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No Income Check Program

  • No Job Needed
  • Term: 5/1 ARM, 10/1 ARM & 30 Year Fixed
  • Loan Amount Range: Up to a maximum of 3.5 million, Up to 65% Loan to Value
  • Credit Score Requirement: Minimum 620 credit score
  • Take Advantage of Interest Rates as Low as 5.9%!
  • Property Types: 1-4 units properties, Condos, Co-Op, Townhouses
  • Program use for: Primary, Investment, Second Home, Straight Refinance,Cash out Refinance
  • Reserves Requirements: 12 to 36 months
  • You Choose Your Title Preference: You can close in your name or as an company name like LLC or INC
  • Available Region: NY, NJ, CA, NV, TX, MA, IL& Washington
  • Foreign National Available
  • Job Documentation:An accountant's letter is required to provide a job verification letter.
  • Term: 5/1 ARM, 10/1 ARM
  • Loan Amount Range: Up to 70% Loan to Value
  • Credit Score Requirement: Minimum 700 credit score
  • Take Advantage of Interest Rates as Low as 5.9%!
  • Property Types: 1-4 units properties, Condos, Co-Op, Townhouses
  • Program use for: Primary, Investment, Second Home, Straight Refinance,Cash out Refinance
  • Reserves Requirements: 6 to 12 months
  • You Choose Your Title Preference: You can close in your name or as an company name like LLC or INC
  • Available Region: All 50 states
  • Permnant Resident, Citizenship, C8/A5 Visa, All valid Working Visa like H1B

Check Income Program

  • Job Documentation: Paystubs, W-2, 1099, Tax Returns
  • Term: 5/1 ARM,10/1 ARM,15/1 ARM, 15 Year Fixed & 30 Year Fixed
  • Loan Amount Range: Up to a maximum of 3.5 million, Up to 70% Loan to Value
  • Credit Score Requirement: Minimum 700 credit score
  • Take Advantage of Interest Rates as Low as 4.875%!
  • Property Types: 1-4 units properties, Condos, Co-Op, Townhouses
  • Program use for: Primary, Investment, Second Home, Straight Refinance,Cash out Refinance
  • Reserves Requirements: 12 to 36 months
  • You Choose Your Title Preference: You can close in your name or as an company name like LLC or INC
  • Available Region: all 50 states
  • Green card & US citizen only

Conventional Loans

A jumbo loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). Because it is larger than these limits, a jumbo loan cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac. Here are some key points about jumbo loans:

  • Higher Interest Rates: Jumbo loans typically come with higher interest rates compared to conforming loans, although the difference has narrowed in recent years.
  • Credit Requirements: Borrowers need a higher credit score to qualify for a jumbo loan, often a minimum of 700, although some lenders may require higher scores.
  • Down Payment: Jumbo loans generally require a larger down payment, often 20% or more of the purchase price, though some lenders may offer options with lower down payments.
  • Income and Asset Verification: Lenders usually require more stringent documentation of income, assets, and financial stability for jumbo loan applicants, including tax returns, W-2s, bank statements, and proof of liquid assets.
  • Property Types: Jumbo loans can be used to purchase primary residences, second homes, and investment properties.

Jumbo loans are often used for purchasing luxury homes or properties in highly competitive real estate markets where home prices exceed conforming loan limits. For more information on jumbo loans and to determine if you qualify, contact us today.

Fixed-rate loans are a type of mortgage where the interest rate remains constant throughout the entire term of the loan. This means that the borrower's monthly payments remain the same, providing predictability and stability in housing costs. Fixed-rate loans are popular because they offer protection against interest rate fluctuations, making budgeting easier for homeowners. They typically come in terms of 15, 20, or 30 years, with the most common being 30-year fixed-rate mortgages.Sure, here are some more details about fixed-rate loans:

  • Interest Rate Stability: The defining feature of fixed-rate loans is that the interest rate remains constant for the entire duration of the loan term. This means that regardless of changes in the broader financial market or economy, the borrower's interest rate and monthly payment remain unchanged.
  • Predictable Payments: Because the interest rate doesn't change, borrowers can accurately predict their monthly mortgage payments for the entire duration of the loan. This stability makes budgeting easier and provides peace of mind, especially for homeowners on fixed incomes.
  • Term Lengths: Fixed-rate loans typically come with term lengths of 15, 20, or 30 years. The longer the term, the lower the monthly payments, but the more interest paid over the life of the loan. Shorter terms have higher monthly payments but result in less total interest paid and faster equity buildup.
  • Variations in Rates: While the interest rate remains fixed, the total amount of the monthly payment may still change over time due to fluctuations in property taxes or homeowners insurance premiums, which are often included in the mortgage payment.
  • Refinancing: Homeowners with fixed-rate loans may choose to refinance their mortgages if market interest rates drop significantly lower than their current rate. Refinancing can allow them to secure a lower interest rate, reduce their monthly payments, or shorten the loan term.
  • Down Payment and Credit Requirements: Like other types of mortgages, fixed-rate loans typically require a down payment, with 20% being a common benchmark, although some programs allow for lower down payments. Borrowers also need to meet credit score and income requirements set by lenders.
  • Applicability: Fixed-rate loans are suitable for a variety of property types, including single-family homes, condominiums, townhouses, and multi-unit properties.
  • Prepayment Penalties: Some fixed-rate loans may come with prepayment penalties, which are fees charged if the borrower pays off the loan early. Borrowers should review their loan terms carefully to understand if any prepayment penalties apply.

