My New Blog

New Conventional Loan Programs

June 30th, 2021 1:07 PM by Sam Kader

Harbor from WestGen

Conventional and FHA financing with no pay stubs, W2s  or Tax Returns/Transcripts. In order to qualify: 

  1.  Must have 620 FICO score
  2.  No tradelines requirements
  3.  Must have 20% down payment
  4.  Must be W2 employee
  5. Must have current job for 2 years. 
  6.  Employer must have internet presence. 
  7.  Subject property for owner occupied only (manufactured homes are okay). 
  8. Gifts for down payment are allowed. 

FHA financing is available as well. In addition to above: 

  1.  Minimum down payment is 3.5%.
  2.  Down payment less than 10% will require 2 tradelines - 1 for 12 months and 1 for 24 months. 

What lender will do to underwrite files: 

  1.  They will run a salary comparison from or on the job title (be as specific as possible) provided to make sure that title matches the salary on the loan application. 
  2.  Verbal Verification of Employment (VVOE).  Equifax will call the employer to verbally verify employee is still active. If smaller company and there is limited phone coverage during busy work hours, please have employer set-up professional work VoiceMail so Equifax can leave a message. They have limits on how many times they can call back. 
  3.  Please disclose all jobs including second job or part-time job on loan application. 
  4.  Checklist for this program here

Unfortunately the below industries are not eligible to apply 

Please watch this video presentation from our lender.  Program is available on purchases, rate and term refinancing or cash-out refinancing. 

KVOE  from NMSI  

Lite Doc from Quantic 

Posted in:New Programs and tagged: New Programs
Posted by Sam Kader on June 30th, 2021 1:07 PM



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Pacific Coast Financial, LLC

MLO#130505 Lic# MB 78982

2150 N. 107th Street Suite 170
Seattle, WA 98133