#1 KY RHS Lender. #1 MCC Tax Credit Lender. #3 KHC Delegated Lender by Volume. Fannie Mae Direct Lender Seller/Servicer. FHA Approved DE Lender

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1 #1 KY RHS Lender #1 MCC Tax Credit Lender #3 KHC Delegated Lender by Volume 2nd Largest Independent Mortgage Banker in KY Fannie Mae Direct Lender Seller/Servicer FHA Approved DE Lender VA Automatic/LAPP Licensed KY, IN, OH & TN SMC-NMLS 8259

2 Stockton Mortgage At A Glance: 76 Mortgage Banking Employees Licensed Loan Officers Licensed Processors Staff Underwriters General turn times on underwriting of new files is 24 to 48 hours Top RHS Lender in Kentucky for 2010, 2011, 2012, 2013, 2014 and 2015 In house underwriting for the following loan types: FHA VA Conventional KHC RHS MCC Tax Credits

3 Conventional Gift funds allowed 97% LTV DTI up to 50% One year tax returns for self employed borrowers FHLMC only Conventional No MI Max LTV: 95% DTI up to 50% Fixed and ARM available $417,000 loan amount max Conventional 80/15/5 Borrower can put as little as 5% down to avoid MI Fixed and ARM Available $417,000 loan amount max on the first mortgage portion 20 year fixed second with no balloon payment RHS 100% financing DTI up to 45.99% Single family detached, single family attached, new manufactured homes allowed and approved condominiums 580 minimum credit score FHA Max LTV: 96.5% (100% with KHC DAP) DTI up to 56% 90 days seasoning Fixed and ARM available Builder trade allowed Credit scores down to 580 allowed Doublewide, modular homes and approved condominiums Non occupying co-signors are eligible borrowers Down payments can be gifts from relatives Seller can pay up to 6% of the borrowers closing costs and pre paids Maximum loan amount of $271,050 in most Kentucky & Indiana counties Section 8 Voucher

4 KHC 97% Conv.-No MI Purchase price up to 243k 680 credit score No mortgage insurance Can be used in conjunction with MCC credits 3% down payment can come from KHC Down Payment Assistance funds DTI up to 45% Borrower can only own one home Prior homeownership allowed KHC All KHC loans underwritten by SMC underwriters. DAP funds can be used with KHC first mortgage products DTI up to 45% Credit score down to 640 New GNMA product allows second time homeowners to purchase a home in all Kentucky counties with no money down On secondary FHA/VA program the borrower can own more than one property Reduced MI rates MCC Tax Credits Used to lower qualifying debt ratios Great tool for increasing buyer s annual tax refund Eligible in all areas of Kentucky and Indiana Income limits vary by county Previous homeownership allowed in targeted counties Kentucky Tax Credit: 25% of annual borrower paid interest Indiana Tax Credit: Varies between 20% and 35% based on purchase price Please call a Stockton Mortgage Loan Officer for qualifying details Rural Hobby Farm Loan Minimum credit score 680 Property can be income producing One note and mortgage for the entire acreage and home Competitive fixed rate pricing Properties generally range from acres Primary residence / owner occupied only LTVs 80/95 LTV/CLTV Approx 30% of value from home VA 100% purchase financing for eligible veterans 100% cash out refinance available No monthly mortgage insurance No income restrictions All geographic areas are eligible Minimum credit score 580

5 FHA 203k Streamline (Rehab Loan) Max LTV: 96.5% Borrower must qualify for FHA financing Owner occupied loans only Minimum of 5k and maximum of 35k worth of rehab and repairs to be done to the property All repairs must be non structural Fixed and ARM available Work must commence within 30 days of closing, must be completed within six months Borrower needs to select a qualified builder/ remodeler for the project Seller can pay up to 6% of the borrowers closing costs and prepaids List of Acceptable 203k repairs: Roofs, gutters and downspouts HVAC systems Plumbing and electrical Minor kitchen and bath remodels Flooring Interior and exterior painting New windows and doors Weather stripping and insulation Improvements for buyers with disabilities Energy efficient improvements Stabilizing or removing lead based paint Decks, patios, porches Basement completion and waterproofing Septic or well systems Purchase of appliances (kitchen, washer and dryer) Alternate Income Documentation FNMA Homestyle (Rehab Loan) Max LTV: 95% Owner occupied, second homes and investment properties $35,000 maximum with all fees Eligible repairs similar to FHA 203k streamline. 12 months bank statements for qualifying --income self-employed borrowers only DTI up to 50% Max loan 2 million Primary residence, second home and investment Asset depletion option allowed for income Agency Fallout (FNMA/FHLMC) DTI up to 50% Non permanent resident aliens

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8 FIND YOUR HOME WE LL TAKE CARE OF THE REST NMLS# 8259