ADVANCED LOAN SEARCH APPROVED CONDO LIST Tutorial

100% Financing - First time home buyers

0% Down Payment Assistance

  • Income W2: 2 years employment history w/paystubs
  • Income Self-Employed: 2 Years of Tax-returns
  • Income Retirement, Social Security, Pension.
  • Max. Purchase Price $490,000 (Pinellas and Hillsborough)
  • 640+ credit score
  • Student Loans OK (1% of the balance)
  • Gift money OK (family member)
  • US Citizen, US residents, Work permit & DACA
  • DTI or Debt Ratio 34%/43%
  • No Mobile or Manufacured homes
  • Up to 6% seller concessions
One of our real estate partners will negotiate with the seller to help you pay the closing cost!

FHA - First time home buyers

  • Income W2: 2 years employment history w/paystubs
  • Income Self-Employed: 2 Years of Tax-returns
  • Income Retirement, Social Security, Pension.
  • Down Payment 3.5% (score 640+)
  • Down Payment 3.5% (score 580+, reserves required)
  • Down Payment 10% (score 550 to 579, reserves required)
  • Collection do not matter
  • Student Loans OK (0.5% of the balance)
  • Gift money OK (family member)
  • US Citizen, US residents & DACA
  • DTI or Debt Ratio 34%/43%
  • MI or mortgage insurance is required for the life of the loan.
  • Up to 6% seller concessions
If you want to purchase a home of:

  • $200,000 you need $7,000-$10,000
  • $250,000 you need $8,750-$11,500
  • $300,000 you need $10,500-$13,000
  • $350,000 you need $12,250-$15,000
  • $400,000 you need $14,000-$17,000
  • $450,000 you need $15,750-$18,000
All amounts are estimates, assuming seller concessions.
One of our real estate partners will negotiate with the seller to help you pay the closing cost!

Conventional

  • Income: 2 years employment history
  • Down Payment 5% (score 620+)
  • Collection may require to be paid
  • Student Loans OK (1% of the balance)
  • Credit Score 620+
  • Seller concessions 3%
  • Gift money OK
  • US Citizen & US residents
  • DTI or Debt Ratio 34%/43%
  • MI or mortgage insurance is required until you gain 20% of equity on your property.
  • Up to 3% seller concessions
If you want to purchase a home of:

  • $200,000 you need $10,000
  • $250,000 you need $12,500
  • $300,000 you need $15,000
  • $350,000 you need $17,500
  • $400,000 you need $20,000
  • $450,000 you need $22,500
  • *add 2% of closing cost
    • * One of our real estate partners will negotiate with the seller to help you pay the closing cost up to 3%

    Self-Employed

    • Income: 12 Months of Bank Statements
    • Down Payment 10% (Score 740+ | 6 Months reserves)
    • Down Payment 20% (Score 680+ | 3 Months reserves)
    • Down Payment 20% (Score 660+ | 6 Months reserves)
    • Down Payment 25% (Score 620+ | 3 Months reserves)
    • ITIN Down Payment 20% (Score 680+ | 3 Months reserves)
    • Collection doesn’t need to be pay
    • Qualifying Residual Income $1,500 and DTI 50%
    • No mortgage insurance required
    • Up to 6% seller concessions
    • Income: 12 Months of Profit & Lost Statement
    • Down Payment 10% (Score 740+ | 6 Months reserves)
    • Down Payment 20% (Score 680+ | 3 Months reserves)
    • Down Payment 20% (Score 660+ | 6 Months reserves)
    • Down Payment 25% (Score 620+ | 3 Months reserves)
    • ITIN Down Payment 20% (Score 680+ | 3 Months reserves)
    • Collection doesn’t need to be pay
    • Qualifying Residual Income $1,500 and DTI 50%
    • No mortgage insurance required
    • Up to 6% seller concessions

    A Bank Statement or Profit & Lost Statement Loan may be the solution for self-employed borrowers

    When you’re self-employed, you don’t have the luxury of being able to provide pay stubs or show net income on tax returns when you’re trying to secure a mortgage loan. Not having these required documents can make getting approved difficult, even if you have good credit.
    Our Bank Statement Loan program allows self-employed borrowers to seek a home loan without showing net income on taxes or pay stubs. We look at your income over 12 months using bank statements, and if you meet our criteria, you can get a mortgage loan with a competitive rate.

