The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.Arthur William Ward
That’s just what I did this past week. I adjusted the sails by moving to a new mortgage bank. The bank is not new, though. American Pacific Mortgage (APM) was founded in 1996 in Roseville, CA. I am joining a retail branch of APM, called LaSalle Mortgage Services. Their offices are in Montclair but I will continue servicing all of my clients the same way that they have come expect.
American Pacific Mortgage offers several loan products. You can see more about their portfolio below. Know that you can and should still think of me as your problem solver. I love first time buyers too! My job is to shine a light on the process of home finance and to remove the mystery that surrounds getting a mortgage.
You can still reach me by cell at 650-207-4364 but my new email address is: firstname.lastname@example.org I’ll be reaching out to you in the next few days to tell you more about the move. In the meantime, you can see more about what the new bank offers below. Oh, and did I tell you that we have great jumbo loan rates? Well, we do. Tell a friend!
Our Keys on Time** program will help your purchase offer stand out in a competitive market because we will work with you to get full underwriting loan approval to ensure your loan will close on time, even if you have not yet identified the property. We are 100% committed to owning what it takes to get your loan funded on or before the close of escrow. If your loan does not close on time, we will credit you $895 in closing costs.**
You can combine Keys on Time with our SecureLock program to have the security of a locked in interest rate even prior to making a purchase offer.
**Not available in Oregon. The “Keys on Time” program is a limited guarantee that APMC will provide a credit to the borrower of $895 after the close of escrow if, due to some fault on the part of APMC, its originators or other APMC staff, a purchase transaction does not close until a date after the originally stated close of escrow date. The “Keys on Time” limited guarantee does not apply if the purchase transaction fails to close on or before the anticipated close of escrow date due to events/circumstances beyond APMC’s control, including but not limited to, delays caused by: an unacceptable or unexpectedly low appraisal value on the subject property, acts or omissions by the escrow or title company, second lien holder approvals, short sale approval, or loan conditions imposed by the lender that, despite reasonable diligence by APMC, are not met by any party in a timely manner. The “Keys on Time” limited guarantee trigger begins when the initial loan package is received by APMC’s Fulfillment center. The complete loan package must be received in the APMC Fulfillment center a minimum of 20 days prior to the COE date. Exclusions: The limited guarantee does not apply to the HARP program, reverse mortgages, FHA 203k, non-delegated jumbo products or any loans that require prior approval from an investor. The limited guarantee applies to purchase transactions only. All programs are subject to borrower and property qualifications. Rates, terms, and conditions are subject to change without notice.
Lock your rate and secure peace of mind. Our SecureLock* programs offer rate protection from rising rates combined with a full credit approval, while allowing for a float down option if rates go down.
*To qualify for this program, APM must give full credit approval to all borrowers on the loan. There are specific terms for each lock, based on which variation of the SecureLock program is used. Eligible states include: Alaska, California, Colorado, Hawaii, Idaho, Kansas, Oregon, Texas, and Washington.
Contact us today for full details.
Our Bridge Loan programs can help you purchase a new home before your existing home is sold. If a seller is unwilling to consider purchase offers with sales contingencies, we have two programs to choose from:
Close with Confidence Bridge Loan
This loan program is designed for borrowers who are in contract for the sale of their existing property and want to make an offer on another property without a sales contingency. Under this program, you can take the equity from your current home (that is a pending sale) and use the funds to purchase a new home.
Debt Inclusive Bridge Loan
This loan program is designed for borrowers who want to take equity from their current home that is listed for sale and use the funds to purchase another home. All of the debts for the departing residence including any payments on the bridge loan (if any are required) are factored into the borrower’s total DTI when purchasing the new home.
With nearly a dozen Jumbo Investor loan programs to choose from and flexible financing terms, we have you covered. With our in-house delegated underwriting, we control the process to ensure the loan closes on time.
Our Peak loan program allows the purchase of a home up to $1.5M with only 5% down*. Additionally, the loan terms can be extended up to 40 years, with the first 10 being interest- only payments.
The Peak 2nd Lien program allows the option to access the equity in a current home (up to 95% combined LTV) and use it toward home improvement, debt consolidation, or as a source of down payment on a second home.
Our High Balance Solutions loan program can be used to finance a home that exceeds conforming loan limits. The loan amount can be split between a first and second mortgage, which may result in lower monthly payments due to potentially lower rates available through conforming mortgage products.
The Jumbo Solutions loan program is a “sister” program to our High Balance Solutions program. The Jumbo Solutions program can be used if you are looking to finance a home that exceeds conforming high balance loan limits.
Similarly, you can split the loan amount between a first and second mortgage. This may result in lower monthly payments due to potentially lower rates available through high balance conforming mortgage products.
With our Expanded Access program, we have opened the doors to borrowers who need access to financing but don’t “fit” the standard agency or jumbo program guidelines.
The Expanded Access program provides financing options for borrowers that have difficulty documenting their income, or have debt-to-income (DTI) up to 50% (or even 55% on an exception basis).
Expanded Access also provides options to borrowers with a recent credit event such as a short sale/foreclosure or a mortgage late.
Expanded Access offers fully amortizing fixed, ARM and interest only ARM options to facilitate financing on primary, second home and investment properties.
Income property financing just got easier! Investor Advantage gives you purchasing power in the market today for investment properties. There are two loan programs to choose from to fit your needs: (1) No Ratio and (2) Debt Service Coverage Ratio. Contact your Loan Advisor to learn more.
Our Advantage Asset Inclusion loan program is for buyers who have high assets, but a variable monthly income. With this program, buyers can factor in the assets they have remaining – after their down payment and closing costs – as sources of qualifying income. (Not available in Hawaii and Nevada.)
American Pacific Mortgage 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 allow buyers to purchase or refinance a home in need of repairs or renovation and roll the cost of improvements into the mortgage. The loan amount is based on the future assessed price of the home, which helps expand the purchase market to provide financing for short sale or foreclosure properties in need of renovation.
As an alternative to the FHA program, Home Ready is a conventional 3% down* mortgage loan with even more flexible income qualification guidelines. In addition, Home Ready may have reduced mortgage insurance options, including no upfront mortgage insurance fees and may be cancelable per servicer/Fannie Mae guidelines.
If you are looking to purchase a home with a low down payment and flexible sources of funds, our Freddie Mac Home Possible AdvantageSM offers no upfront mortgage insurance fees, cancellable monthly PMI and flexible income qualification guidelines.
** Each county limit is published on FHFA’s website: www.fhfa.gov. Special statutory provisions establish different loan limit calculations for Alaska, Hawaii, Guam and the U.S. Virigin islands.
The STaR loan program rewards full-time teachers, police, fire fighters, first responders and correctional officers for their selfless work by saving them stress and money on their home loans.
Key features include:
- Reduced lender fees for eligible buyers (up to $500)
- Gift fund options can be used for 100% of the home purchase down payment
- Lender paid mortgage insurance options to reduce your monthly mortgage expense
Through the Medical Professionals loan program, doctors and medical professionals (including newly licensed residents) can purchase or refinance a primary residence, and potentially exclude student loan payments with proof of deferment.
It’s our way of saying thank you for all that you do.
American Pacific Mortgage provides a variety of loan programs to support the purchase or refinance of a manufactured home.
*Please visit our Disclosures page for more details for all loan types.