Woodward O'Connor Mortgage Associates, CA -Residential loans Fixed Rates with 15, 20, 30 or 40 year amortization Intermediate Adjustable Rate Mortgages (ARM) with fixed rates for 3/5/7/10 years Adjustable Rate Mortgages Home Equity loans and lines of credit Specialized loans Reverse Mortgage Interest only loans Stated Income / Stated Asset No Doc (no income, no asset, no employment) CalPERS VA 100% financing Vesting in Trust On title only (not on loan) Non-occupant co-borrowers Non-residential loans Lot and construction loans Construction to permanent financing Multi-family units Commercial lending Investment properties Additional mortgage services Equity buy-out Pre-purchase planning and loan pre-approval

MORTGAGE INFO
FAQ
RESOURCES
CALCULATORS

“You're always there, making new things possible. It's a pleasure to work with you.”
Kevin Muir and Burnne Yew

SPECIALIZED LOANS

Reverse Mortgage
For people over 62 with equity in your home. Money can be drawn from the equity either in a lump sum or as monthly payments. No repayment is made during the lifetime of the borrower.

Interest-Only Loans
Available on both fixed and adjustable rates for a specified period of time. After that period the loan becomes fully amortized. Recommended if you expect your income to increase or to have a sum of cash available to you in the future.

Stated Income/Stated Asset
For self-employed borrowers or when your income is unusual or hard to prove. There are no verifications of income or assets provided to the lender.

No Doc
Geared to unusual borrowers when you cannot supply verification of your employment, income or assets.

CalPERS
PERS provides special loan programs if you are vested. Up to 50% of your PERS account can be security for a 2nd mortgage on the purchase of a home with a conventional 1st mortgage up to 100% of the value of the home.

VA
The Veteran's Administration secures loans up to 103% of the purchase price of the home. The current lending limit is $417,000.

100% financing
These loans, usually a combination of a first and second mortgage, allow you to purchase a home with no money down. Closing costs cannot be financed, however, so you must allocate your own funds for this.

Vesting in trust
Some lenders allow title to the property to be taken by a trust instead of by an individual.

On title only
On occasion, someone will want to be on the title to the property, but not on the loan. This can be done for a parent, domestic partner, or spouse.

Non-occupant co-borrower
If you do not qualify for financing on your own, we can often add a co-borrower who does not live in the property. Often this is a parent or other relative. All income, assets and liabilities are considered for qualification.

Woodward O'Connor Mortgage Associates
4980 Capitola Road, Capitola CA 95010
Ph. 831-479-3303
Fx. 831-479-3307
www.woodwardoconnor.com
loans@woodwardoconnor.com

California Home Loans • Mortgage Rates • Refinance Specialists