Providing "Fast and Easy" Lending solutions
My Mission is to match your unique borrowing needs with the most competitive rates and programs available nationwide. Many credit worthy homeowners have been left sidelined by Income and Employment documentation overkill demanded by Banks and Mortgage Lenders. My expertise and resources will enable you to leverage your good credit and obtain the loan you deserve!
- Jeff Simonich: VP. Private Mortgage Banker
Low Down Payment Jumbo
Maximize your buying power with 5% down to $2M purchase price. Most lenient income qualifying in the industry. Call today to learn how much more house you can buy.
Investment property purchase for non U.S. residents. No credit or income Qualifying , loans to $3M closing 15 days.No income doc loans on rental properties to 75% LTV
Unlock your home equity for retirement planning, extra income, health care costs, extra cash, or helping loved ones. We offer FHA HECM and all leading Jumbo reverse programs.
Buy Before Sell
Current market conditions require creative buyer strategies. Learn how to purchase a new home before selling your current residence.
We specialize in lending to the Self Employed. Our team prides itself in providing simple solutions to complex loan scenarios. Bank Statement for income loans with 10% down, purchase and refinance.
Purchase or Cash-out Refinance
Fast and EZ Qualification
The Community Mortgage is not a hard money loan and has better terms than Private Lenders and Hard Money financing. Our U.S.Dept. of Treasury awarded CDFI Certification allows for Zero income and Zero employment documentation on Owner Occupied and 2nd home loan requests. Other lenders cannot offer this due to burdensome ATR (ability to repay) documentation requirements, required by law. CHM through our proprietary Community Mortgage program is exempt from these requirements!
The Community Mortgage is different than a stated-income (liar) loan because there is zero income or employment verification. Those sections of the application are left blank.
If you would like a Fast and Easyhome purchase or cash-out refinance, then the Community Mortgage may be the right solution for you!
Ample Equity/Limited Income
If your retirement income is not sufficient to obtain the loan you want, then you should consider the Community Mortgage as a possible solution.
If your Mid-FICO score is 640 or higher, you have 35% down for a purchase or 40% or more in Equity for a refinance, and you have money in reserves or IRA post-closing, then you may qualify for the Community Mortgage.
So now all the hard work you put into paying off your home can pay you back.
Divorcing Couple / Divorce Attorney
Settle Your Differences Without Having to Wait for a Court-Ordered Judgment to Qualify
Divorces can be difficult, emotionally draining, and time consuming.
If you are a divorcing couple waiting for court ordered spousal or child support income in order to purchase a home, the wait is now over. With the Community Mortgage, everybody wins, and nobody waits.
If you are a divorce attorney, this solution will give you and your clients leverage in negotiations and earn you referral business from happy clients.
Buy Before Sell
Buy Your New Home Before
Selling Your Old One
Competitive Real Estate markets require creative buyer strategies. With the Community Mortgage, you can buy and move into your new home first, then sell your old home while it is vacant and staged so it sells more quickly and for a higher price. You and your agent will be happy.
According to Forbes' Personal Finance Writer Vanessa McGrady, staged homes sell for 17% higher on average than non-staged homes and 95% of staged homes sell in 11 days or less. That is 87% faster than non-staged homes.
If you would like to buy your new home without having to place a contingent offer (which is often ignored by sellers with other stronger offers to choose from), then the Community Mortgage may be your solution.
Business Owners and Self-Employed
Fast and Easy Qualifying, superior terms
Whether you are a prudent business owner maximizing business deductions to minimize taxable income, newly self employed, a “gig-economy” worker with multiple income streams (Uber, Air BnB, etc), or a commissioned/bonused employee with less than 2 year income history, we can Help! It is very common for Self Employed borrowers to supply vast amounts of financial docs (1040s, 1120’s, Balance sheets, P&Ls, bank statements, CPA letters, etc.) to traditional lenders only to find out that they don’t qualify, sometimes weeks into the application process.
With the Community Mortgage, if you have a 640 FICO score and are able to put sufficient money down or already have good equity in your home, then you could qualify for a cash out refinance, or to purchase the home of your dreams, without all the hassle or false promises.
