Loan Programs

* A thru D PAPER LOANS
If your credit is not excellent, these mortgages are for you. From slightly to severely damaged credit, Ace1 mortgage has a program that will get you back on track.

* ZERO DOWN PROGRAMS
Zero Percent Down payment required and closing costs can be financed up to 100% of the purchase price, the borrower pays the closing costs or can have the seller contribute up to 6% towards closing costs.

* 107% DOWN PROGRAMS
Zero Percent Down payment required and closing costs can be financed up to 107% of the purchase price. Only single-family homes that will be owner occupied are eligible. First time homebuyer status not required and there are no income limits.

* NO DOC/ STATED LOANS
Loans where your income is not requested or verified with as little as 10% down are stated income loans.  There are several varieties of the "no-doc" loan today. Basically the type of loan that is best suited for a particular borrower depends on that borrower's situation. Some borrowers choose not to disclose employment, income or asset information, while others may be willing to disclose employment and asset information but not income. Still others might be willing to disclose even income but select a program that doesn't calculate debt-to-income ratios allowing those borrowers to exceed the traditional guidelines in order to qualify for a larger mortgage amount. With all the different variations of the no-doc loan, there is definitely a mortgage program for today's non-conventional borrowers.

* FORECLOSURE BAILOUT

Foreclosure loans help you access your home equity and save your house from foreclosure. Regardless of whether you are being threatened with foreclosure, have a bankruptcy or delinquencies on your credit report you may still obtain a foreclosure bailout refinance loan from us. We can discuss your options and answer any questions you may have about the foreclosure bailout loan process.

* POST BANKRUPTCY LOANS
These loans are loans that allow a borrower to qualify for a loan though they have just come out of bankruptcy. A borrower may qualify for a loan to fit their special needs one day out of bankruptcy. Ace1 mortgage will look at your special needs and qualify you for a post bankruptcy loan.

* HIGH DEBT RATIO LOANS
Borrowers having the ratio of their monthly bills to their monthly income higher than 50% is considered a high debt ratio.  Loan programs are available for these borrowers, allowing them to finance the purchase of a home or property.

* JUMBO LOANS
Offers 30 and 15 year fixed rate mortgage and competitive ARM products with full document, alternate documentation and limited documentation.

* VA LOANS
Backed by the Veterans Administration and the federal government it is similar to FHA except that you have to be a qualified Veteran or military person.

* FHA LOANS
Backed by the Department of Housing and Urban Development this mortgage offers the borrower the ability to put as little a 3% down payment and they can even finance “allowable” closing costs. Seller can contribute up to 6% of the purchase price to the buyer towards closing costs.

* FLEX 97 LOANS
Similar to FHA but without maximum mortgage amount limitations. Must be a single family, owner occupied home and borrower must have a credit score of over 680.

* 125% 2 ND MORTGAGES
Same as above but the 2 nd mortgage we will lend up to 125% of the value of the home.

* INVESTMENT PROPERTY LOANS
Used to finance 1-4 family properties that will be for investment with as little as a 10% down payment. Aggressively priced these programs have many variations such as NO DOC, LIMITED DOC and FULL DOC. PROGRAM NOT AVAILABLE IN NEW YORK.

* CONSTRUCTION LOANS
Building a new home can be an exciting prospect - unless you get caught up in a construction loan approval process that's overly complicated and time consuming. With this loan we will finance up to 90% of the cost of land plus the costs of construction. We offer a one time fixed rate closing or the traditional ARM products.