Mortgage Lending

PROGRAMS

Southwest Lending Solutions

Southwest Lending Solutions is a community-based lender that can help you overcome today’s home financing challenges. We offer you a supportive alternative to confusing and profit-driven loan programs that can leave you feeling intimidated, overwhelmed and out of the marketplace. You can also be assured that our rates and terms are highly competitive and transparent.

Services

Southwest Lending Solutions has its own secure website, where you can set up an account, apply online, and learn more.

Southwest Lending Solutions is part of the Southwest Solutions’ family of agencies. This affiliation benefits you in many ways. Southwest Solutions is a nationally recognized nonprofit organization deeply rooted in the community through its 40-year history of service. It has established a solid reputation of trust and excellence.

When you apply for a loan through Southwest Lending Solutions, you have access to programs within Southwest Solutions designed to help you secure your loan by enhancing your qualifications and defeating obstacles. In addition, we offer support through our wide network of financial planning and rehabilitative services.

Working with us means that you’re doing business with an organization whose mission is to help families better their lives and help make our communities better places to live. We understand that homeownership is the bedrock of stable and vital neighborhoods, and we are committed to help you achieve your dream of owning a home of your own.

Our customers avoid the confusing and often unproductive search for a mortgage they can trust will meet their needs and concerns. We explain every aspect of the loan process clearly and honestly, and we are always guided by your own best interests.

Products

We offer unique and quality loan products in amounts ranging from $10,000 to $1 million. Our financing is available to new homebuyers or seasoned homeowners. Whether you are self-employed, salaried or an hourly worker, we can find the right loan product for you. We work with borrowers with proven credit and offer rehabilitative assistance for borrowers with tarnished credit.

FHA Insured Mortgage Loan

  • Finances up to 96.5% of the price and closing costs
  • Allows rolling the upfront mortgage insurance premium into the mortgage
  • Covers single-family homes, condominiums and 2-unit, 3-unit and 4-unit properties
  • Permits gifts to be used for the down payment
  • Offers low-interest, 30-year fixed rate mortgages

FHA 203K Loan

  • Provides funds to purchase or refinance homes in need of repair or modernization
  • Includes the repair costs in the loan amount
  • Allows a down payment as low as 3.5% of the acquisition and repair costs of the property
  • Is available to homeowners, nonprofit organizations or government agencies
  • Permits a managed escrow account to fund repairs over time

Low-interest Home Improvement Loan for an Individual

  • Who is a Michigan homeowner (or is in the process of buying) with an annual household income up to $65,000 ($74,750 in certain areas)
  • Whose credit score is between 620 and 660
  • Who resides in the home year-round

Low-interest Home Improvement Loan for a Landlord 

  • Who seeks to repair or modernize a property located in Michigan
  • Who is the current owner or is in the process of buying the property
  • Who is a US Citizen (Limited Liability Companies and Corporations may apply)

RESULTS

Mortgage Origination

Originated eight First mortgages on behalf of lenders in 2014

Began working with four major financial institutions to implement unique lending programs in partnership with the Detroit Land Bank Authority
Formed Collaborative partnership with KNHS to bring our lending products to the west side of the State.
Expanded Product Development by adding Wholesale Lenders.
Cultivated Project Management contracts with Talmer Bank and Flagstar Bank as well as Detroit Landbank Authority.
Completed 85% of the RNEP Program that was initiated with Vanguard and Kresge Foundation and are anticipating closing out the program within the first quarter of 2015.

CONTACT:

Southwest Lending Solutions is located at 1920 25th Street, Detroit MI 48216. To learn more about Southwest Lending Solutions or schedule an appointment, call Todd Burk at  313.297.1368 or email him or call Laltsha Cunningham at 313.297.1312 ext 5312 or email her.

 

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