NMLS2893|www.mainstreethomeloans.com
THEMAINSTREET difference
MainStreetisdedicatedtoremaininganinnovativeindustryleaderby providing our clients and business partners with exceptional service and open communication throughout the loan process, working together as a passionate and reliable team, and supporting the communitiesweserve.
AtMainStreet,weofferawidevarietyofhomefinancingproductsthat aredesignedtohelpourcustomerachievehomeownership.Wework regularly with lending outlets to enhance our offerings. Included is a glanceatafewofthecurrentproductofferings.
Loan Programs aren’t one size fits all, but we’ve got something in everysize!
Havingnicheprogramsisonething,gettingthemtoclosingontimeis another.MainStreetHomeLoanshasyoucovered!Explorethevariety of products we have that are outside the box of regular financing option,yetstillallowustoprovidethesamegreatservice.
INTERNALUSE ONLY PRODUCTS homebuyer homebuyerFIRST TIME
DOWNPAYMENTASSISTANCE (DPA)
Weunderstandthatsavingforadownpaymentcanbeabarrierthatstandsbetweenclients and homeownership. Main Street Home Loans has access to a wide range of programs designedtosupportbuyersinspecificgeographicareasinadditiontobroaderprogramsthat supportlargerareas
PRODUCTHIGHLIGHTS
NationalHomebuyersFund(NHF)DPA
Secondmortgageloanupto4%ofthelesseroftheappraisedvalueorpurchaseprice(no dollarcap)
INTERNALUSE ONLY
May be paired with FAHE My Place Mortgage, or the Springboard to Homeownership Second NotAvailableinallstates
DPAworkinconjunctionwithanFHAloan-FHAproductguidelinesapply Incomelimitapply
ThisDPAhasOptionforrepaymentorforgivableovertime
ChenoaFund
Down payment assistance provided will be 3.5% of the lesser of the sales price or appraisedvalue
MaybeusedwithHomeReadyorConventionalStandardfirstmortgage Proceedscanbeusedforeitherdownpaymentassistance,closingcostsassistance,ora combinationofboth.Secondmortgageproceedsmaybeusedtofundupto100%ofthe Borrower’scashtoclose
Min660creditscore incomelimitsdoapply
FHA,VA,andUSDAloanDPAoptions(oftenpairedwithlocal/stateprograms)
EverystatehasitsownHousingFinanceAgency(HFA)withuniqueDPAofferings. ManycitiesandcountiesoffertheirownDPAprograms.
PROGRAMADVANTAGES PROGRAM ADVANTAGES
★ Clientspurchasetheirdreamhomefaster
★ Availableforfirst-timeorrepeathomebuyers,coborrowersdonothavetooccupytheproperty
★ Provideslowdownpaymentoptions
★ Someoptionsdonotneedtobepaidbackif requirementsaremet
★ Expandrealtorsnetworktoreachmorebuyers with additionalprogramsthat provideflexibleandfinancing alternatives
★ LowdownpaymentandDPAprogramsenable homeownershiptobearealityformany,soonerrather thanlater
Lookingforproductguidelines?Gotohttps://ai.nfmlending.com/formoredetails!
SuggestedPrompt:(yourstateprogram)DPAGuidelines
COMMUNITY LENDING
A Community Lending Program is a type of mortgage or loan initiative designed to increase accesstohomeownershipandfinancialservicesforindividualsandfamiliesinunderservedor low-to-moderate income (LMI) communities These programs are often sponsored by governmentagencies,government-sponsoredenterprises(GSEs)likeFannieMaeandFreddie Mac,orlocalbanksandcreditunions.
PRODUCTHIGHLIGHTS
Fannie Mae HomeReady® and Freddie Mac Home Possible®: Both are conventional loan programs with low down payment options and flexible guidelines for LMI borrowers.
CommunitySeconds®: Allows borrowers to use secondary financing from a nonprofit, governmentagency,oremployertocoverdownpaymentandclosingcosts.
KEYFEATURES
INTERNALUSE ONLY
Typicallyaimedatfirst-timehomebuyers,LMI borrowers,orthosepurchasingindesignated communityorrevitalizationareas.
FlexibleUnderwriting:Mayoffermoreflexible credit,income,andassetrequirements comparedtostandardloanprograms
DownPaymentAssistance:Oftenincludes grants,forgivableloans,ormatchedsavings programstohelpwithdownpaymentsand closingcosts
PROGRAMADVANTAGES PROGRAM ADVANTAGES
★ CommunityDevelopment:Supportsneighborhood revitalizationandeconomicgrowth.
ReducedMortgageInsurance:Someprograms offerreducedorwaivedmortgageinsurance premiums.
HomebuyerEducation:Manyrequireorprovide freehomebuyereducationcoursestoensure borrowersarepreparedforhomeownership
★ Someprogramsofferreducedorwaivedmortgage insurancepremiums
★ Mayoffermoreflexiblecredit,income,andasset requirementscomparedtostandardloanprograms
LOWDOWNPAYMENT LOANS
Home Ready and Home Possible are conventional programs designed as alternatives to FHA lending.Theseproductsmaybetherightsolutionforlow-incomebuyerswhoneedlowdown paymentorflexibleguidelines.
