Rates as low as 1.95%*

• First Time Home Buyer Assistance
• Down Payment Loans and Gifts
• Up to 125% LTV Loan Programs
• No Income Verification - No DOC Loans
• Self Employed - Stated Income Loans

First Time Home Buyer Assistance

Considering buying your first home? Short of funds? If your gross income does not exceed the maximum income limits, then you may qualify for a low interest rate deferred payment loan of up to $45,000 and not more than 25% of appraised value of the home.

Union Lending provides information and assistance for First Time Home Buyers in the purchase of your first home. The homebuyer must be a first time homeowner. The homebuyer cannot have had an ownership interest in a principal residence in the last 3 years preceding the date of application. The homebuyer must occupy the home as a principal residence.

The homebuyer may need to contribute a minimum of 3% of the purchase price from personal funds and may need to participate in an approved homebuyer education course. The appraised value of the home you want to purchase may not exceed the FHA mortgage limit. Homes may be either single-family, condominiums or town homes. The homes must be free from any health and safety defects to meet the federal Housing Quality Standards. Prior to closing you may need to provide a certificate of completion from an approved homeowner education program.

If all program and lender requirements are met, your purchase will be finalized and you will be the owner of your first home! Call Union Lending at 1-877-UNIONS-9 to get started or for more information on these loan programs. Back to top

Down Payment Loans and Gifts

Union Lending provides information and assistance qualifying for Down Payment Loans and Gifts loan programs. Loans and gifts can help with your down payment but you cannot use this strategy for all loan programs. A popular tactic, which can be used in a wide range of programs, is to borrow from your pension or 401K program. If you have a 401K program with your employer, you can withdraw without a penalty for your down payment and pay it back over a specified period.

There are some drawbacks, the payment will be used in qualifying and your 401K account will not continue to grow as fast. Even with these drawbacks, it is often a smart move if this is your only option. Call Union Lending at 1-877-UNIONS-9 to get started or for more information on the many loan programs and their policies.

Other Resources:

California Housing Finance Agency
1121 L Street / 7th Floor Sacramento, CA 95815
(916) 322-3991

California Department of Housing & Community Development
P.O. Box 952050 Sacramento, CA 94252-2050
(916) 322-1560

Nevada Department of Commerce Housing Division
1802 N. Carson Street / Suite 154 Carson City, NV 89710
(702) 687-4258

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125% High Loan to Value Loan Programs

Union Lending is one of the few lenders to offer loans over and above the value of your property. Our High Loan to Value Loan programs put you in the driver's seat by letting you borrow up to 125% of your home's value. 125% of your home's value refers to the combined percentage of your existing first mortgage and all other loans. High Loan to Value Loan programs may not be available in all states and are available on primary residence properties only.

Use the High Loan to Value Loan programs to eliminate high-interest-rate credit card balances, pay for home improvements, or buy a new car. Call Union Lending at 1-877-UNIONS-9 to get started or for more information on High Loan to Value Loan programs.

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No Income Verification Loans

If you need financing but your income is difficult to prove or document then the answer for you is a Stated Income or No Income Verification loan.

NO INCOME / NO ASSET (NINA) - NO DOC LOANS
No income or asset information is provided or verified. Approval is based on down payment, credit history, and property value. Some programs still require employment documentation, while others do not. No Doc Loans may go to 100% loan to value or 10% down/equity depending on credit.

NO Income or Assets Stated On Loan Application.
NO Reserves Required.
Minimum Credit Scores as low as 600.
Maximum Loan-To-Value up to 75%.
Slightly higher rates and LTV available, as high as 95% (with extra fees).

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NO RATIO - NO DOC LOANS
Similar to the programs above except that no income information is provided or verified on the application.

NO Income Is Stated On Loan Application---No IRS Tax Returns Required.
NO Employment Is Stated On The Loan Application.
Maximum Loan-To-Value up to 80%.
Reserves Of Three (3) Months PITI (Principal, Interest, Taxes & Insurance) may be required depending on program and credit score.

Self Employed - Stated Income Loans

Borrower needs a minimum of 2 years of self-employment history or employment history in the same field. Proof for minimum of 2 years employment history for self-employed borrowers may be accomplished by obtaining a typed letter from an accountant/CPA on their company letterhead to get verification of the borrowers self-employment. If an accountant is not available, two years of business license or confirmation from 3 disinterested parties may be required. Your ability to qualify for the loan is based on the income stated on the application. The income must be in line with your occupation.

Stated Income Is Not Verified---No IRS Tax Returns Required.
Self-Employed, Salaried, or Commissioned.
Maximum Loan-To-Value Is 80% with a Maximum CLTV of 90%.
Reserves Of Three (3) Months PITI (Principal, Interest, Taxes & Insurance) may be required depending on program and credit score.

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*Programs subject to conditions - Call 1-877-UNIONS-9 for details.