and realfinances.
• Applies to primary, second and investment properties.
• Single family as well as multi-family homes

The Home Select All in One comes with banking access features including online bill-pay management, direct payroll deposit, ACH transferring, ATM-VISA POS cards, personal checks, digital money transferring (wire), automatic bill-pay, mobile check imaging-deposits, all the features of a traditional checking account. This provides borrowers the flexibility to use their income dollars to drastically reduce their mortgage interest costs, without requiring them to change their budget or lifestyle.  Home Loans and refinance rates comparable effect APRs well below national averages for qualified borrowers.

Requirements:                             

• 700 min FICO: Primary and Second Home
• 720 min FICO: Investment Property
• 90% max LTV 2: Primary Home, Purchase or R/T Refi
• 75% max LTV 2: Investment Property, Purchase or R/T Refi
• 43% max DTI: Requires up to 15% of LOC in reserves.
• Applicants must possess strong positive cash-flow.
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