PRODUCTHIGHLIGHTS
Purchase/rateandtermrefi
97%LTV&105%CLTVwithqualifying2nd
Temporarybuydownsallowed
Boarderincomeallowed
Non-occupyingborrowerspermitted
Nominimumcontributionsrequiredfromborrowersownfunds(i.e.giftsallowed)
Incomerestrictionsapply:80%AverageMedianIncome(AMI)
Singlefamily(1-4units),condo,PUDallowed
DoesnothavetobeFirstTimeHomebuyer
ONLY
PROGRAMADVANTAGES PROGRAM ADVANTAGES
★ Programsoffersqualifiedlow-incomeborrowersa low3%downpaymentfinancingoption
★ Non-occupantco-borrowersmayhelpborrowers qualifyfora1-unitproperty
★ Manytypesofdownpaymentsourcesare acceptable,includingfamily,employer-assistance programs,secondaryfinancing,andsweatequity
★ At20%equity,borrowersmaycancelmortgage insurance- reducingmonthlymortgagepayments
★ Availableprogramscanincludeassistancefor: Buyerswithparentsasco-signers
Seniorslookingtodownsize
Newlywedsshortonsavingsbutabletocover downpaymentwithweddinggiftfunds Renterwithtwolong-termroommateswhowants tojumptohomeownershipandbringtheir roommates(andtheirrent)withthem
Lookingforproductguidelines?Gotohttps://ai.nfmlending.com/formoredetails!
SuggestedPrompt:HomeReady/HomePossibleguidelines
INTERNALUSE ONLY products products GOVERNMENT
FHA LOANS
This loan was designed to make homeownership possible by allowing flexibility with credit and down payments. FHA financing is not just for first-time homebuyers and provides opportunitiesformanyclientsthatmeettheloanguidelines.
buydowncosts ★ Firsttime&subsequentbuyersallowed ★ Streamlinerefinancepossible
★ Optionsforpeoplewithstudentloandebtorlower creditscores
★ Seller/Agentcontributionsupto6%areallowedfor closingcosts
★ Lowdownpaymentoptions
USDA LOANS
WorkinginaruralareawithUSDAcoverage?Thenthisisagreatloanforyourclients!Thisloan was created to help people become homeowners in rural America with no down payment needed. The USDA loan provides flexibility on credit, but does have household income restrictions
VA LOANS
IfyourclientsarecurrentlyservingintheMilitary,aneligibleVeteran,orsurvivingspousethenit istimetotakeadvantageofoneofthemostusefulmilitarybenefits!
We work to knock down barriers and help get VA offers accepted. We strive to make your purchaseofferviewedasequaltoormoredesirablethanFHAorconventionalloans.Wealso providefullunderwritingapprovalbeforelookingforahome.
PRODUCTHIGHLIGHTS
GuaranteedbytheVeteransAdministration(VA).
INTERNALUSE ONLY
Toqualify,borrowermustbeacurrentmemberoftheU.S.armedforces,aveteran,a reservist/nationalguardmember,oraneligiblesurvivingspouse
Nodownpaymentrequiredinmostcases
NoPMIrequirement
Nomaximumloanlimit
Can be used to buy a single family residence, condo, townhouse, manufactured home,ornewconstruction.
Minimumcreditscoreof500
One time VA funding fee (based on down payment, but may be waived in certain circumstances)
TermitereportrequiredonmostVAloans CertificateofEligibility(COE)needed
BorrowermayhavemultipleVAmortgagesatthesametime,basedonEntitlement
★ Minimalfees
★ Flexiblecreditandincomequalifications
★ Noloanlimitswithfullentitlement
★ VAhomeloanbenefitmaybeusedmorethanonce
★ Gifts,grants,andsellercontributions(6%max) allowed
100%giftfundsallowed
Swift,efficient
LoansareAssumable(ifselleragrees)
★ Abilitytogivebacktoourveterans
Lookingformoreinfo?Gotohttps://ai.nfmlending.com/formoredetails!
SuggestedPrompt:VALoans
REVERSE MORTGAGES
Owning a home and leveraging the equity they've built can help make the retirement years less stressful for your clients, while providing them and their heirs with peace of mind. Our in house Reverse Mortgage specialist works directly with clients to provide the best options to meet their needs We handle all the loan details in house so clients can rest assure they are receivingtopnotchservicewithapersonaltouch.
PRODUCTHIGHLIGHTS INTERNALUSE
Maybeusedforpurchaseorrefinance
Borrowermaintainsownership
Proceedstypicallytaxfree
DoesnotaffectSocialSecurityorMedicare
Borrowerisneverforcedtoleavethehome
Debtdoesnotpasstoheirs
Primaryresidenceonly
Allborrowersontheloanmustbeage62orolder
ONLY
Reverse mortgages are loans offered to homeowners who are 62 or older who have equityintheirhomes.Theloanprogramsallowborrowerstodeferprincipal&interest paymentontheloansuntiltheypassaway,sellthehome,ormoveout.Homeowners, however, remain responsible for the payment of taxes, insurance, maintenance, and otheritems.Nonpaymentoftheseitemscanleadtoadefaultundertheloantermsand ultimatelossofthehome.
