Liberty Mortgage

2501 S Trumbull Ave, Chicago, IL 60623 Phone: 773-677-6460   Email: libmtg@yahoo.com   NMLS # 1807234
Liberty: Illinois, Florida     DMI: AR, CA, CO, DC, FL, GA, IN,  IL,  MD, MI, NV,  SC, TX,  UT, VI
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Lender – ATHAS

Rep.  

Tomas Salazar

Phone:

818.251.9763

Email: 

Tom@athascapital.com

Web Site:

Click Here

Rates Quote:

Click Here

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Loan Programs;

  • Fix & Flip

    Sometimes a great opportunity comes up in the market. Our Fix and Flip loan

    allows borrowers to purchase a distressed property or refinance an incomplete

    property without the need for draws and escrow accounts.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

     

    DTI:

    90.01-95% LTV: 43% Max DTI

     

     

    80.01-90% LTV: 50% Max DTI

     

       

    Up To 80% LTV: 55% max DTI

  • VOE Program

    Verifiable VOE from Employer (not self-employed or self-prepared). The VOE must be fully

    filled out and must include all income and averages. The VOE must be signed and dated by the

    employer with accurate contact information.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

    k                   kk

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

  • 1099 Program

    For Non-Self-Employed Independent Contractors

    * 2 Years 1099’s

    * Athas to verbally verify accuracy of income on 1099’s

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

     

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

  • P&L Only Program

    Full Year 2017 Complete Profit and Loss Statement and 2018 Complete YTD Profit and Loss

    Statement.

    ..

    Verifiable letter from licensed CPA, Certified Tax Preparer or Enrolled Agent attesting that they

    prepared the P&L Statements or if the P&Ls were borrower prepared then a verifiable letter

    from a licensed CPA, Certified Tax Preparer or Enrolled Agent attesting they are factual.

    ..

    If CPA, Certified Tax Preparer or Enrolled Agent did not prepare P&Ls then borrower to sign

    and date the P&Ls and attest to the accuracy of the P&L’s via handwritten, signed and dated

    letter.

    ..

    Proof that borrower has been self-employed for that business for 2 years.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

     

  • Asset Depletion Program

    * Available for All Employment Types including Retired/Unemployed:

    * Borrower has enough liquid assets to pay Athas mortgage (PITI) for 7 years

      (borrowers cannot be over 55 years in age) or;

    * Borrower has enough liquid assets to pay Athas mortgage in full (no age

       restrictions apply). Borrower must exhibit liquid reserves greater than the new

       mortgage debt, post-closing – i.e. Loan amount = $100k; liquid reserves = $101k.

    * Liquid Assets are assets that exist post transaction and are not inclusive of any cash out proceeds.

    * Retirement Accounts (401k, IRA, etc.….) – NOT Acceptable.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

     

  • Full Documentation Program

    All Conventional Documentation Required,  W-2’s & Pay stubs,   Tax Returns.

    Alt Doc – 12- or 24-months bank statements.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

  • 1 Month Personal Bank Statement Program

    (Self Employed Borrowers Only) 1-month personal bank statement. Use deposits minus any unusually

    * large deposits for income.

    * 650+ Middle Fico score for all borrowers.

    * No mortgage lates in the last 60 months if homeowner.

    * No FC, SS, BK or major MTG delinquencies (over 30 days) in last 5 years.

    * If renter 0x30 VOR for 24 months-VOR must be arms-length and verifiable.

    * Proof Self Employed for 2 years.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

  • Down Payments Or Liquid Cash Reserves

    * All down payment funds MUST be sourced & seasoned 60 days +6 mths

      PITI in liquid cash reserves from 90.01-95% ltv

    * All down payment funds MUST be sourced in the last 30 days from 80.01-90% ltv.

    * 100% Gift funds are acceptable up to 80% LTV – direct relative. $1M-$2M 50% can be gift – $2M+ no gift.

    Occupancy:

    Owner Occupied

    Property Type:

    1-4 Units

    Property T   yp

    Condominium

                             

    Non-Warrantable Condos

    Program:

    1 Year Adjustable

    Terms:

    5 Years

    Index:

    6 Month Libor

    Caps:

    2/2/5%

    Loan Amounts:

    $50,000 Minimum to $3,000,000 Maximum

    DTI:

    90.01-95% LTV: 43% Max DTI

     

    80.01-90% LTV: 50% Max DTI

       

    Up To 80% LTV: 55% max DTI

Other Terms and Conditions on all loans;

No pre-payment penalty on ANY consumer products

.$1,295 Underwriting fee.

.All income tax liens & judgments on credit must be paid through closing if they

are in excess of $2,500. All tax liens and judgments on title must be paid.

.Minimum Rate = 4.99%

.Maximum Points to broker:  3% – Borrower Paid