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FHA

The Federal Housing Administration Loan (FHA) is most suitable for borrowers who are looking for a lower down payment option on a purchase or to refinance a current FHA loan.

Down payment requirements can be low
In contrast to conventional mortgage products, which frequently require down payments of 5% to 20% depending on your credit history, FHA makes it possible to reduce your down payment to as little as 3.5% on multiple types of properties.

Down payment can be accepted as a gift
The down payment can be 100% gifted from a family member or in some cases a charitable organization. Verification of the source of the gift funds is required. The gift funds must be deposited into the borrower’s bank, or in an escrow account, prior to underwriting approval. Cash gifts are not allowed and proof of deposit is required.

  • The FHA streamline program currently allows borrowers an opportunity to refinance with no appraisal
  • Seller can contribute up to 6% of the borrower’s closing costs

You can also Submit Your Loan Inquiry OR Contact Us.

Bank Statement

Have a self-employed client who has had difficulty obtaining a mortgage?

Angel Oak Home Loans Bank Statement Program allows self-employed borrowers the ability to qualify based on a 12 or 24 month average of deposits using their personal or business bank account.

  • No Tax Returns Required
  • Personal Bank Statement qualified based on 12 month average monthly deposits**
  • Business Bank Statement qualified based on 24 month average monthly deposits**
  • 600 Minimum Credit Score
  • Up to 90% LTV (No MI) allowed on Personal and Business
  • Loans to $3 Million (Minimum $150,000)
  • Interest Only Available*
  • 5/1 ARM or 30-year fixed
  • 2 Years Seasoning for foreclosure, short sale, bankruptcy, deed In lieu
  • Owner-Occcupied, 2nd homes, investment properties allowed
  • Non-warrantable condos considered
  • Gift funds allowed
  • No pre-pay penalty for owner-occupied and/or 2nd homes
  • SFRs, town homes, condos, 2-4 units
  • DTI above 40/45% with no additional reserve requirement

You can also Submit Your Loan Inquiry OR Contact Us.

*Interest-only options will not be available in all states. Please contact your lma for more details. These products may have a higher interest rate, more points or more fees than other products requiring documentation.
**Verification of expense ratio required from CPA

 

Portfolio Select

Don’t let your clients “just miss” their homebuying opportunity.

The portfolio select program from angel oak home loans is designed for buyers who may otherwise “just miss” the requirements of today’s strict conventional underwriting guidelines.

  • Loans to $3 Million (Minimum $75,000)
  • Credit scores as low as 600
  • Up to 90% LTV (No MI)
  • Interest Only Program Available*
  • 5/1 ARM or 30-year fixed
  • 2 Years Seasoning for Foreclosure, Short Sale, Bankruptcy, Deed In Lieu
  • Owner-Occupied, 2nd Homes, Investment Properties allowed
  • Non-Warrantable Condos Allowed
  • 12 month personal bank statements
  • 24 month business bank statements
  • DTI up to 50% considered
  • 1 year tax return program for self-employed available

You can also Submit Your Loan Inquiry OR Contact Us if you have any questions.

*Interest-only options will not be available in all states. Please contact your Licensed Mortgage Advisor for more details.

Home$ense

Waiting years to buy a home is no longer necessary.

  • 1 Day out of foreclosure, short sale, bankruptcy, deed in lieu (including jumbo loans)
  • 500 Minimum Credit Score (Including Jumbo Loans)
  • Loans to $1 million (Over $1M case by case)
  • Up to 90% LTV with No MI
  • 5/1 ARM or 30-year fixed
  • DTI Up to 50% Considered
  • Owner-occupied, 2nd homes, Investment Properties
  • Non-warrantable Condos Considered
  • No tax returns required

You can also Submit Your Loan Inquiry OR Contact Us if you have any questions.

Credit Buster

Sell more homes with the credit buster loan.

If you need a super hero loan program to save the day, Angel Oak Home Loans has the solution for you! Let AOHL put our “super powers” to work with the Credit Buster loan. A FHA Program that allows credit scores below 580.

  • Credit scores as low as 500
  • Max LTV 90%
  • Max ratios of 31/43 for energy efficient homes 33/45
  • Must be DU approve/eligible
  • Gifts allowed-NO DPA or grants allowed
  • Single family and condominiums
  • FHA program
  • No tax returns required

You can also Submit Your Loan Inquiry OR Contact Us.

VA

At Angel Oak, we are proud to have the opportunity to serve our veterans with their home financing needs by providing a VA home loan.

We are proud to offer no lender fees, INCLUDING no origination fees on all VA loans.

  • Up to 100% financing available
  • No monthly mortgage insurance
  • Surviving spouse may be eligible, as determined by VA
  • You must be a Veteran, Active Duty Military or member of the Reserves
  • Fixed rate Mortgages: 10, 15, 30 year
  • Adjustable rate mortgages (5 year fixed)
*If you are a veteran, previously, active or retired or a National Guard or Reserve member you may be eligible for a VA loan. An unmarried surviving spouse of a veteran who died on active duty or later from service-connected causes may also be eligible for the home loan benefit. Verification of employment is required. Not all applicants will qualify under the program guidelines. Each applicant will be evaluated and rates, terms and conditions of the loan may differ depending on each applicant.

You can also Submit Your Loan Inquiry OR Contact Us.

Investor Cash Flow

Attention real estate investors – Are you looking to expand or build your real estate portfolio?

Our investor cash flow program was created to serve your real estate investment goals.

