RK Mortgage Group: What Programs Do They Offer for Their Clients

Key Takeaways:

-RK Mortgage Group is a company that gives its best services to give homebuyers the best deal they want.

-The company provides different loan programs that have attainable requirements.

-Their application process is simple and straightforward which is easy to follow.

Imagine you are a first-time homebuyer who has been researching different mortgage programs. You come across RK Mortgage Group and its variety of programs and decide to reach out for more information.

In this article, we will help you know more about the services that RK Mortgage Group provides. Also, we will you with the steps you should know in applying to them.

RK Mortgage Group About and Why Choose Them

RK Mortgage Group prides itself on ethical practices, integrity, and respect for all. Their loyal customers are the heart of our business- not only do they come back to use the services time and again but they also recommend the company to their friends and family.

Moreover, they offer some of the best rates in town whether you’re a first-time home buyer or looking to refinance your existing mortgage. And no matter how simple or complicated your needs may be, they have the resources necessary to help you achieve your goals.

In order to know more, take look at its features:

• Exceptional Customer Service: A dedicated Loan Specialist will be with you every step of the way, from your initial application to when you finally close on your loan.
• Secured Online Process: You can upload your loan documents and e-sign mortgage forms online.
• Fast Financing: Our primary focus is helping you close on your new home quickly, so you can get the keys and move in as soon as possible.
• Low Rates: Compared to the competition, our rates are extremely low.

RK Mortgage Group Programs Available

A mortgage loan is a loan that you can use to purchase real estates such as a house, condo, or townhouse. The borrower pays back the money over an extended period, usually with interest. And the collateral for the loan is the real estate purchased; if the borrower defaults on the loan for any reason, the lender can take ownership of the real estate.

This type of long-term loan has become an important part of modern life, allowing people to become homeowners without having to pay everything up front in cash. There are many different types of mortgage loans available that you can customize that will fit your needs, making them accessible and affordable for people from all walks of life. Also, loans provide stability, as they typically cover long periods of time while ensuring that your home remains yours.

In addition, because mortgages are legal documents and records are kept when they are made, they also provide much-needed consumer protection in the lending industry. For these reasons and more, mortgages remain essential components of our economy today. It’s clear why mortgage loans have become an integral part of modern society.

If you are applying for a mortgage in RK Mortgage Group, here are the following loans available.

FHA Loan

The FHA loan is perfect for first-time home buyers because it requires the lowest down payment, only 3.5% of the sales price. In addition, those with lower scores than conventional loans are still eligible, usually down to a score of 580.

You may also be able to roll your closing costs into your loan if you so choose. Keep in mind that the home must be classified as the borrower’s primary residence in order to qualify for this type of loan program.

Features:

• 3.5% initial investment
• Rates are low so that you save money
• 580 FICO score
• Quick Financing

Condo Program

Condos are not only convenient and flexible, but they also have unique mortgage requirements in comparison to a typical home. Luckily, RK offers exclusive product options for condos that meet Fannie Mae’s / FHA guidelines. With their experienced team on your side, you’re sure to get the best condo financing available at a lower rate.

Features:

• Competitive Pricing
• Fixed-rate or adjustable-rate mortgage is applicable
• No extra condo questionnaire or budget from the HOA is required
• Pre-qualify easily and quickly
• Quick loans

Self Employed Mortgages

This loan is designed for self-employed borrowers who have documented income from their bank statements. While most self-employed borrowers make a good living, they show a smaller net income on their tax returns. Their team is experienced in these loans and will work to get the borrower the best loan possible to fit their needs.

Program Outline:

• Offer loans of up to $3 million
• Will consider debt-to-income ratios of up to 50%
• Two years of seasoning for foreclosure, short sale, bankruptcy, or deed-in-lieu
• You won’t need to submit tax returns
• Homes occupied by their owners, second homes, and properties bought for investment purposes
• A credit score of 660 only
• Up to 90% Loan-to-Value
• Up to 6% in seller’s concessions for a non-investment purchase, 2% for an investment purchase
• If you’re an owner-occupant or 2nd home buyer, there are no pre-payment penalties
• A minimum of two years’ self-employment is required.
• Considering non-warrantable condos
• 5/1 adjustable-rate mortgage or the 30-year fixed loan.

Features:

• With only 10% for the down payment
• Don’t need to submit tax returns
• Low Rates
• Financing you in a matter of days
• Fast & easy pre-qualification

Jumbo Mortgages

A jumbo loan is a mortgage that surpasses the county or state’s conforming limit. Most areas in the U.S. consider loans above $548,250 to be jumbo loans. Here at RK Mortgage Group, they offer some of the most comprehensive and accommodating jumbo loan programs in the industry today.

Not only do they provide conventional jumbo mortgages, but also solutions beyond what traditional banking offers; a range of specialty products designed specifically for borrowers who don’t fit into traditional guidelines.