★ Useforup-sizingordownsizingcurrenthomewith accesstoequity
★ Buyapropertyclosertofamilyorpayoffexisting mortgageanddebts
★ Createsanothersourceofincome
★ Financialplanningtoolsavailabletoassistinlong rangeplanning
★ Use with purchase to allow older buyers to access theirequity
★ Expandsaccessibilitytopropertiesforseniors
INTERNALUSE ONLY TRADITIONAL products products
CONVENTIONAL LOANS
Fannie and Freddie buy about half of all the mortgage loans made by lenders This provides lenderswiththecapitaltomakemoreloans.Theseloansaregreatforanyonewithsolidcredit thatcanmeetFannieandFreddieloanstandards.
Iflessthen20%downborrowerpaidPMI,LenderPaidPMIand1 /2 loanoptionsavailable st nd
PRODUCTHIGHLIGHTS
Financing for Primary, Second/Vacation homes and Investment/Rental porperties
JUMBO LOANS
Have a loan that exceeds the conforming loan limit?: Fret not!-we have a varitey of jumbo solutions to meet most borrowers' needs. In-house delegated underwriting allows us to controltheprocessendtoend.
PRODUCTHIGHLIGHTS
Programsforupto$3M,(withafewprogramsupto$5M!)
MaxLTV/CLTV95%
ARM,fixedandinterestonlyoptionsavailable*
Optionsforcreditscoresaslowas660
Assetdepletionoptionsavailable
DepartingResidenceWaiveroptionsavailable. Non-warrantablecondoprograms
Allowableshort-termrentaloptions
*Restrictions/guidelinesmayapply
★ Giftfundscanbeusedforadownpayment
★ Stock(RSU)incomeallowed
★ Inhouseunderwritingforpersonalized service ★ In-houseoperationsteamhelpsmanage thewholeloanprocesstoensureloansreach closingontime ★ Downpaymentmaybeaslowas10%*
MANUFACTURED LOANS
Today'smanufacturedhomesbreakallthemolds,openingthemarketforbuyerstogetintoa home where they previously could not. Main Street Home Loans provides a variety of loan programstosupportthepurchaseorrefinanceofamanufacturedhome.
PRODUCTHIGHLIGHTS
Conventional,FHAandVAloans
Primaryresidencesandsecondhomes
Upto97%onaprimarypurchaseandrate-termrefinance
Similarfeaturestosite-builthomes
Cash-outrefinanceavailable
Specificguidelinesbyprogramregardingfoundations,roofpitch,garages,etc
★ TheManufacturedHousingSelectprogramoffersa relativelyinexpensivewaytoenterthehousing marketthroughthepurchaseofamanufactured home
★ Manyloanproductsavailabletofittheneedsofa buyer
★ Constructionfinancingavailable
CONDO LOANS
Condos can be ideal for young professionals and families just starting their homeownership journey,aswellasEmptyNesterswhoarereadytodownsize.Regardlessofage,thebenefitsof condos may be worth exploring for a buyer. Often, there is less competition for a condo than there is for a single-family house, making these dwellings more attractive to those who don't wanttodealwithamassivebiddingwar
FIRSTRESPONDERS/NURSES/TEACHERS OPTIONS
Teachers, law enforcement, first responders and nurses are all vital to our communities. We offertotheseprofessionalswithincentivesandreducedfees.It'sourwayofsayingthankyou forthevitalserviceseachoftheseprofessionsprovidetoourcommunities
PRODUCTHIGHLIGHTS INTERNALUSE ONLY
Teachers/Principals/SchoolCounselors
Retired* or currently full-time employed with a teaching credential in a public/ privateK-12school
Police/Sheriff/HighwayPatrol/Trooper/BorderPatrol/CorrectionalOfficers
Retired* or currently full-time employed with city/county/state/federal law enforcement
Firefighters/FirstResponders
Retired*orcurrentlyfull-timeemployedwithcity/county/stateorprivatecompany Nurses
Retired*(RNandCNA)orcurrentlyfull-timeemployedinahospitalorclinic
AvailableforVA.FHAorconventionalmortgages
Reducedlenderfeesforeligiblebuyers(upto$800)
Giftfundscanbeusedfor100%ofthehomepurchasedownpayment
Potentialexclusionofstudentloanpaymentswithproofofdeferment
*Mustbeabletoshowproofofretirement,i.e.retirementstatement
★ Simplifiedsolutiontoobtainamortgageby providingDPAoptionstogivemorepurchasepower andreduceout-of-pocketexpenses
★ Reducemonthlymortgagepaymentwithlenderpaid mortgageinsurance
★ Expandyourhomebuyerpipelinetoincludeteachers, police,firefighters,firstrespondersandcorrectional officers
★ Giveyourbuyermorepurchasepowerwith100%gift fundDPAand/orlenderpaidmortgageinsurance options
Lookingforproductguidelines?Gotohttps://ai.nfmlending.com/formoredetails! SuggestedPrompt:HometownHeroPrograms
HOMEBUYING ASSISTANCE
BUYDOWNPRODUCTHIGHLIGHTS