Private Wealth Clients
Privacy and Flexibility are paramount
Wealthy individuals possess unique lending needs. By reducing the documentation required to obtain financing, The Community Mortgage is the perfect solution for Athletes, Entertainers, and all types of Wealthy Individuals with complex financial situations that are often misunderstood by traditional lenders given they don’t typically “fit in the box”. We lend to revocable trusts, blind trusts, AND LLC’s. By not requiring Tax returns and employment examinations ensures the highest level of discretion throughout the loan process. Loans to $2.5M on owner occupied 1-4 unit properties, including second homes.
Here's What Jeff Says About the
"Commerce Home Mortgage, unlike other lenders, is exempt from the 'Ability to Repay' (ATR) Rule.
What does this mean for borrowers?
It means that if you have a 640 Mid-FICO score, 40% down, and some money in reserves for after closing, then you could qualify for Commerce's Community Mortgage loan,
even if you don't have income or a job.
The Consumer Protection Financial Bureau (CFPB) requires mortgage lenders to adhere to the "Ability to Repay" (ATR) rule, above.
Ordinarily, the ATR rule requires lenders to carefully examine and verify borrowers' financial documents as well as satisfy 8 additional requirements before passing through underwriting, to help ensure borrowers will pay back their loans.
Although the ATR rule is meant to protect borrowers, it is also the reason many borrowers are unable to qualify for loans.
But now, Commerce is legally exempt from the ATR requirements and can employ 'common-sense underwriting' to empower underbanked homeowners, business owners, and communities by providing access to prime capital", because Commerce is the ONLY CDFI-certified lender in the nation that is also a licensed seller/servicer with Fannie Mae, Freddie mac, and Ginnie Mae.
-Jeff, Senior Mortgage Advisor, NMLS # 256864
Jeff, I can't thank you enough for your partnership to make our Carmel home a reality! I appreciated many things about the "transaction": - Your involvement early on to explain the overall mortgage environment and process, - Your advice on various loans, and helping me select which would be best for me, - Giving me your honest viewpoint on where you thoughts rates were headed, - Your team for all their responsiveness to my questions. This is a differentiator for you! - Your tools, which were very easy to use, - Your input on the 1031 exchange, and - Getting all the paperwork/approvals done in an expedited fashion allowing us to sign early. I probably missed some other highlights, but these certainly stand out in my mind. The only piece of feedback I offer for your consideration is that I felt there were a lot of people involved in the process. Please know they were all helpful, timely in responding to my questions, and professional. That said, as a consumer of your services it is easier to deal with one or two people instead of more than 2. Thank you again! Jim
05-31-2018 James M.
After trying to secure a mortgage with over 10 lenders, we had determined that it was a waste of time. The only serious professional and courteous individual was Jeff that was able to get us the desired mortgage, he was knowledgeable on time and always available to answer any questions. We wish that we had met him prior to wasting our time with the previous lenders as there is no other company like Jeffs performance. We will highly recommend our family and friends to use his professional services and not to shop around with any other lenders.
01-31-2019 AYALA S.
Just got my home loan funded! I experienced a very professional and transparent process of my loan. Jeff did better than what was said in the beginning. I will recommend Commerce home mortgage to anyone who is need of a home loan.
02-07-2019 Usha K.
Ask Jeff a
© 2019 Commerce Home Mortgage, LLC, All Rights Reserved. Commerce Home Mortgage, LLC is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150083; NMLS ID #1839. Main address: 3130 Crow Canyon Place, Suite 400, San Ramon, CA 94583. Mortgage programs and CHM are not regulated or endorsed by the U.S. Treasury Department. CHM is a registered trade name of Commerce Home Mortgage, LLC. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Offer of credit is subject to credit approval. Credit and collateral are subject to approval. Terms and conditions apply. For State specific licensing, www.commercehomemortgage.com/compliance/licensing. To verify our state licenses, please visit www.nmlsconsumeraccess.com.
Please note: the Community Mortgage product may have a higher interest rate, more points, or more fees than other products that require documentation.
If you require any more information or have any questions about our site's disclaimer, please feel free to contact us by email at [email protected].