Easy Qualifying Made Even Easier in California

There's easy, easier, even easier, easiest & so easy you won't believe it.

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Step back and take a look at your situation. Don't rush into just any loan. Review all possible options. You may have more alternatives than you thought were possible.

One of the first steps in selecting any financing is to determine if you need a loan program with a reduced level of documentation (sometimes these are called "Easy Qualifying" programs.) If you provide evidence of your income and assets, you will in most cases get a better overall loan. We want you to get the best possible loan program that will meet all of your needs. In some cases borrowers are approved using full or alternative documentation that thought they would only qualify with "Easy Qualifying" plans. Other times buyers want to provide full documentation but can't qualify, unless they use an "Easy Qualifying" program. We'll help you choose a program which best suits your unique situation.

If you don't want to provide income or asset documentation for personal reasons we certainly respect your wishes. The confidentiality of your credit and financial profile will be preserved. Flagship Mortgage Company will protect your privacy as we would our own.

Our goal is to help you select the optimum-financing program. In doing that we explore the benefits of full documentation as well as reduced documentation alternatives. As stated earlier, in general, the more documentation you can provide, the better the overall loan terms. There are a few exceptions to that rule and we will identify those situations for you as part of our service.

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Choose from a broad selection of reduced documentation processing styles.

The two main elements on the loan application subject to reduced documentation are Income and Assets. You may already know that there are several different processing styles or levels of documentation that can be applied to either or both income and assets on residential mortgage loan applications. Following is a brief outline of loan processing styles including "reduced documentation" loan types. Some investors use different elements of each processing style for their loan programs, with the result that actual requirements for different programs can include elements from each level described below. We'll help you choose the optimum plan for you based on the information you can provide and verify.

• FULL DOCUMENTATION This type of loan processing requires you to state the source and amount of your income and assets on the application and the lender obtains independent verification of the amounts stated for both income and assets. This is traditional loan processing. We can help here because many programs today use alternative documentation or only ask for one pay stub, or one W-2, or just use bank statements, while other programs require 2 years complete tax returns. By knowing program requirements we often get full documentation loans for people who thought they needed a more expensive type of program.
• REDUCED DOCUMENTATION This type of loan processing requires you to state the amount of your income on the loan application but the lender does not obtain independent verification. Sometimes this can also be applied to assets (bank accounts etc.) as well as income. Often a "reasonableness" test is applied to prevent someone from buying over his or her ability to repay the loan. One example of this is the proverbial fast food fry cook who claims to be making $20,000/ week, that's not reasonable. Most examples are much less obvious than this one but by understanding the process and how it's applied we can help you get approved for a good loan to make your dream of homeownership come true.
• NO RATIO This type of loan processing does not require you to state the amount of income (sometimes even the assets are not stated) on the loan application. The source of income or employment is stated so that an underwriter can evaluate the "reasonableness" of the proposed payment in relation to the stated job. Reasonableness is less of an issue here but even though an income is not stated, the fast food fry cook in the previous example may have difficulty if the proposed monthly payments are significantly out of line with typical industry pay standards for that type of employment. We'll help you determine when this type of loan meets your requirements to obtain the best available loan program.
• NO DOCUMENT This type of processing requires that no employment, income, or assets be listed on the application. Since nothing is listed for income or assets there is nothing to verify. The only issues to be reviewed and approved are the credit report including credit risk scores, property appraisal, title report, and the purchase contract. This type of loan can really help a deserving person or persons obtain financing but keep in mind that it can be slightly more expensive than other programs.

Remember that every lender has a slightly different version of these processing styles. For example, some programs require that assets are always verified even when income is just stated, other programs accept stated assets but verify income, still others accept stated income and stated assets. We'll help you sort through the confusion to get a plan that meets your needs, is still affordable, and makes qualifying "so easy you won't believe it."

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Loan programs are changing daily. A just introduced program might be the answer you need.

Don't assume that everything is the same as the last time you got a loan. Loan programs change faster than hit songs. Staying on top of the programs being offered means we can help you take advantage of the latest "new and improved" loan programs.

We've financed real estate agents, building industry executives and lending experts. One recent buyer (who used to be a lender) thought he needed a reduced documentation loan to qualify. After asking several questions we were able to use the available documentation to qualify him for a new loan program at a lower interest rate than anyone expected.

We want you to get the best loan program you can. Our satisfaction comes from delivering more than you expect, with no last minute problems. Whether you want the easy way, the least expensive way, or the best of both worlds, we can provide the home loan program you want with terms that may be much better than you expect.

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