We Honor Those Who Served

Nov 11 2015

TMS_Veterans.jpg

At The Money Source, we believe in providing programs and support for our Veterans and their families.

By offering specific programs with highlights that make it easy for our Veterans to realize their dream of homeownership, we can offer our gratitude for their service.

The VA program at TMS follows AUS findings on all loans down to 550 or higher FICO score. Other highlights of the program include:

  • VA cashout to 100% LTV
  • AUS Refer (Manual UW) on VA loans acceptable
  • Manufactured homes
  • VA IRRRL without appraisal to any LTV with min 620 FICO
  • VA IRRRL with an appraisal min 550 FICO
  • VA IRRRL no FICO allowed

Fill out our "Become a Partner" page on our website to become an approved correspondent and offer this program to your clients!

Topics: Correspondent, VA, NY, The Money Source, Melville, VA Loan, The Money Source Correspondent, Veterans, VA Mortgage, TMS VA, The Money Source Inc., TMS correspondent, Products and Services, Mortgages for Veterans, Pink Unicorn

We Honor Those Who Served

Nov 11 2015

TMS_Veterans.jpg

At The Money Source, we believe in providing programs and support for our Veterans and their families.

By offering specific programs with highlights that make it easy for our Veterans to realize their dream of homeownership, we can offer our gratitude for their service.

The VA program at TMS follows AUS findings on all loans down to 550 or higher FICO score. Other highlights of the program include:

  • VA cashout to 100% LTV
  • AUS Refer (Manual UW) on VA loans acceptable
  • Manufactured homes
  • VA IRRRL without appraisal to any LTV with min 620 FICO
  • VA IRRRL with an appraisal min 550 FICO
  • VA IRRRL no FICO allowed

Fill out our "Become a Partner" page on our website to become an approved correspondent and offer this program to your clients!

Topics: Correspondent, VA, NY, The Money Source, Melville, VA Loan, The Money Source Correspondent, Veterans, VA Mortgage, TMS VA, The Money Source Inc., TMS correspondent, Products and Services, Mortgages for Veterans

Did You Know?

Jul 31 2015

tmsDIDYOUKNOW

At The Money Source, we specialize in direct to agency loan securitization. Our goal is for our lending partners to reach a larger number of qualified clients with superior products and tools to enable exponential growth of their businesses.

Here are a few things you may have not known about The Money Source:

  • TMS does not have a retail channel to compete with you. If your client wants to refinance, we refer them back to you.
  • No Overlays! Our Credit Philosophy is to allow GSE guidelines and let you decide what overlays you might need. Empowering your underwriters to make fast and confident decisions, saving your company time and money on the front and back end of your loan process.
  • Our average purchasing turn time is under seven business days for the past 18 months.
  • QM without overlays! Rebuttable Presumption allowed with no overlays to DTI or documentation.
  • VA program niches: Cash-out to 100% LTV, IRRRL unlimited LTV/CLTV, No FICO IRRRL allowed, Manual UW to 50% DTI, High Balance priced as over $417K base loan amount (not the note loan amount).
  • EEM, GNND, DAPs allowed; Section 184 Indian Home Loans offered.
  • Manufactured homes allowed.
  • FHA: 550+; Follow the 4155/4000.1, whichever is applicable
  • 203k Full or Streamline

To become a partner with The Money Source and take advantage of our offerings, visit our Become a Partner page.

Intended for use by real estate and lending professionals only and not for distribution to consumers. This document is not an advertisement as defined in 12 CFR 226.2 (a) (2). All products are subject to credit and property approval. Program terms and conditions are subject to change without notice. Other restrictions and limitations may apply. NMLS # 6289. Subject to change without notice. All rights reserved. Equal Housing Lender.

 

Topics: USDA, Correspondent Loans, Manufactured Homes, FHA, VA, The Money Source, Corresondent Mortgage, The Money Source Inc., 203k rehab, Products and Services

USDA Financing for Newly Manufactured Homes

Jul 30 2015

USDA ManufacturedThe Money Source offers USDA permanent financing on newly constructed manufactured homes!

Our dedicated team works together to provide Rock Solid Service. We are committed to our clients' success with this specialized product.

Highlights of the USDA Manufactured program include:

  • Trade in current manufactured home for credit towards a BRAND NEW home.
  • Roll in all costs including trade in balance and interim payoffs into the new loan up to the full appraised value.
  • Separate land and home contracts allowed to be financed with the same
    purchase transaction.
  • Appraisal can be completed by any FHA roster appraiser and does not have to go through an AMC.
  • Single-wide manufactured homes allowed (minimum 12 feet in width and at least 400 sq. feet living area).
  • Credit scores as low as 580 with max ratios of 29/41%.