Temporarybuydownsaregreatsolutionsforbuyerslookingforalowerpaymentforthosefirst fewyears.Atemporarybuydownfeecanreducetherateby3%,2%orjust1%peryear. Forexample,ona2/1buydownrateisreducedby2%inthefirstyear,1%inthesecondyear, thenremainsatthenoteratefortheremaininglifeoftheloanforfixed-rateloans.These buydownsworkgreatwhenthesellerprovidessalesconcessionstoassistinbuydown programs. Buydownmayonlybepaidbyseller,builderorlender Availableonmostconventional,FHAandVAloans Purchaseloansofprimaryandsecondhomesonly
INTERNALUSE ONLY
Borrower's rate cannot increase more than 1% per year including the buydown annualincrease
Borrower qualifies for monthly payment at the note rate (if a fixed rate) not the temporaryratereduction 3/2/1buydown,2/1buydownor1/0buydownoptionsavailable FixedandARMavailable ★ Freesupcashinthebeginningoftheloan,allowing
INTERNALUSE ONLY CONSTRUCTION solutions solutions
CONSTRUCTION FINANCING
Building a home brings a whole new set of decisions, excitement, and frustration Main Street HomeLoanshascertifiedBuilderProsthathavespecificconstructionfinancingtrainingand expertise that provide peace of mind. Whether it's their first new build or not, we can get the financinginplacetomakeyourclient'sdreamhomeareality
PRODUCTHIGHLIGHTS INTERNALUSE
Constructionfinancing:
Upto95%LTVfinancing
Loanamountsupto$3million
ARMoptionsavailable
660minimumcreditscore
50%maxDTIratio*
Singlefamilypropertiesonly FHAandVAloansavailable
Permanentfinancing
Conventional,FHAandVAloans
30-,20-,15-,and10-yearfixed-rateoptions
Permanentloanbasedonfinalappraised
ONLY
One-TimeConstructiontoPermloan
Just5%downtobuythelot,buildyourhome,andlockinyourmortgage
One-timeclosemeanslowerclosingcosts
Choosefrom15or30-yearfixedterms
Financeupto10acres
Availableformodularandstick-builtproperties
Availableinmoststates(notcurrentlyeligibleinTX,AK,HI,orCA)
★ Buythepropertyandbuildyourdreamhome withoneeasyloan
★ Streamlinedapprovalsanddraws
★ Dedicatedconstructionteamforquickprocessing
HOME RENOVATION
Main Street Home Loans has a full suite of renovation lending programs to fit renovation projects large and small, including FHA 203(k) and Fannie Mae HomeStyle®. These programs allowbuyerstopurchaseorrefinanceahomeinneedofrepairsorrenovationandrollthecost ofimprovementsintothemortgage.Theloanamountisbasedonthefutureassessedpriceof the home, which helps expand the purchase market to provide financing for short-sale or foreclosurepropertiesinneedofrenovation.
PRODUCTHIGHLIGHTS
INTERNALUSE ONLY
96.5% max LTV for FHA 203(k) program (110% of the after improved value/100% for condos)
FreddieMacCHOICERenovation®programs
Newconstructionornever-finishedhomesarenoteligible
Eligible properties must be owner-occupied; can be 1-4 units, planned unit developmentsandcondos(forcondos,onlyinteriorrehabilitationispermitted VARenoprogram
NewConstructionorhomesfinishedunder90%arenoteligible
PROGRAMADVANTAGE PROGRAM ADVANTAGE
★ Buythepropertyandbuildyourdreamhome withoneeasyloan ★ Streamlinedapprovalsanddraws ★ Dedicatedconstructionteamforquickprocessing ★ Donotneedtosellcurrenthometoqualify ★ Ownedlandcanbeusedfordownpayment
★ Expandsaccessibilityforbuyerswishingtopurchase propertyandbuildtheirdreamhome
★ MainStreetHomeLoans’Loandedicated,inhouse Renovationteamworksdirectlywithloanofficersto ensureclientsneedsaremet
R
M a x L o a nt oV a l u e R e q u i r e m e n t 14 U
A l l r e n o v a t i o n w o r k a l l o w e d i n c l u d i n g “ l u x u r y ; ” m u s t a d d v a l u e t o p r o p e r t y
M i n o r R e m o d e l i n g a n d N O NS T R U C T U R A L R e p a i r s T o t a l r e n o v a t i o n c a n t e x c e e d $ 5 0 , 0 0 0
A l l r e n o v a t i o n w o r k a l o w e d , i n c l u d i n g “ l u x u r y ” , m u s t a d d v a l u e t o t h e p r o p e r t y
A l l r e n o v a t i o n w o r k
a l l o w e d , i n c l u d i n g “ l u x u r y ” , m u s t a d d v a l u e t o t h e p r o p e r t y
A l l r e n o v a t i o n w o r k
a l l o w e d , i n c l u d i n g “ l u x u r y ” , m u s t a d d v a l u e t o t h e p r o p e r t y
M a j o r r e m o d e l i n g a n d / o r
d e f e r r e d m a i n t e n a n c e ; N o l u x u r y r e n o v a t i o n s ( i e p o o l i n s t a l l a t i o n , o u t d o o r k i t c h e n , e t c )
M i n o r r e m o d e l i n g a n d N O N
N o M i n i m u m A m o u n t
S T R U C T U R A L r e p a i r s T o t a l r e n o v a t i o n c a n t e x c e e d $ 5 0 , 0 0 0
$ 2 , 5 0 0
$ 5 0 , 0 0 0 U p t o 7 5 % o f t h e A f t e r i m p r o v e d v a l u e
