First National Bank of America
241 East Saginaw Street, East Lansing, MI 48823
https://fnba.com/wholesale
Internal Reviews
(0 reviews)
Total loans closed with Loan Factory
17,923
Total loans closed with Loan Factory (past 12 months)
14,517
Lender overview
Basic information
Conventional
First National Bank of America–ISAOA PO Box 980, East Lansing, MI 48826
N/A
Lock policies & Fees
Lock Policies
60 day lock,
120 day lock for new builds
Automatic 30 day relock
No
Lender's niche & Overlays
Here are the three main loan types we see:
1. ITIN
2. Unique Properties (Vacant Land, Manufactured/mobile homes, barndominiums, non-warrantable condos)
3. 12 month income programs up to 55% DTI
Below are some highlights of our programs and guidelines:
- We finance vacant land, mobile homes, barndominium, home on acreage, non-warrantable condos, etc…
- ITIN (Borrower has a Tax ID Number instead of a Social Security Number. They live & work in the states. They can provide proof of ITIN, 1040 Taxes, and Valid ID [Passport/Consulate card/DL])
- With two borrowers on the same loan, we average the TU score for pricing
- Only need 1 year W2 income or 1 year 1040 self-employment income to qualify.
- Only need 1 year proof of self-employment
- 12 month bank statement loans also apply for our ITIN program
- 12 month P&L – signed off by CPA or Licensed Tax Preparer
- Up to 85% LTV
- No cash out in TX
- No PMI required
- Up to 55% DTI
- We lend in all 50 states
From Submission to CTC, we should be able to close your loans within 30 days!
2. Unique Properties (Vacant Land, Manufactured/mobile homes, barndominiums, non-warrantable condos)
3. 12 month income programs up to 55% DTI
Below are some highlights of our programs and guidelines:
- We finance vacant land, mobile homes, barndominium, home on acreage, non-warrantable condos, etc…
- ITIN (Borrower has a Tax ID Number instead of a Social Security Number. They live & work in the states. They can provide proof of ITIN, 1040 Taxes, and Valid ID [Passport/Consulate card/DL])
- With two borrowers on the same loan, we average the TU score for pricing
- Only need 1 year W2 income or 1 year 1040 self-employment income to qualify.
- Only need 1 year proof of self-employment
- 12 month bank statement loans also apply for our ITIN program
- 12 month P&L – signed off by CPA or Licensed Tax Preparer
- Up to 85% LTV
- No cash out in TX
- No PMI required
- Up to 55% DTI
- We lend in all 50 states
From Submission to CTC, we should be able to close your loans within 30 days!
N/A
Lender turn time
1
1
1
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