    Jumbo

    • 10% Down Payment
    • W2 and Self-Employed
    • Fixed and adjustable rates available
    • Minimum credit score 660
    • Interest Only Program available
    • 3 months reserves
    		If you want to purchase a home of:

    • $600,000 you need $75,500
    • $700,000 you need $85,750
    • $800,000 you need $96,500
    • $900,000 you need $107,250

    VA

    • Active military personnel and veterans
    • Income W2: 2 years employment history w/paystubs
    • Income Retirement, Social Security, Pension.
    • Down Payment 0% (score 580+)
    • Collection do not matter
    • Student Loans OK (1% of the balance)
    • Gift money OK (family member)
    • US Citizen, US residents
    • DTI or Debt Ratio 34/43
    • No MI or mortgage insurance required
    • Up to 4% seller concessions
    		If you want to purchase a home of:

    • $200,000 you need $6,500
    • $250,000 you need $7,750
    • $300,000 you need $8,500
    • $350,000 you need $9,250
    • $400,000 you need $10,000
    • $450,000 you need $12,750
    One of our real estate partners will negotiate with the seller to help you pay the closing cost!

    USDA

    • 0% down payment
    • Property must be located in USDA area SEARCH MAP
    • Active military personnel and veterans
    • Income W2: 2 years employment history w/paystubs
    • Income Retirement, Social Security, Pension.
    • Credit score 620+
    • Collection do not matter
    • Student Loans OK (1% of the balance)
    • Gift money OK (family member)
    • US Citizen or US residents
    • DTI or Debt Ratio 34/43
    • No MI or mortgage insurance required
    • Up to 6% seller concessions
    		If you want to purchase a home of:

    • $200,000 you need $12,000
    • $250,000 you need $15,000
    • $300,000 you need $18,000
    • $350,000 you need $21,000
    • $400,000 you need $24,000
    • $450,000 you need $27,000
    One of our real estate partners will help you find the right home.

    No Income

    • No need to show employment or income
    • No tax returns, no paystubs, no W2s, no 1099s
    • SFR, PUD, Townhome, Condominium (Condos in Florida require a Full Cond Review), 2‐4 Unit, Modular, Rural and Log Homes.
    • US Citizen, Permanent Resident Alien, Non Permanent Resident Alien (With US Credit and acceptable VISA).
    • Two (2) tradelines reporting for 12+ months or one (1) tradeline reporting for 24+ months, all with activity in the last 90 days. *First Time Home Buyers are allowed to apply a 12 month recent and satisfactory VOR towards the tradeline requirement.
    • Gift Money OK (family member)
    • No Mortgage insurance required
    • Up to 6% seller concessions
    • Program Code: Ally-Champ
    • 700+ score requires 20% down (purchase, refi term)
    • 680-699 score requires 25% (purchase, refi term)
    • 660-679 scores requires 30% (purchase, refi term)
    • 640-659 scores requires 35% (purchase, refi term)
    • 720+ score up to 75% (cash-out refi)
    • 660-719 score up to 70% (cash-out refi)
    • 640-659 score up to 60% (cash-out refi)
    • Reservas de 12 a 18 meses son requeridas

    INVESTORS - FLIPS

    Get approved and start building your empire

    FLIP 1 year:

    • 620+ credit score
    • 25% down payment + closing cost
    • For investors only
    • Must own a their own home
    • 1 year ballon
    • Income and employment history not required
    • Collections do not matter
    • US Citizens, US residentes, ITIN
    • Must close under an LLC
    • Personal guarantee required
    FLIP 2 years:

    • Credit score no required
    • 35% down payment + closing cost
    • For investors only
    • 2 years ballon
    • Income and employment history not required
    • Collections do not matter
    • US Citizens, US residentes, ITIN
    • Personal guarantee required
    		DSCR - For rentals:

    • 640+ credit score
    • 25% down payment + closing cost
    • For investors only
    • Must own a their own home
    • 30 years fixed
    • Personal income and employment history not required
    • Collections do not matter
    • US Citizens, US residentes, ITIN

    What it means DSCR? - As long the appraisal report shows the rental income for the property, covers the PITI (mortgage + taxes + insurance + hoa + flood), then you are good!
    Anyone with 25% down + closing cost, can own a real estate portafolio!