M i n i m u m B i d
A m o u n t N o M i n i m u m A m o u n t N o M i n i m u m A m o u n t N o M i n i m u m A m o u n t N o M i n i m u m A m o u n t N o M i n i m u m A m o u n t
M a x i m u m R e n o v a t i o n A m o u n t $ 5 0 , 0 0 0 N o t A p p l i c a b l e U p t o 7 5 % o f t h e A f t e r i m p r o v e d v a l u e U p t o 7 5 % o f t h e A f t e r i m p r o v e d V a l u e U p t o 7 5 % o f t h e A f t e r i m p r o v e d V a l u e
D oi tY o u r s e l f N o t A l l o w e d N o t A l l o w e d N o t A l l o w e d N o t A l l o w e d N o t A l l o w e d N o t A l l o w e d N o t A l l o w e d
C o n t r a c t o r R e q u i r e m e n t s M u s t b e l i c e n s e d p e r l o c a l j u r i s d i c t i o n a n d c a r r y $ 1 M L i a b i l i t y I n s u r a n c e * A c c e p t a n c e R e q u i r e d M u s t b e l c e n s e d p e r l o c a l j u r i s d i c t i o n a n d c a r r y $ 1 M L i a b i l t y I n s u r a n c e * A c c e p t a n c e R e q u i r e d M u s t b e l i c e n s e d p e r l o c a l j u r i s d i c t i o n a n d c a r r y $ 1 M L i a b i l i t y I n s u r a n c e * A c c e p t a n c e R e q u i r e d M u s t b e l i c e n s e d p e r l o c a l u r i s d i c t i o n a n d c a r r y $ 1 M L i a b i l i t y I n s u r a n c e *
INTERNALUSE ONLY NICHE products products
EXPANDEDINCOME LOANS
Every now and then a client comes along with income that's difficult to prove, or who needs someexpandedcriteriatohelpqualify.MainStreetHomeLoanshasloanprogramsthatopen the door to borrowers who need access to financing but don't fit the standard agency or jumboprogramguidelines.Thisincludes:
INTERNALUSE ONLY PRODUCTHIGHLIGHTS
Borrowers who need to use bank statements as income documentation (self-employed only)
Borrowers without a social security number but are living and working in the U.S. for two yearsormore
Borrowerswithadepartingresidencenotyetundercontract
For self-employed borrowers, income is calculated based on bank statement depositsratherthantaxreturns Bankstatementloanoptionwith2yearsself-employment 12-or24-monthbankstatementoptions Upto100%ofeligibledepositsaveragedover12-24months
Loanamountsto$3M
Allows for unlimited investment properties with debt service of 75% with lease, appraisalanddownpayment 80%maxLTV
Loanamountsto$2M
SFR&1-4unitpropertiesandcondos
Allowsforassetdepletiontobeusedinlieuofsalariedincome
★ Providesalternatewaystocalculateincome
★ JumboLoanstoo-upto$3Mavailable
★ Ifclientisaperpetualinvestor-weallowforunlimited properties
★ Availableoptionsformostcreditscenarios
★ In-housedelegationmeanswe’reinregular communicationduringthetransactionfromendtoend tocloseontime
★ Expandtheinventoryofoptionsavailableby providingyourbuyerthemostflexibilityformaximum jumboandcash-outfinancing
BANKSTATEMENT LOANS
BankstatementloansareatypeofNon-QM(Non-QualifiedMortgage)loandesignedprimarily forself-employedborrowers,businessowners,freelancers,orindependentcontractorswho maynothavetraditionalW-2incomedocumentationbutcandemonstratetheirabilityto repayamortgagethroughtheirbankstatements.
PRODUCTHIGHLIGHTS
INTERNALUSE ONLY
Utilizes 12-24 months of personal or business bank statements from the same account
Nomortgageinsurancerequired
Upto90%maxLTV
660minimumcreditscore
50%maximumDTIratio
$3Mmaximumloanamount
$100,000minimumloanamount
Minimumof2yearsself-employmentwithsamebusiness
★ Self-employedindividuals,Smallbusinessowners, Freelancersandgigworkers,Realestateinvestors, Anyonewithsignificantnon-traditionalincome
★ Fixed-rate,adjustableorinterest-onlymortgages available
★ Sellerscanputupto6%ofthesalespriceinclosing costs(2%forinvestmenthomes)
★ Providesasolutionforborrowerswhowouldtypically notqualifyfortraditionalloans,butcandemonstrate stableandconsistentincomeeachmonth
★ Expandyourreachwithself-employedorside-hustle borrowerswithnon-traditionalloansolutions
EXPANDEDCREDIT LOANS
Do you have a borrower facing current or past credit challenges? There are various products available that can assist, depending on individual circumstances, financing needs, and other compensating factors. These programs are tailored for borrowers who may not fulfill the stringent credit criteria of conventional or government-backed loans. Typically, they are part oftheNon-QM(Non-QualifiedMortgage)marketandaimtohelpindividualswithlimited,poor, oruniquecreditprofilessecurehomefinancing.