  • Loans to $1 million (minimum $75,000)
  • Credit score as low as 660
  • Up to 80% LTV
  • No personal income used to qualify
  • Qualification based on property cash flow
  • 2 years seasoning, foreclosure, short sales, or bankruptcy, deed in lieu
  • No tax returns required
  • Interest Only Option†

You can also Submit Your Loan Inquiry OR Contact Us if you have any questions.

*These products may have a higher interest rate, more points or more fees than other products requiring documentation.

†Interest-only options may not be available in all states. Please contact your Licensed Mortgage Advisor for more details.

 

Foreign National

Have foreign clients looking to purchase in the US? Products available for second homes or investment.

  • Loan amounts up to $750,000
  • Up to 75% LTV
  • No SSN or ITIN required
  • Purchase and refinance available, C/O allowed
  • Non-us credit accepted
  • Self-employed: Minimum 2 years verified by CPA in country of origin with income verification
  • No tax returns required

You can also Submit Your Loan Inquiry OR Contact Us.

Jumbo Prime

  • 680 minimum credit score
  • Maximum LTVs 90%. No MI.
  • Six (6) months reserves requried
  • Primary residence and second homes are eligible
  • Maximum DTI 43%
  • Gift funds allowed
  • In-house underwriting, processing and closing
  • Loan amounts over $1.5M require secondary appraisal*
  • Interest-only options+

You can also Submit Your Loan Inquiry OR Contact Us if you have any questions.

*Secondary appraisal product to support the appraised value.

+ Interest-only options may not be available in all states.

Platinum

Jumbo program with only 10% down.

  • Loans available up to $3 million
  • Credit scores as low as 660
  • LTV’s up to 90%, 85% to $3million
  • No tax returns required
  • Interest only options*
  • 12 month personal bank statements
  • 24 month business bank statements
  • Primary and secondary homes

You can also Submit Your Loan Inquiry OR Contact Us.

*Interest-only options will not be available in all states. Please contact your Licensed Mortgage Advisor for more details.

Jumbo Buster

More home for less money down.

  • Home purchases up to $792,700 with only 5% down. In high cost areas home purchases up to $1 million
  • 95% in house agency second
  • In house underwriting
  • No tax returns required
  • Interest-only options available*

You can also Submit Your Loan Inquiry OR Contact Us.

*Interest-only options will not be available in all states. Please contact your Licensed Mortgage Advisor for more details.

 

CA Jumbo Buster

More home for less money down.

  • 80/15 combo, agency 1st, in-house 2nd
  • Expand your mid-range jumbo buyer pool
  • Up to $762,000 sales price with only 5% down
  • Interest-only options available*

You can also Submit Your Loan Inquiry OR Contact Us.

*Interest-only options will not be available in all states. Please contact your lma for more details.

 

ARMs

Most suitable for borrowers who are seeking the flexibility of a lower rate but do not plan on staying in their home up to 15-30 years.

  • 5, 7 & 10 Year ARM options available (amortized over 30 years)
  • Loan amounts to $3,000,000
  • Max LTV 80%
  • Primary and second homes

Fixed Rate

Most suitable for borrowers who are looking for rate stability and plan on being in mortgage for an extended timeframe.

  • Loan amounts up to $424,100
  • Fixed Rate Mortgage (10, 15, 30 year)
  • Adjustable Rate Mortgage (10, 15, 30 year)
  • 30 year fixed conventional

You can also Submit Your Loan Inquiry OR Contact Us.

Asset Qualifier

Perfect for borrowers with high net worth and significant assets.

  • No employment, no income, no DTI
  • Primary residence, purchase only
  • Credit score as low as 700
  • Loans up to $3 million (minimum $150,000)
  • Maximum LTV-75%
  • Borrowers must have a minimum of $500,000 post closing assets.
  • Qualifying assets can be retirement, checking, savings accounts and stocks.
  • No tax returns required

You can also Submit Your Loan Inquiry OR Contact Us.

USDA

This program is administered by USDA Rural Development, which serves the public through more than 800 field offices nationwide. USDA offers borrowers with low to moderate income an opportunity for better affordable housing finance options with little or no down payment.

  • 100% financing available to qualified borrowers
  • Closing costs can potentially be covered by the seller or financed into the loan
  • No down payment required

You can also Submit Your Loan Inquiry OR Contact Us.

Extended Lock Program

120-180 day extended rate locks*

  • No upfront fee
  • One-time rate float down option**
  • Available on Conventional, Jumbo+, FHA and VA fixed rate products

Over 180 days extended rate locks*

  • One-time rate float down options**
  • Locks up to 365 days
  • Available for VA, Conventional, and FHA fixed rate products
  • 1% fee is required at lock and will be credited at closing.

You can also Submit Your Loan Inquiry OR Contact Us.

*Extended rate locks must be 120 days or greater but not exceeding 365 days.

**Subject to market availability. Rate float down option must be executed within 15 days of the closing date.

+1% refundable fee paid at lock in date and will be credited at closing.

Manufactured Housing Program

Borrowers are now eligible for manufactured housing financing.

FHA, VA, & USDA

  • 620 minimum credit score
  • Primary Residence Only
  • Streamlines and IRRRL’s are ineligible

CONVENTIONAL

  • AUS Rendering-Desk Top Underwriter (DU) Only
  • 620 minimum credit score
  • Primary Residence Only
  • Max 80% LTV

You can also Submit Your Loan Inquiry OR Contact Us.