The Mortgage Minute | February 2024

Open Doors for Investors with The Wealth Builder Loan

Use only rental income to qualify, no personal income required. Purchases can close in an LLC.

The Wealth Builder Loan from Keller Home Loans is tailored to investors who are self-employed or have difficulty qualifying for traditional financing due to high debt-to-income ratios. By focusing on the property's ability to generate income, we provide a financing solution that looks beyond personal credit and income history. With loan amounts up to $2 million and a maximum LTV of 80%, we offer competitive rates and terms that suit your needs.

Loan Features

• Down payments as low as 20%
• Credit scores as low as 640 FICO
• Minimum loan amount $100k
• Maximum loan amount $2M
• No personal income required to qualify and no tax returns
• Borrowers qualify based on rental analysis to determine property cash flow
• Residential properties only
• 1-4 Unit Properties
• Properties can be in LLC's name

Learn More About The Wealth Builder Loan

Introducing ONE+ by Keller Home Loans

Keller Home Loans is pleased to offer the ONE+ mortgage program, allowing borrowers to purchase a home for as little as 1% down! This exciting program is designed to bring homeownership within reach with an affordable low down payment option.

Highlights & Benefits

• 1% down payment
• 2% grant provided by the lender
• Reduced private mortgage insurance (PMI)
• Primary residence only
• Maximum loan amount of $350,000

Who is Eligible?

The ONE+ program is for eligible first-time homebuyers and repeat homebuyers who make less than or equal to 80% of the area median income (AMI) of the location they're buying in. It's only available for purchase loans with a maximum loan amount of $350,000 and can't be combined with other promotions.

Learn More About ONE+

Introducing Purchase Plus!

First-time homebuyers can get up to $5,250 toward down payment and closing costs.

If your client is a first-time homebuyer in one of the metro-areas listed below, we've got great news. With Purchase Plus, borrowers can get $5,250 in lender credits to use for down payment and closing costs!

Your client can combine Purchase Plus with gifts and other acceptable sources of funds for down payment and closing costs.

With Purchase Plus, we can help your client overcome financial challenges they might be facing and put homeownership within reach. They can also avoid unpredictable rent increases and build home equity, helping them plan for the future.

Eligibility Requirements

• Client must reside in one of the eligible metro areas mentioned at the time of application. However, the home they buy can be anywhere.
• The home must be a primary residence.
• At least one of the clients occupying the home must be a first-time homebuyer.
• Your client needs a 3% down payment. This can be covered in whole or in part by credit from the program.

Available Metro Areas

• Atlanta-Sandy Springs-Roswell area
• Baltimore-Columbia-Towson area
• Brownsville-Harlingen, TX
• Chicago-Naperville-Elgin area
• Cleveland-Elyria, OH
• Dallas-Fort Worth-Arlington, TX
• Detroit-Warren-Dearborn area
• Houston-The Woodlands-Sugar Land, TX
• McAllen-Edinburg-Mission, TX
• Memphis area
• Miami-Fort Lauderdale-Pompano Beach, FL
• New York-Newark-Jersey City, NY-NJ-PA
• Oklahoma City, OK
• Orlando-Kissimmee-Sanford, FL
• Philadelphia-Camden-Wilmington area
• Phoenix-Mesa-Chandler, AZ
• Riverside-San Bernardino-Ontario, CA
• San Antonio-New Braunfels, TX
• St. Louis, MO-IL
• Tampa-St. Petersburg-Clearwater, FL
• Washington-Arlington-Alexandria, DC-VA-MD-WV

Learn More About Purchase Plus