PRODUCTHIGHLIGHTS INTERNALUSE ONLY
Loanamountsfrom$100K-$3M
Multipleloantermsavailableincluding40yearandinterest-only
Onedayseasoningforrecentcreditevents
Owner-occupied,secondhomes,andinvestmentpropertiesallowed SFR,townhome,condo,2-4units
Firsttimehomebuyerspermitted Maypayoffdebttoqualify Unlimitedcashoutavailable Foreignnationalsallowed ITINrequired
Borrowers with departing residence not yet sold or leased can exclude departing residencepaymentfromDTIcalculationwith20%equity
PROGRAMADVANTAGE PROGRAM ADVANTAGE
★Ifyourclienthashaddifficultyobtainingmortgage financingforahome,secondhome,orinvestment propertyduetoarecentcrediteventorfinancial hardship,wehavemultiplesolutionsavailable
★Qualifyforfinancinginaslittleasonedayafter bankruptcydischarge
★VariousfixedandARMloanterms,withinterest-only ARMproductsifyouareinterestedinalowermonthly paymentforaninitialperiodoftime
★ Realtorspartnerscanincreasetheirpurchase pipelinewithbuyerswhocouldnotpreviouslyqualify duetoarecentcrediteventorfinancialhardship
★ Createbuzzandpositivereviewsbyofferinga programthatassiststhosewhoneednon-traditional financingtogetthemintotheirdreamhomesfaster
Lookingforproductguidelines?Gotohttps://ai.nfmlending.com/formoredetails!
FOREIGNNATIONAL& DACA LOANS
Non-citizens interested in buying a home in the US can still qualify for a loan. A Foreign NationalMortgagecanbemadewithoutcreditorasocialsecurityandcanbeusedasa primary,secondary,orinvestmentproperty
DACA (Deferred Action for Childhood Arrivals) is a government program created for undocumentedindividualswhowerebroughttotheUnitedStatesaschildren,raisedintheU.S., andprimarilyidentifyasAmerican.TheyarealsoreferredtoasDREAMersbecausetheyqualify forthisprogramastheybenefitfromtheDevelopmentReliefandEducationforAlienMinorAct, whichgrantstemporaryconditionalresidencywiththerighttowork
PRODUCTHIGHLIGHTS
ForeignNational
INTERNALUSE ONLY
PROGRAMADVANTAGE PROGRAM ADVANTAGE
INVESTMENT
LOANS
Investors possess distinct needs based on the type of property being financed and their overall portfolio. Main Street Home Loans offers programs tailored to a wide range of clients, from first-time investors to experienced professionals aiming to expand their real estate empire.
PRODUCTHIGHLIGHTS
LTVupto85%
Loanamountsto$2Million
SFRand1-4unitproperties,condosandtownhomes
DSCR75%withleaseagreement,appraisalanddownpayment
Fixedandadjustablerateprogramsavailable
Rateandtermrefinanceandcashoutoptionsavailable
LLCvestingallowed
Unlimitedinvestmentpropertieswithsomeprograms
★ Investorscanqualifyoffthecash-flowoftheproperty, versustraditionalincomedocumentationwhen purchasinganasset
★ Availabletofirst-timeinvestors
★ Cash-outrefinancingprovidesaccesstoequity
★ Shorttermrentalsallowedforrefinancetransactions
★ DebtServiceCoverageRatio(DSCR)offersafinancial alternativeforbuyerswhothoughttheyneededallcash ortheuseofhardmoneylenderstobuyincome properties
★ Cash-outrefinancingisavailabletofreeupfundsfor yourbuyer'snextinvestmentpurchase
★ Nolimittotheamountoffinancedproperties
DSCR LOANS
A Debt Service Coverage Ratio (DSCR) loan can be a powerful tool for expanding your real estate portfolio. Owning real estate can be an excellent investment vehicle with the right financing and management of risk. Main Street offers its visionary investment program to makeyourinvestmentgoalspossible
Upto$2Mloanamounts
Upto80%LTVforpurchaseandrate/termrefis
Upto70%LTVforcash-outrefiwithloanamountsto$2M
★ DSCRloanstakeintoaccounttheproperty'sabilityto generateincome,notjusttheborrower's creditworthiness Thismeansthat,comparedto traditionalloans,theymayqualifyforalargerloan amountbasedontheproperty'scashflowpotential.
★ DSCRloansarespecificallydesignedtoensurea property'soperatingincomecomfortablycoversitsdebt obligations,enhancingtheinvestor'sabilitytomanage multiplepropertiessimultaneouslywithoutstretching theirresourcestoothin
★ DSCRfinancingopensupabroaderrangeofproperty optionsforyourclients
★ ByincorporatingDSCRloansintothefinancingmix, clientscanstrategicallyacquirepropertieswith sustainablecashflow
★ Assistfirst-timeinvestorsastheygetintothemarket throughcashflowqualifications
INTERNALUSE ONLY NON TRADITIONALproducts products
NON-TRADITIONAL OFFERINGS
Manytimes,abuyerssituationdoesn’tfitintheboxoftraditionalproducts.Wehavesolutions for that! These products are an in-house offering that allow us to assist a broader range of clients. The production and processing of these loans remains within our control until close andprovidefinancingsolutionsforeveryborrower.