    DACA

    • Income W2: 2 years employment history w/paystubs
    • Income Self-Employed: 2 Years of Tax-returns
    • Income Retirement, Social Security, Pension.
    • Down Payment 3.5% (score 640+)
    • Down Payment 3.5% (score 580+, reserves required)
    • Down Payment 10% (score 550 to 579, reserves required)
    • Collection do not matter
    • Student Loans OK (0.5% of the balance)
    • Gift money OK (family member)
    • US Citizen, US residents & DACA
    • DTI or Debt Ratio 34%/43%
    • MI or mortgage insurance is required for the life of the loan.
    • Up to 6% seller concessions
    		If you want to purchase a home of:

    • $200,000 you need $7,000
    • $250,000 you need $8,750
    • $300,000 you need $10,500
    • $350,000 you need $12,250
    • $400,000 you need $14,000
    • $450,000 you need $15,750
    One of our real estate partners will negotiate with the seller to help you pay the closing cost!

    ITIN

    • Income: W2/Paystubs
    • Down Payment 10% (Score 720+ | 6 Months reserves)
    • Down Payment 20% (Score 700+ | 4 Months reserves)
    • Down Payment 30% (Score 660+ | 4 Months reserves)
    • Down Payment 35% (No Score or 620+ | 5 Months reserves)
    • Collection may need to be pay
    • Qualifying Residual Income $1,500 and DTI 50%
    • No mortgage insurance required
    • Copy of passport
    • 2 tradelines open reporting for 12+ months with activity in last 12 months or 1 open tradeline reporting for 24+ months with activity in last 12 months
    • Incomplete Housing or Rental History or Living Rent Free, requires 35% down.
    • Up to 6% seller concessions
    • Income: 12 Months of Bank Statements or Profit & Lost Statement
    • Down Payment 20% (Score 700+ | 3 Months reserves)
    • Collection doesn’t need to be pay
    • Qualifying Residual Income $1,500 and DTI 50%
    • No mortgage insurance required
    • Copy of passport
    • Up to 6% seller concessions
    One of our real estate partners will negotiate with the seller to help you pay the closing cost!

    Renovations (Purchase and refinance)

    FHA 203K:

    • Credit Score 620+
    • Income: 2 years employment history
    • Down Payment 3.5% (score 620+)
    • Maximum draws: 2 (50% at closing and 50% at completion)
    • Contigency reserve: 10%, 15% if utilities off (20% UW discretion)
    • Max Repair Amount: $50,000
    • Collection not require to be paid
    • Student Loans OK (0.5% of the balance)
    • Seller concessions 6%
    • US Citizen & US residents
    • DTI or Debt Ratio 34%/43%
    • Gift money OK
    • MI required for the life of the loan
    		HomeStyle®:

    • Credit Score 620+
    • Income: 2 years employment history
    • Down Payment 5% (score 620+)
    • Maximum draws: 5
    • Contigency reserve: 10% up to 15%
    • Max Repair Amount: $25,000
    • Collection may require to be paid
    • Student Loans OK (1% of the balance)
    • Seller concessions 3%
    • Gift money OK
    • US Citizen & US residents
    • DTI or Debt Ratio 34%/43%
    • MI or mortgage insurance is required until you gain 20% of equity on your property.
    Examples of these allowable improvements are: Structural alterations and additions (except in the case of manufactured homes, where no structural changes are allowed) Upgrade or modernization of central air/heat, plumbing, and electrical systems Installation, repair, or replacement of well and septic systems
    Repair termite or moisture damage
    Remodeling of kitchen and baths
    Energy conservation improvements
    New permanently affixed appliances
    Additions or replacement of exterior decks, patios, and porches
    Major landscaping and permanent hardscape such as driveways, walkways, retaining walls, and fences

    The following improvements are not allowed:

    Improvements that are not permanently attached to the property
    Improvements for business or commercial purposes

    CONSTRUCTION

    • Income: 2 years employment history
    • Down Payment 5% (score 620+)
    • Collection may require to be paid
    • Student Loans OK (1% of the balance)
    • Credit Score 620+
    • Seller concessions 3%
    • Gift money OK
    • US Citizen & US residents
    • DTI or Debt Ratio 34%/43%
    • MI or mortgage insurance is required until you gain 20% of equity on your property.

