Innovative Mortgage Lending

Innovative Mortgage Lending funds loan ONLY in the State of California. All loans must be secured by real estate. Mortgages can be both purchase money and refinance liens in either first and second position. Below are some of the scenarios that would meet our guidelines. There may be many others, but this will provide the concept of the type of loan that we fund.

• Subordinate liens to enable borrower to keep his first trust deed at $417,000 loan amount
• 80-10-10 purchase to highly qualified buyers to eliminate PMI
• Borrowers with a “continuity of obligation” problem such as just purchased or inherited the          property
• Investors owning more than four properties
• Properties needing repairs which makes them ineligible for bank financing
• Properties where vesting in a living trust and the trustee and trustor are not the same person
• Newly retired borrower unable to document prior IRA distributions
• AITD financing
• Borrowers looking for second mortgage to pay down principal to delete PMI on their first trust    deed
• Unseasoned ownership
• Properties that are “flips”
• Unseasoned Income
• Self employed borrowers
• We will purchase a second trust deed out of escrow when originated by the seller as a purchase money second trust deed
• Borrowers with ample assets and yet insufficient income to qualify for an institutional                financing
• Short-term financing for swing loan or short term needs
• Funds to aid elderly parent remain in their free and clear home (not a reverse mortgage)
• FHA Approved Condo. NOT Fannie Mae/Freddie Mac
• To stay under 60% LTV on 1^st Trust Deed
• Avoid jumbo or jumbo conforming loans