PRODUCTTYPESFOR: INTERNALUSE
Primary residences, second homes, part-time second homes, and investment property
Non-warrantablecondos
Condoquestionnairemaynotberequired
Assistswithcondosthatmayhaveahighdelinquency
Noreserverequirements
Nonoccupyingco-borrowersareallowed
Financingupto80%LoantoValue/90%CombineLoantoValue
RecreationallandleasesOK
Homeswithacreage
PropertiesinTrustorLLC
ForeignNationalLoans
Currentlylendingtoborrowsfromover40othercountries
MaxLTVof70%
ONLY
MusthavedocstranslatedifprimarylanguageinhomecountryisnotEnglish
Musthaveinterpreteratclosing
Accountant’slettersverifyincomegenerallyrequired. Bankreferenceletters
AnnuitizationLoans
Usedforborrowerswithsignificantliquiditybutminimalincome
Papertransactiononlyusedtohelpqualify
Liquidityincludesretirementaccounts
★ Accessupto$500,000inequity,interestfreeandwith nopayment
★ Thebridgeloancoversthepaymentontheoldhouse forupto6months
★ Useupto$35,000fromthebridgeloantopreptheold houseforlisting
★ Createsnon-contingentbuyers
★ Excludemortgageonthedepartingresidencefrom DTI
★ Makestrongerofferswithlargerdownpayment
BRIDGE LOANS
BUY BEFORE YOU SELL ADVANTAGE The Main Street Bridge Loan gives you access to all of the benefits included with zero upfront costs or payments, and zero interest for up to 6 months. Buyers can leverage the equity in their old house to buy before they sell. The equity advance bridge loan gives buyers access to their equity to use as down payment. They only have to qualifyforthepaymentonthenewhouse!
PRODUCTHIGHLIGHTS
Usecurrentequitytobuyanewhomebeforesellingtheoldone
Allowsbuyerstomakeanon-contingentofferonanewhome
Buildsinfundsforpreparingtheoldhouseforsale
INTERNALUSE ONLY
11monthinterestonlyoptionwithabilitytonotcountbridgepaymentinDTIfornew purchase
ClosewithTheMainStreetHomeLoansBridgeLoan/BridgeLoanPlus
Forborrowerswhoareundercontractwiththeirexistingproperty
Don'tneedasalescontingency
Borrowercanusetheequityfromtheircurrenthome(pendingsale)tofundtothe purchaseofanewhome
Borrower can omit any liabilities connected to the departing residence when qualifyingforthenewhomepurchase
Debt-InclusiveBridgeLoan
Forborrowerswhoseexistingpropertyisn'tyetundercontract
Borrowercanuseequityfromcurrenthometofundtothepurchaseofanewhome
Allofthedebtsforthedepartingresidence,includinganypaymentsonthebridge loan (if any are required), are factored into the borrower's total DTI when purchasingthenewhome
INTERNALUSE ONLY RESOURCE tools tools
Main Street Home Loans stands out as a premier mortgage company because we ' re dedicated to supporting real estate professionals in seamlessly navigating their clients' loan needs.Ourspecializedteamsarealwaysheretocollaborate,communicateandexceptionally serve our real estate partners. Whether it's transforming homes with renovation projects, handlingcommercialtransactions,oraddressinguniquescenarios,ourexpertin-houseteams create a tailored approach, fostering successful partnerships and smooth loan transactions. With a commitment to excellence, Main Street Home Loans empowers real estate agents to providetop-notchservicetotheirclientsacrossadiverserangeoflendingneeds.
LOANFLOW PROCESS
Loan Originates
LockLoan& Redisclose (ifnotcaptured oninitialLE)
compliance reviewcompleted (mustbedoneprior toCD)
MAINSTREETHOMELOANS MOBILE
PutTechToWorkforYourBusiness
SimpleNexusallowsyoutopreformcomplexmortgage calculationswithasimpleinterface,andaccurateresults
Shareyourcustomizedapplicationlink,review applications,issuepre-approvalletters,providesecure documentuploadandevenproviderealtimestatus updatesonloanfileswithclientsandRealtors
CalculateMortgageOptions
Applyforaloanonthephone
ScanEncryptedPaperwork
ChatwiththeTeam
TrackLoanProgress
SignMortgageDocuments
Co-brandedAppandweblink
Easywayforagenttosharetheapplication
Customizehomepagewithpersonalizedweblinks
Makequickcalculations
Helpborrowersgetquickerandeasierpre-approvals
Accessthepre-approvalletterandmodifyastheLoanAdvisorsallows Notificationsandstatusupdates
Communicatewithborrowersandlendingteamviachat Abilitytoremitdocuments/purchasecontractsandaddendums
NFM GPT
GenerativePre-TrainedTransformer
Ourcutting-edgeNFMGPTishereto revolutionizethewayyouwork. Designedexclusivelyforourteam,this secureandcomplianttoolcombinesthe latestOpenAItechnologywithaccessto bothpublicandNFM-specificresources.
From pulling client data to streamlining everyday tasks, it's your ultimate efficiency booster —alwaysatyourfingertips.