    Foreign National

    This mortgage product is for foreign nationals wanting to purchase or refinance a home in the United States.

    This is a DSCR program with a 1:1 ratio on cash flow. This means that this loan is incredibly easy to do – no income or U.S. credit required to qualify.     		HIGHLIGHTS:
    • 1 to 4-unit properties
    • Loans from $150k - $4 Million
    • 30% down payment (purchase)
    • 65% LTV (refinance)
    • Investment property ONLY
    • Airbnb, short rentals, short term vacation home OK
    • 5yr ARM, 7yr ARM, or 30 years fixed
    • Interest only available
    • All terms 30 year fully amortized
    • No income, job, or credit required
    • 6 months reserves
    • Cannot reside in the United States
    • Must have an eligible Visa: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2
    • No gift funds allowed
    • Assets sourced and seasoned for 60 days - must be in a U.S. FDIC insured bank for a minimum of 30 days
    • Program: angel-oaks

    Reverse Mortgage

    Must be 62+ Years Older

    A reverse mortgage program is intended for seniors, and it enables them to withdraw certain amounts of the equity in their homes. It is a safe plan, and it offers independence, safety, and peace of mind. It can be used for unforeseen medical expenses, retirement, home reconstruction, estate planning, and even travel.

    • You retain ownership of your home and title.
    • You do not need to make any monthly payments for as long as at least one borrower continues to live in the home.
    • You only pay for taxes, insurance and HOA (if any).
    • The money you receive is tax free and can be used for any purpose.
    Learn more

    FAQ:
    • Want to purchase a home ?
      - Put down $100,000 and Get a $200,0000 Home
      - No mortgage payments, you only pay for taxes, insurance and HOA (if any).
    • You owe less than 50% on your home??
      Then you can Eliminate your monthly mortgage payment.
    • If your mortgage is paid off or have a small balance?<
      You can get monthly payments or a lump-sum.
    		Requirements:
    • Your home must be your principal residence, meaning you live there the majority of the year.
    • You must either own your home outright or have a low mortgage balance. Owning your home outright means you do not have a mortgage on it anymore. If you have a mortgage balance, you must be able to pay it off when you close on the reverse mortgage. You can use your own funds or money from the reverse mortgage to pay off your existing mortgage balance.
    • You cannot owe any federal debt, such as federal income taxes or federal student loans. You may, however, use money from the reverse mortgage loan to pay off this debt.
    • You must have enough of your own money or agree to set aside part of the reverse mortgage funds at your loan closing to pay ongoing property charges, including taxes and insurance, as well as maintenance and repair costs.
    • Your home must be in good shape. If your house does not meet the required property standards, the lender will tell you what repairs need to be made before you can get a reverse mortgage loan.
    • You must receive counseling from a HUD-approved reverse mortgage counseling agency to discuss your eligibility, the financial implications of the loan, and other alternatives.

    We provide the best rates quick closings Jumbo loans Conventional VA loans FHA loans and best customer service!

    STEP 1

    Find out how much you can actually afford now!

     
     
    Borrower
     
    How do you get paid? :
    MINIMUM Credit Card(s) Payments :
    * include mortgage payments (if any)
    Car Payment(s) :
    Do you receive alimony or child support?
    (or any other monthly income)
    Do you pay monthly alimony or child support:
    Student Loans 0.5% (of the balance) :
     

    STEP 2

    Want More Than An Estimate?

    The next step is to get an approval letter, stating how much you’re pre-approved.

    Before house hunting, you need an approval letter. Helps sellers know you’re serious about buying.

    How long does it take?

    It only takes three minutes.

    Buy A Home
     

    STEP 3

    After you submit your application, you MUST Authorize and Pay for your credit report.
    Otherwise, we can't process your application.

