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Shmuel Shayowitz (NMLS#19871) is President and Chief Lending Officer at Approved Funding, a privately held local mortgage banker and direct lender. Shmuel has over two decades of industry experience, including licenses and certifications as a certified mortgage underwriter, residential review appraiser, licensed real estate agent, and direct FHA specialized underwriter. Shmuel provides a uniquely holistic approach to comprehensive real estate and financial matters that goes well beyond any single transaction. Shmuel is an award-winning financier recognized for maximizing the short-term and long-term objectives of his client. As a contributing writer to many local and regional newspapers and publications, his insights have been featured in the media for many topics, including mortgages, personal finance, appraisals, and real estate trends.

People are different. Circumstances are different. Needs are different. Conditions are different. Yet, most mortgage lenders offer the same loans, the same process, and the same options. As a Non-Depository Licensed Mortgage Banker, we pride ourselves on being different. Approved Funding derives its mortgage products from many sources and avenues unlike banks or savings institutions, which are often limited by the availability of their own deposits and a conservative lending philosophy.

Some of our specialty mortgage programs include:

Self-Employed Borrowers

Stated Income Mortgages

Low Credit Scores

Unique Properties

High Debt-to-Income loans

Construction Programs

Non-Occupant Co-Signers

Low Downpayment/No PMI loans

Extended Rate Locks

Condo Loans (Non-Approved approved)

“Custom” Loan Terms (example: 8yr, 22yr, etc)

Cooperative Loans (Co-ops)

Mixed-Use properties

Portfolio Bank Programs

Blanket Mortgages

Non-Qualifying Borrowers

Commercial Mortgages

Private Mortgage Loans (Hard-Money)

Construction “take-outs”

Niche Programs

Business Loans

With hundreds of programs to offer our customers we work hard to ensure that the final mortgage program matches the unique characteristics of each of our mortgage applicants. We continually work with our national and local financiers to develop loan programs that suit the changing needs of our customers and the real estate market. Here are a few of our common loan programs that should suit almost every scenario in the marketplace:

Fixed Rate Mortgages

The interest rate is fixed for the life of the loan

The principal and interest payment never changes

The shorter the loan term the faster equity is built up in the property

Prepaying loan principal will shorten the loan term

No Closing-Cost Refinance Program

Avoid having to pay mortgage costs

Quicker loan process and approval

Fixed or Adjustable Rate Terms available

FHA Mortgage Loans

Lower down payment requirements

Easier qualifications for certain parameters

Fixed or Adjustable Rate Terms available

Adjustable Rate Mortgages

Initial Rate Fixed for Up to 10 years, or as low as 1 year

Lower rate than Fixed Rate Program allows higher price and loan qualification

Future rate changes limited by fixed and predetermined interest rate caps

Fannie Mae and Freddie Mac Loans

Conventional loans backed by Fannie Mae, Freddie Mac and FHFA

Fannie Mae specialty programs available like HARP and Open Access

Jumbo Mortgage Program

Choice of either a Fixed or Adjustable Rate Mortgage Loan

Loans up to $10,000,000 at very competitive terms

Mini-Jumbo Mortgage Program

Avoid paying “jumbo rates” with our mini-jumbo program

Avoid paying “jumbo rates” with our extended conforming program

First Time Homebuyer Program

Discounted Closing Costs

As little as a 3.5-5% Down Payment requirements

Home Equity Lines of Credit & Second Mortgage Loans

Available for loans up to $500,000

Fixed Rate Conversions options

We are accredited underwriters for agencies such as Fannie Mae, Freddie Mac, Ginnie Mae and many other institutional conduits which insures that the most competitive and diverse lending products are available to our clients. Knowing that every borrower is unique, and that every situation is specific, we can entertain options that can cater to almost any “qualified” applicant. Simply put, if there is a way to get you a mortgage, Approved Funding can make it happen.

To learn more about Shmuel Shayowitz, click here or complete this form to be connected with Shmuel:

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