Availableanytimefromdesktoporsmartphone
Improvesefficiency,productivity,andcustomerexperienceswitheveryuse
Freetoeveryemployee
AlwaysthelatestinOpenAItechnology
Private,secure,compliant(unlikeChatGPTandothers)
The NFM GPT can access public and NFM only content, guides, job aides and the loan officer'spastclientloandata
ExampleSearches:
"Getallmyclosedloansfrom[date]"
"Whichofmyloanshavearatelockexpiringin days?"
"Whatistheestimatedpropertyvaluefor[address]?"
LOAN CHEAT SHEET
ConventionalFinancing
Fixed-rateandHigh-balance programs
5,7,10,15,20and30-yearoptions
ARMS
5,7,and10-yearoptions
3/2/1,2/1,1/0buydownoptions
LockandShop–60and90-day options
RefinanceandCash-outrefinances available
AdditionalCreditFlexibilities:
Manufacturedhomes
HomeReady/HomePossible
HomestyleRenovationLoans
FamilyFirstMortgageProgram
Purchaseahomeforaging parentsasaprimary residence
Purchaseahomefordisabled childrenasaprimary residence
VAFinancing
Fixed-rateandHigh-balance programs
5,7,10,15,20and30-yearoptions
3/2/1,2/1,1/0buydownoptions
FICOdownto580(High-Baldownto 640)
VAJumbo:FICO640upto$7.5M
Extendedratelocksavailable RefinanceandCash-outrefinances available VAIRRRL
FICOdownto580
BridgeLoan
Usecurrentequitytobuyanew homebeforesellingtheoldone Allowsbuyerstomakeanoncontingentofferonanewhome Buildsinfundsforpreparingtheold houseforsale
Coverspaymentonoldmortgage forupto6monthsuntilitsells
FHAFinancing
Fixed-rateandHigh-balance programs
5,7,10,15,20and30-year options
3/2/1,2/1,1/0buydownoptions
FICOdownto500with10%down; 580with35%down
FHAStreamline(FICOdownto580)
Extendedratelocksavailable RefinanceandCash-outrefinances available
ReverseMortgageoptions available
AdditionalCreditFlexibilities: Manufacturedandmodular homes
HUDREO
HUDwithrepairescrows FHA203kRenovationLoans(Full andStreamline)
AllinOne
Analternativetoatraditional mortgage
Afirst-positionHELOCwithan embeddedcheckingaccount Loanamountsto$2M
Availableforprimary,secondary, andnon-owner-occupiedloans
Jumbo
15-and30-yearfixed-rate options
5-,7-,and10-yearARM options
Cash-outoptionsupto$1M
Loansamountto$5M FICOaslowas660
RenovationLoans
Purchase or refinance and roll the costs of updates/repairs into one mortgage
Loan amount based on the homes valueafterimprovements
Licensed contractor handles the work
Non-QMMortgageSolutions forNon-TraditionalBorrowers
DSCR(InvestorCashFlow)
BankStatements
1099Only
1YearTaxReturn
P&LOnly
AssetQualifying
NoIncome
RecentCreditEvents
LLCVesting
Non-WarrantableCondo
Over4units
FixandFlip
HELOCs/2nds
ITIN
ForeignNationalProgramNoDoc (specificstates)
USDAFinancing
FICOdownto500
30-yearfixed-rate
3/2/1,2/1,1/0buydownoptions
Refinanceavailable
MedicalProfessionalsProgram
7-,and10-yearARMS
Upto95%LTVwithnoMI
Loanamountsupto
$2,000,000
BondLoans
Approvedwithmanystate housingfinanceagencies
ConstructiontoPerm
Conventionalupto90%LTV(95%on exception)
FHAupto965%LTV
VAupto100%LTV
Stick-builtandmodularhomes 15-and30-yearfixed
PROVEN EXCELLENCE
TopWorkplacesUSA
(2021–2025)–USAToday
TopWorkplace (2024)–ScotsmanGuide
TopMortgageEmployer (2015–2017,2019–2022) –NationalMortgageProfessionalMagazine
Top100MortgageCompaniesinAmerica (2013,2015–2018,2021)–MortgageExecutiveMagazine
Top50BestCompaniestoWorkFor (2013–2019,2021) –MortgageExecutiveMagazine
#1ParticipatingLender (2020-2024)-RIHousing
BestofthePines (2019-2024)-ThePilotNewspaper
This is for informational purposes only. All information contained herein is subject to change at any time and there is no representation to the accuracy contained herein. Main Street Home Loans is a division of NFM, Inc. d/b/a NFM Lending. For Main Street Home Loans, a division of NFM, Inc. d/b/a NFM Lending, full agency and state licensing information, please visit www.mainstreethomeloans.com/licensing Main Street Home Loans’ a division of NFM, Inc. d/b/a NFM Lending NMLS #2893 (www.nmlsconsumeraccess.org). Main Street Home Loans a division of NFM, Inc. d/b/a NFM is not affiliated with, or an agent or division of, a governmental agency or a depository institution.www.mainstreethomeloans.com Copyright © 2025 Main Street Home Loans, NFM, Inc. dba NFM Lending. America’s Common Sense Lender® Trade/service marks are the property of NFM, Inc. and/or its subsidiaries. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. www.nfmlending.com
