Orleans Place Financing Overview

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Investor Mortgage Planning Nationwide

• Orleans Place Financing Overview

Joe Brosious Sr. Mortgage Planner
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Office Phone [phone] Office
Fax [phone]
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• Financing Overview?
• Progress at the Mississippi Development Authority
  (MDA)
• Environmental Review Done
• Gov Barbour Steps up Pressure
• Current State of the Lending Industry
• Interest Rates
• Program Availability
• Timeline Master Gameplan for Orleans Place
• Depends on numbers from MDA
• Still expecting first units in June

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• Financing Overview?
• MDA Loan Program
• Things We Know
• Things We Dont Know
• Assumptions Currently Being Made
• Loan Structure
• Timelines
• Many questions will be answered when we see the
  first MDA loan approval.

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• Loan Options For Investors
• Fixed Rate Mortgage
• Current Market and Rate Volatility
• Adjustable Rate Mortgage
• ARM Outlook

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• Loan Options For Investors
• Fully Amortized (Principle and Interest)
• 30 Year Fixed mortgages pricing out best
• Interest Only
• Penalties to Interest Rate on IO programs result
  in very small reduction in payment
• IO loans for investors have stopped making sense

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Pricing Scenario Investor Purchase of a Duplex
265,000 10 Down Payment 65 First Mortgage,
Loan Amount of 172,250

• Interest Rate Calculations
• Full Documentation Scenario
• 30yr Fixed Mortgage _at_ 6.875
• Principle Interest Payment of 1131 per month
• Minimum of a 680 credit score
• Add 500-600 to payment for Taxes, Insurance,
  Prop. Mngmt, HOA
• Stated Income Scenario
• 30yr Fixed _at_ 7.125, Payment of 1160/mo
• 700 credit score to go to 90 (680 may or may not
  be possible)
• Assumptions Gotchas
• Reserves / Credit History / Job History
• of Properties Owned / Purchase History

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• Items Required for Submission?
• Full Documentation
• 2 months worth of current bank statements (all
  pages front and back for all open accounts)
• Current quarterly asset statements for all
  retirement, IRA, 401k, etc., accounts
• Last 2 years W-2s, or if self-employed last two
  years tax returns
• Current pay stub (or pay stubs showing at least
  30 days worth of pay)
• Copy of Drivers license
• Copy of Social Security Card
• Home Insurance information for the property
  (Agent, Company, Contact Info)

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• Items Required for Submission?
• Stated Income
• 2 months of most recent bank statements for all
  open bank accounts (all pages front and back
  required for all accounts)
• Current quarterly asset statements for all
  retirement, IRA, 401k, accounts (all pages front
  and back)
• Copy of Drivers license
• Copy of your Social Security Card
• CPA Letter Stating 2 years of self employment or
  2 years worth of a relevant business license
• Home Insurance information (Agent, Company,
  Contact Info)

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Office Phone [phone] Office
Fax [phone]
Please call or email Andrea Silva to set an
initial appointment to start your
file. asilva_at_envisionlending.com 916-786-5502