bankingciooutlook

New Mortgage Insurance Programs Opening Newer Opportunities

By Banking CIO Outlook | Tuesday, July 23, 2019

New loan programs prove to deliver opportunities for the homebuyers to achieve the homeownership goals.  

FREMONT, CA: Simplifying the mortgage process for homebuyers, Silverton Mortgage offers two new loan programs: the self-employed bank statement program and 100% financial loan program. The service expansion aims to save time and ease the mortgage process for the homebuyers. 

The self-employed bank statement program is a customized loan program, allowing the self-employed borrowers to qualify for a mortgage. The plan helps to tackle the application issues for gig economy workers and pay stubs requirements for stable employment proofs, supporting individuals who recently changed the jobs too. It supports the borrowers by providing business or personal bank statement to verify. On the other hand, the financing loan program eliminates the need for mortgage insurance, unlike the standard lending programs

The loan can be used for single units, primary residential properties, applied with median income limits only. It enables the opportunity to access homeownership, forgoing the expense of private mortgage insurance. The available programs vary according to the customers need. These are applicable if all the borrowers meet specific underwriting guidelines and credit criteria. Adding to the benefits for the customers, the newly launched MH Advantage program also offers affordable housing with a competitive mortgage.

Silverton Mortgage, the finance solution company, is a direct lender, helping the homebuyers through the entire loan process. The company supports the clients from the application to closing and managing the process in house, closing the loan faster and hustle free. Considering all the financial factors, which affects the mortgage, Silverton Mortgage efficiently balances the overall procedure at every step. It delivers a perfect combination of business tools and best personal services, satisfying the customer’s home needs. The offerings are not limited to the competitive mortgage rates but also cover various mortgage products with the lowest closing costs focused by the top industry professionals.  

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