For more information on the USDA program, please visit our website.

 

Topics: Correspondent Loans, Manufactured Homes, The Money Source, USDA Loan Program, USDA Financing for Manufactured Homes, Products and Services

The Money Source and Conventional Loans

Jul 08 2015

Convetional
At The Money Source, we're known for being experts on Government programs like VA, USDA and FHA. That doesn't mean our Conventional program isn't also a great program.

For Conventional loans, we follow AUS findings with no overlays - check out some of the Conventional features below!

  • 5-10 financed properties
  • DU Refi Plus with any FICO to LTV/CLTV
  • Minimum 620 FICO - regardless of loan amount
  • No DTI restrictions with AUS approval
  • No minimum number of tradelines
  • Manufactured homes

For more features of the Conventional program, check out Conventional Highlights on our website. Visit our Become a Partner page to get more information on how you can partner with The Money Source.

 

Topics: Conventional loans, Conventional AUS, TMS Conventional Program, TMS loan program, The Money Source Inc. partnership, Conventional loan program, The Money Source Correspondent, Correspondent Conventional Loan, Products and Services, The Money Source Inc. Convetional Program

Supporting Our Veterans Through the VA Program

Jun 26 2015

New_TMS_VA_Social.jpg

At The Money Source, we believe in providing programs and support for our Veterans and their families.

By offering specific programs with highlights that make it easy for our Veterans to realize their dream of homeownership, we can offer our gratitude for their service.

The VA program at TMS follows AUS findings on all loans down to 550 or higher FICO score. Other highlights of the program include:

  • VA cashout to 100% LTV
  • AUS Refer (Manual UW) on VA loans acceptable
  • Manufactured homes
  • VA IRRRL without appraisal to any LTV with min 620 FICO
  • VA IRRRL with an appraisal min 550 FICO
  • VA IRRRL no FICO allowed

Fill out our "Become a Partner" page on our website to become an approved correspondent and offer this program to your clients!

Topics: Correspondent, VA, NY, The Money Source, Melville, VA Loan, The Money Source Correspondent, Veterans, VA Mortgage, TMS VA, The Money Source Inc., TMS correspondent, Products and Services, Mortgages for Veterans, Pink Unicorn

USDA Loans At The Money Source

Jun 24 2015

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Our committement at The Money Source is to form a partnership with our customers. One product we offer through this partnership is the USDA loan program. USDA loans are a part of the Government's Rural Development program.

The USDA home loan program is geared toward rural areas, with certain income eligibility requirements for applicants. At TMS, we follow RHS guidelines with no overlays and offer some niches for the USDA program, which include:

  • 100% financing, no down payment with 550+ FICO
  • Manual Underwriting acceptable
  • Higher DTIs acceptable as long as RHS approved
  • Manufactured Homes allowed on new construction purchases

If you want to find out more about how you can take advantage of our USDA program, fill out our Become a Partner page! You can also visit our website for more information on The Money Source.

The Money Source Inc. is not affiliated with or acting on behalf of or at the direction of the Department of Housing and Urban Development or the Federal Housing Administration, or the Federal government.

 

Topics: USDA Loans, Homeownership, The Money Source, Grow Happiness, USDA Rural Development, USDA Loan Program, The Money Source Inc., TMS correspondent, Products and Services, Pink Unicorn

Promoting Home Ownership Through FHA Loans at TMS

Jun 18 2015

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Here at The Money Source, we take pride in our our Government programs and the FHA program is no exception.

We accept so many different types of mortgages with FHA - from 203k Rehab to Non-Credit Qualifying FHA Streamline refinances to Energy Efficient Mortgage - we have a variety of options. We follow AUS findings on all loans with a 550 or higher FICO.

Our goal at The Money Source is to build a business that focuses on the one thing that humanity strives for in life: Grow Happiness. By providing our customers with great products, like our FHA program, and great service from our Team members, we believe we will achieve our goal of Growing Happiness.

For more information on our FHA program, click here. Also, fill out our Become a Partner page for more information on how you can partner with TMS.

Topics: FHA Mortgage, FHA Program, FHA Loans, The Money Source, Streamline FHA, The Money Source Inc., 203k rehab, Products and Services, Pink Unicorn

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