    Authorize & Pay for Your Credit Report

    Latest News

    1 November

    FREE credit repair

    Do you have credit issues? Not a problem we help you increase your credit scores.

    25 October

    Self-employed?

    Many self-employed buyers do not show enough income in their tax returns. We can use the average of your deposits of your latest 24 months of business bank statements as income

    15 October

    Down Payment Assistance Program

    We are certified with several down payment assistance programs, that allow you to purchase your home with a small amount of money. We offer Federal, County, and City programs. Please, apply, and we will assign the plan the best fit your needs.

    What Client’s Say

    All questions asked were answered right away to ease any worries. Daniel Caceres is highly professional and made everything extremely easy. He streamlined paperwork and made the entire process simple. All questions asked were answered right away to ease any worries. Highly recommend.

    Erick from Pinellas Park, FLZillow review

    We had a great experience working with Daniel on our home loan. He was able to approve our loan and close very quickly under a tight deadline. He was always quick to respond and answer any questions we had and made the whole process easy. He locked us into a great rate with some closing cost discounts too. We would definitely recommend Daniel and Generation Mortgage.

    Zac B from Saint Petersburg, FLZillow review

    Helpful in getting my loan very quickly and with my goal of lowest amount due at closing for my Quicken Loans mortgage. Went above and beyond to help me in getting it done for me. Daniel is highly recommended by me to anyone.

    johncibrone55 from Saint Petersburg, FLZillow review

    Lender was great, and helpful. He answered all my question, even when i text him at night time. I highly recommend Daniel to any person that is trying to get a home purchase.

    Vitian Padron from Saint Petersburg, FLZillow review

    Very professional and quic was able to close earlier than expected. Highly recommend Mr. Caceres to anybody looking for help with a home loan. He was very quick to reply to my many emails and had the answers to my questions every time. Thank you again Daniel :-)

    RobertReynolds4 from Pinellas Park, FLZillow review

    Thanks to Daniel Caceres I have made homeownership a dream come true. Not only did he introduce me to a great realtor but with his guidance I was able to get assistance with my down payment. Thanks again for helping me close on my wonderful home.

    spiderlaura1971 from New Port Richey, FLZillow review

    My experience with Daniel was great he was honest very knowledgeable prompt very professional and followed through on what he promised I would definitely recommend him to family and friends. With this being my first time buying a home he made sure I was well informed and helped me every step of the way excellent communication

    lashayjenkins45Zillow review

    No one could've told me that buying a home could be so simple. Daniel made this process happen. He responded to every email within seconds which was a A+ in my gradebook. Very knowledgeable at what he do and also will give out helpful tips. I would recommend him to any and everyone who is a first-time home buyers. I would work with him again.

    user55364205Zillow review

    Daniel Caceres was very professional/knowledgeable person by answering every question we had and making it simple to understand. There was never a time when he said, "oh I forgot to tell you". He was there to help no matter what time of the day it was. A very caring and honest person. Thank you Daniel Caceres.

    theirizarryfamily from Saint Petersburg, FLZillow review

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    Our commitment is to always do the best for our clients!

    Get in Touch

    Contact Us

    • South Pasadena: 1155 Pasadena Ave S - Suite H
      South Pasadena, FL 33707

    • Main Office: 12052 100th Ave
      Seminole, FL 33772

    • Phone: 727-642-1166

    • Email: dcaceres@gmloans.com

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    NMLS# 1283562
    FL State Licence # LO28654

    © Copyright 2024 Generation Mortgage Associates, LLC. All Rights Reserved.
    Generation Mortgage Associates, LLC ©2024 - South Pasadena: 1155 Pasadena Ave S - Suite H, South Pasadena, FL 33707 - NMLS# 1310478

    Mortgage rates could change daily. Actual payments will vary based on your individual situation and current rates. Some products may not be available in all states. Some jumbo products may not be available to first time home buyers. Please remember that we don’t have all your information. Therefore, the rate and payment estimates may not reflect your actual situation. We offer a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call 727-642-1166 to talk to one of our mortgage experts. TODAY'S RATES: These are the based rate for 740+ credit scores and do not include any hits for loan amount, DTI, LTV, property location, property type, transaction type, and others. The rates changes several times a day and may not be available at the time you decide to lock your rate.