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John Saunders
Saunders & Associates
Lucid Financial

NMLS# 1018835 | DRE# 01701970
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Loan Programs

95% LTV (No MI)

Here are just some of the features you will see with only 5% down with No monthly Mortgage Insurance:

  • 40-year fixed term and 10/1 ARM with Interest-Only
  • Up to 95% LTV with no MI
  • Interest-Only with 680+ FICO
  • 95% cash out up to $1.5M
  • 7/1 and 10/1 ARM
  • DTI allowed up to 50%
  • Non-occupant co-borrowers
  • 2-years seasoning for short sales and bankruptcy
  • 3-years seasoning for foreclosures
  • As low as 600 FICO
  • $100K to $2.5M
499-620 FICO Score’s Lucid Financial Special Programs

FHA Purchase

  • 500-579 FICO to 90% LTV on purchase loans (10% down)
  • 580-620 FICO to 96.5% LTV on Purchase loans (3.5% down)
  • Typical DTI ratio for 500-560 FICO scores are 38% to 43%
  • Debt to income ratio determined by AUS with FICO of 640 and higher (1-2 unit)

Note: All 500-620 FICO programs are on a case by case basis. For more info about the 500-620 FICO score Lucid Financial special programs, please contact us for free 15-minute consultation.

Bank Statement and other creative Programs

Owner Occupied None-Prime (Consumer Lending)

  • 12 & 24 month bank statement programs (business and personal)
  • 350-700 FICO
  • Loan-to-value up to 95%
  • Debt-to-Income up to 55%
  • $50,000 to $7,000,000 loan amounts
  • VOE (Verification of income) only programs
  • 1099 only programs
  • P&L and CPA letter only programs (No bank statements needed)
  • 100% Gift funds –Ok
  • Gift of Equity—OK
  • ITIN Borrowers –OK
  • Green Card holders –OK
  • No FICO because of bad credit or limited credit –OK
  • Non- Warrantable Condos –OK
  • No Condo questionnaires –OK
  • Foreclosure Bailout –OK
  • 14 day closing available
Bankruptcies Allowed
  • Can be 1 day out of Bankruptcy
  • Minimum FICO is 580
  • LTV is 85% and will require 6 months of reserves (15% down)
  • LTV is 80% and will require 3 months of reserves (20% down)
  • Minimum loan amount is $100,000
  • Max loan amount is $1,000,000
  • DTI (Debt-to-Income) ratio is 50%
  • Loan types available are: 30 year Fixed, 5/1 ARM, 7/1 ARM
DPA-LF Program

Lucid Financial offers a down payment assistance program with one set of guidelines, no matter where you are located in California. This program is offered by a governmental entity and may be used with the FHA loan program.

Program Highlights
This Lucid Financial program contains a wide-array of options that will meet your needs.  The program features include, but are not limited to:

  • One program used for all types of borrowers, with the same qualifications
  • Completely forgivable grant, equals 2% of purchase price
  • May be combined with up to 6% seller concession for closing costs
  • No resale or borrower repayment restrictions
  • Minimum FICO is 640
  • Max DTI is 48.99% (typically higher than most DPA programs)
  • Property Eligibility types: 1-2 Unit Primary Residence, Manufactured Housing-Single Wide, Multi Wide, MH Condo Projects, FHA HRAP Approved Condos & PUDs
  • Programs Allowed: FHA 203(b), FHA Limited 203(k), FHA Standard 203(k)
    Eligible Borrowers ( Only need to have 1 of the option below to qualify)
    This program offers a set of flexible qualification criteria. Do you fits into any of the categories below? You may be eligible for this special Lucid Financial program.
  • Total borrowers’ income is equal or less than 140% of median area income, or; 
  • First-time home buyers, or;
  • Any borrower on the loan application who is a current, retired, volunteer or non-paid:
  • first-responder (police officer, firefighter, public safety officer, paramedic, emergency medical technician (EMT), including volunteers or similar);
  • educator;
  • medical personnel (nurse, doctor, phlebotomists, health ambassador, or hospital, American Red Cross worker, or similar);
  • civil servant in a federal, state or local municipality; or
  • military personnel
Investor Loan Programs
  • 100% Financing available
  • 100% Rehab Financing available
  • Build to Rental income projects
  • Short-Term and Long-Term Loans

Note: Investor Loan programs are on a case by case basis. For more info about the Investor Loan programs, please contact us for free 15-minute consultation.

VA Loan Program
  • We offer 100% financing
  • There is No monthly Mortgage Insurance
  • If there is a VA loan fee, it can be added to the total amount being financed
  • Borrowers can qualify for the VA funding fee exemption rules
  • Spouse can meet occupancy requirements when an active service member is serving on a base in the U.S


John Saunders
Saunders & Associates
Lucid Financial

Beaumont, CA 92223
Phone: 909-289-4109
NMLS# 1018835 | DRE# 01701970


John Saunders is absolutely a go to real estate agent. I am a savvy real estate investor and this guy knows the industry like nobodies business. John's knowledge, commitment, and cooperation is unparalleled to anyone I have spoken to in this area. Highly recommend! Kyle Bergthold
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