Fixed-rate loans are a popular choice for homeowners who prefer the stability and predictability of a consistent monthly payment. They are ideal for borrowers who plan to stay in their homes long-term and want to lock in a low interest rate. For more information on fixed-rate loans and to explore your options, contact us today.

An adjustable-rate mortgage (ARM) is a type of home loan where the interest rate can change periodically based on a specific benchmark or index. This means that the monthly payments can fluctuate over the life of the loan. Here are some key points about adjustable-rate mortgages:

  • Initial Fixed-Rate Period: ARMs typically start with a fixed-rate period, which can last anywhere from a few months to several years. Common initial fixed-rate periods are 3, 5, 7, or 10 years. During this period, the interest rate remains unchanged.
  • Adjustment Period: After the initial fixed-rate period ends, the interest rate can adjust at predetermined intervals, such as annually. The new rate is calculated based on an index (such as the LIBOR, SOFR, or a Treasury index) plus a margin set by the lender.
  • Interest Rate Caps: ARMs often come with interest rate caps, which limit how much the interest rate can increase or decrease at each adjustment period and over the life of the loan. These caps provide some protection against significant interest rate spikes.
  • Index and Margin: The interest rate adjustments are based on a specific index, which reflects general market conditions, plus a margin, which is an additional amount added by the lender. The total of the index rate plus the margin is the fully indexed rate.
  • Initial Interest Rates: ARMs usually offer lower initial interest rates compared to fixed-rate mortgages, which can make them attractive to borrowers who plan to sell or refinance before the adjustable period begins.
  • Monthly Payment Changes: Because the interest rate can change, the monthly payment for an ARM can also change. Payments may increase or decrease depending on the direction of interest rate changes.
  • Loan Terms: ARMs can have varying loan terms, commonly 15 or 30 years, similar to fixed-rate mortgages.
  • Advantages: ARMs can be beneficial for borrowers who expect to move or refinance before the initial fixed-rate period ends, as they can take advantage of lower initial rates.

    • In summary, adjustable-rate mortgages offer lower initial rates, making them an attractive option for certain borrowers. However, they come with the risk of fluctuating interest rates and monthly payments over time. If you would like more information, please contact us.

General Questions

Everything you need to know About J.W.L Capital Funding LLC and how to get support

The variety of interest rates is due to factors like the borrower's credit score, the type of loan , and whether the loan is secured by collateral. Rates also depend on market conditions, such as inflation and central bank policies, as well as the lender's own costs and competitive strategies. Additionally, loan terms and borrower-specific factors like income and debt levels influence the rates offered. This diversity ensures that lenders can manage risk and provide suitable options for different borrowers.

"Locking in a rate" refers to the process where a borrower and a lender agree to fix the interest rate on a loan for a specified period. This agreement protects the borrower from potential interest rate increases during that period, ensuring that they will receive the agreed-upon rate even if market interest rates rise before the loan is finalized. Locking in a rate is common in mortgage lending, where interest rates can fluctuate daily or even hourly. Once a rate is locked, both the borrower and the lender are committed to honoring the agreed-upon terms until the lock period expires or the loan closes. Locking in a rate provides borrowers with certainty and helps them budget for their mortgage payments without worrying about fluctuations in interest rates.

Absolutely, we're here to help! Whether it's securing a loan or navigating the mortgage process, reach out to us today for personalized assistance and expert guidance tailored to your specific needs.

The down payment required for a loan depends on various factors, primarily the type of loan you're applying for and your lender's specific terms. Assessing your financial situation and consulting with a loan officer can provide clarity on the down payment amount best suited to your circumstances and loan options.

Other Questions

The answers on most common questions are described bellow.

A 5/6 ARM (Adjustable-Rate Mortgage) features a fixed interest rate for the first five years, providing stable monthly payments. After five years, the rate adjusts every six months based on an index plus a margin. This mortgage offers lower initial rates compared to fixed-rate mortgages, appealing to those planning to move or refinance within five years. However, the adjustable rate introduces uncertainty, as payments can vary and increase. Rate caps limit how much the rate can change, offering some protection. This mortgage suits borrowers flexible enough to handle potential payment changes and who expect stable or falling interest rates.

Here are some reasons why an ARM might be advantageous in this loan program:

  • Lower Initial Rates: ARMs often start with lower rates than fixed-rate mortgages, making them attractive for borrowers who plan to refinance or sell before the rate adjusts.
  • Flexibility: For real estate investors or those who don’t plan to stay in the property long-term, ARMs offer financial flexibility.
  • Rate Caps: Many ARMs include rate caps that limit how much the interest rate can increase, providing some protection against skyrocketing rates.

While ARMs offer several benefits, they also come with risks:

  • Rate Fluctuations: After the fixed-rate period, your interest rate and payments can increase, affecting your budget.
  • Refinancing Risks: If you plan to refinance before the adjustable period kicks in, market conditions might not be favorable for a new loan at that time.
  • Understanding the Terms: Make sure you understand the index,margin, and rate caps that will determine your future rates.

Before opting for a 5/6 ARM with JVM Lending’s No Income Verification Mortgage Loan, it’s crucial to assess your financial situation, property goals, and tolerance for risk. If you’re unsure whether this type of loan is right for you, consult with JVM Lending’s mortgage experts for personalized advice tailored to your needs.