Looking for the right loan? Let’s talk.


Embarking on the journey of property ownership can be an overwhelming one. Where do you begin? Do you qualify for a loan? What are your chances of approval and is this really the right move for you?

At Client 1st Mortgage we provide borrowers with options. We look for the right loan that will ideally fit your current situation.

There are typically various niches borrowers can take advantage of in order to meet their financial needs, while also considering their current financial profile.

Conventional Niches:

Conventional niches are for borrowers that meet traditional loan qualifications such as higher credit scores, greater incomes, and adequate savings. These loans, because of their qualifications, do not allow for borrowers to utilize gifts for down payments. Other features include:

  • Delayed financing/Cash out refinance less than 6 months seasoning
  • Up to 10 financed properties
  • First time home buyers can purchase investment property and use rental income to qualify
  • Debts paid by others can be omitted with 12 months canceled check and no lates
  • Short Sale seasoning is 2 years from settlement date
  • Properties less than 90 days are okay
  • Recently listed properties okay for cash out refinance

FHA Niches:

FHA niches are for low to moderate-income borrowers with lower credit scores (500s typically). Although this program is easier to qualify for, borrowers may be required to put more money down, but can utilize a gift as a portion of their payment. FHA niches require mortgage insurance so borrowers can expect a larger monthly payment. Other features include:

  • We offer the FHA Standard and Portfolio Programs with FICO’s starting at 500
  • 12 months seasoning on Short Sales, foreclosure, deed-in-lieu and bankruptcy
  • We offer FHA Flip Waiver Programs
  • Non-Occupant Co-Borrowers OK (No Fico OK)
  • Minimum 500 FICO for at least 1 Occupying Borrower
  • Gifts are acceptable for 100% of down payment and closing costs

Non-prime Niches:

Borrowers taking advantage of non-prime niches are typically recovering from poor credit. They might have experienced a foreclosure or short sale in the last year or two. Borrowers can expect higher interest rates with non-prime niches.

  • One day out of foreclosure and bankruptcy available
  • No prepay penalties
  • No balloon payments
  • Credit score in the 500s
  • Up to 75% LTV available
  • Stated income for non-owner/occupied

Hard Money Niches:

Hard money niches typically consider the value of the property more than the financial profile of the borrower. Borrowers with ok credit can qualify but will be required to put more money down. Many borrowers also utilize this opportunity to purchase property as professional rehabbers.

  • Fix-Flip Special – Short Term No Pre-Pay
  • 100% Financing Available – Fix and Flip  65% ARV
  • Pricing Special 6.99% To 10.99%
  • Stated Income- Investors Only
  • 7 Day Funding
  • Current Foreclosure/Short Sales OK w/35% Down
  • No FICO Minimum
  • 1,2,3 or 5 Year Options
  • Amortized over 30 – 40 Years
  • Stated Income / Verified Assets
  • Up to 75% LTV

Visit us at www.c1stm.com or give us a call sometime at (866) 920-5777 and let’s talk.


Home ownership a bit too pricey for college grads

Damaged credit scores, missed student loan payments, and debt are robbing possibilities of homeownership for an increasing amount of college grads, according to recent reports. In addition to weak job perspectives, high debt levels “have made it hard for many young, educated Americans to buy homes.” CNNMoney

College grads are also increasingly choosing to stay with their parents in order to save money or pay expensive installments on student loans. Unfortunately, this move makes it harder for college grads to build the necessary credit history to someday get a mortgage.

“The result is a decline in percentage of 18-to-32 year olds heading up their own homes – just 34.3 percent as of this past March, according to Pew, versus 36.1 percent in 2007,” according to CNNMoney.

According to a recent report from the New York Federal Reserve “for the first time, the homeownership rate among college graduates was less than non-grads.

Read “Young and smart, but Millenials face homebuying hurdles” for details.

Put people to work, help the economy. Invest in Real Estate.

Info-graph from The Blog at Huffpost Business

Info-graph from The Blog at Huffpost Business

Wondering how you can put people to work, increase property values, and aid in generating 9.2 billion dollars in valuable renovations? Invest in real estate, according to Dean Graziosi, author of Be A Real Estate Millionaire.

“The economic impact potential,” according to Graziosi, “can positively transform the life of anyone who invests.” Real estate investing, through “creating more revenue for the jobs real estate investing creates,” also improves the health of both the local and national economy.

According to an accompanying info-graph, with just one home one real estate investor alone typically puts 15 people to work, as well as the employees, or team, of those 15 people. That home is typically renovated thus improving not only its own property value, but also the property values of surrounding homes.

Renovating property, placing occupants in homes, and improving property values also lowers crime rates, according to the “Broken Window Theory.”

 According to the theory presented in the info-graph, “when a neighborhood has more broken windows and dilapidated properties, it is more prone to further vandalism. When properties are improved, neighborhoods improve, which leads to less crime in that specific area.”

Graziosi concludes that although there is a shift occurring in the real estate market, it is still a great time to get involved. “It is still one of the most accessible ways for ‘mom and pop’ types to dramatically improve their financial picture.”

Please read “Want to Create More Jobs and Help the Economy? Invest in Real Estate…” for details.