Features:

• Reasonable rates that won’t break your bank
• Down payment of 10%
• Fast Financing
• Easy pre-qualification that only takes a few minutes.
• Don’t need to present any tax returns
• Choosing between a fixed-rate mortgage or an adjustable-rate mortgage is available

Non-Prime Mortgages

If you’ve experienced bankruptcy, foreclosure, short sale, or modification in the past, a Non-Prime Mortgage is perfect for you. And if you’re self-employed, be sure to check out their Bank Statement program first.

Program Outline:

• Consider a debt-to-income ratio of up to 50%.
• One day after foreclosure, short sale, bankruptcy, or deed-in-lieu.
• Condos without warranties are applicable
• Offer loans of up to $1 million.
• Active tradelines with housing history are not considered
• Houses that are lived in by the owner, second homes, and properties are held as investments.
• The seller is willing to cover up to 6% of the buyer’s costs (2% for investment properties).
• No pre-payment penalty for those who occupy the home or own a second home.
• A family home, a townhome, or a condo.

Features:

• Out of foreclosure in 1 day
• Fast Loan
• Out of bankruptcy in 1 day
• Great rate for your home loan
• Fast and easy loan pre-qualification

Investment Property Financing

The investment mortgage program is ideal for investors who cannot qualify for typical financing based on their tax returns. The loan is qualified based on the value of the property and/or how much income the property is expected to bring in. Also, they will not ask you to submit irrelevant paperwork on this program.

Program Outline:

• Two years of seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
• You don’t have to worry about your debt-to-income ratio with this loan
• Get the capital you need to invest in your business’ success with loans up to $3 million
• Up to a loan-to-value ratio of 75%
• You don’t need to use any of your personal income to qualify
• Qualification criteria based on property cash flow
• If your credit score is as low as 660, you’re still eligible for this loan
• You can choose to only pay interest on your loan
• If you have a 30-year mortgage, this is the amortization schedule
• One to four-unit dwellings and condominiums
• Only considering investment properties
• The seller could potentially cover up to 2% of the buyer’s closing costs
• You can finance a limitless number of properties

Features:

• Applicable for fixed or ARM
• Quick Funding
• No need to verify your income
• One of the lowest interest rates around
• Fast and easy pre-qualification
• No need for tax returns

No Income Verification Loan

The No Income Verification Mortgage is for investors who don’t fit the formal requirements for financing, as shown by tax returns. The loan instead relies on the value of the property and/or how much money it is expected to generate. If you are self-employed, you should look into their Bank Statement program too.

Program Outline:

• The loan-to-value ratio of up to 75%
• Offer loans to people with credit scores as low as 660.
• You can finance always
• Offer loans of up to $3 million
• You don’t need to use your personal income to qualify
• Qualification based on the amount of money coming in from the property
• Seller concessions up to 2%
• In order to qualify for a foreclosure, short sale, bankruptcy or deed-in-lieu 2 years must pass.
• The interest-only option is applicable
• One to four-unit residences, including condos
• No Debt-To-Income Ratio restrictions
• 30-year loan payoff

Features:

• Low rates are available
• You can quickly and easily pre-qualify for a loan
• Applicable with fixed or ARM
• Don’t need to have any tax returns
• Speedy financing
• No income verification is necessary

RK Mortgage Group Getting a Quote Process

If you’re in the market for a new mortgage, then RK Mortgage Group can help you find the best option. With them, getting a quote is a fast and easy process. They’ll walk you through each step of the way to make sure that you get an accurate assessment of your financial situation and an offer tailored to your unique needs.

1. First, they’ll collect all necessary information about your current income, assets, liabilities, and credit score.
2. Then, they’ll work with dozens of lenders to compare offers and find the best rate that works for you.
3. Finally, once they have a quote that you’re happy with, they can begin processing your application right away – so that everything is ready when it’s time to close.

It’s never been simpler or faster to get a mortgage – so if you’re ready to take the next step towards owning (or refinancing) your home, reach out today!

Final Thoughts on RK Mortgage Group

RK Mortgage Group is an excellent choice for borrowers looking to get the best deal on their loans. They offer competitive rates, and no income verification loans, and can help you with a wide range of loan types, including short sales, foreclosures, bankruptcies, and more. Plus, they make the process quick and easy by providing a step-by-step quote process and fast funding.

If you’re ready to start the mortgage process, get in touch with RK Mortgage Group today!

Frequently Asked Questions about RK Mortgage Group

Q: What kind of loan products do you offer?

A: They offer different products that will fit every person who wants to take a mortgage loan from RK Mortgage Group. Above is the list of mortgage loans that you can choose from them.

Q: Do you need to provide tax returns to get approved?

A: No, you don’t have to provide any tax returns. The loan will be based on the value of your property and how much money it is expected to generate.

Q: What is the minimum credit score to qualify for a loan?

A: RK Mortgage Group offers loans to people with credit scores as low as 660. However, the higher your credit score, the better chance you have of qualifying for a loan with a favorable interest rate.

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