Champions Funding
365 East Germann Road, Gilbert, AZ 85297
https://www.champstpo.com/
Internal Reviews
(11 reviews)
Total loans closed with Loan Factory
18,039
Total loans closed with Loan Factory (past 12 months)
14,594
Lender overview
Basic information
Champions Funding LLC ISAOA/ATIMA 365 E Germann Rd, Suite 140 Gilbert, AZ 85297 Loan #
Champions Funding LLC ISAOA/ATIMA 365 E Germann Rd, Suite 140 Gilbert, AZ 85297 Loan #
Lock policies & Fees
Lock Policies
Non Ally Loans: The cost of an extension is 15 basis points for 5-day increments. Max extension days is 10. Max number of extensions is 2.
Should additional days be needed; the loan will be evaluated by secondary marketing for an additional extension or worst case pricing.
If the interest rate has expired; the lock will be subject to worst case pricing until 30 days has elapsed from the time of expiration. Once 30 days has elapsed; the lock will be allowed current day pricing. Should worst case pricing be the original lock; a .25 relock fee will be assessed.
Lender's niche & Overlays
- Vacant property allowed
- 100% gift fund allowed
- IPC allowed upto 6%
- DSCR < 0.75 allowed
- Use mid score of whoever higher
- Large deposit < 10% of loan amount no need to be source
- Now accept 85% LTV (740+ score only)
- Min score 640, 65% LTV , DSCR can < 1
- Min Score 620, 65% LTV, DSCR must > 1
- Asset assist can be used in conjunction with the rent (Can help you change from DSCR 0.2 into 1.25 if you have large amount of asset
- Appraisal transfer now no need transfer letter
- LO license only required in KS , NV, OR, SD.
- 1 year self-employed allowed ( still need 2 year same line business)
- LTV up to 85%
- No bank statement required to support the P&L
Bank Statement program:
- Personal bank statement : 0% default expense, no CPA letter required
- Business bank statement : 25% default expense , no CPA letter required (may not available now, but you can tell AE Chi Do that Logan send you here with the default 25% expense, she will accept and make exception for it)
1.) 'Ally ' - No Ratio O/O ( No Ratio O/O and 2nd Home ( No Employment - No Income = No Ratio No DTI Calculations )
Lowered our Reserve requirements on Purchase and Refi's - Up to max 12 mos. 🤩
** FICOs as low as 660
** Up to 80% LTV Allowed Purchase and R & T
** 100% gift funds allowed for down payment and closing cost
** No VOR required on FTHB Purchases
2. Activator – Alt Doc -Qualify more borrowers without traditional documentation.
3. ITIN Activator – Alt Doc Qualify more borrowers without traditional documentation.
4. Accelerator – Business Purpose DSCR ( .75 ) | No Ratio DSCR - SFR , 2-4 units , Condo , PUD, non warrantable condo's , 5 to 8 units ( w/ min 1.0 DSCR w/ min $400K Loan amount )
5. ITIN Accelerator – Business Purpose DSCR -Investment opportunity for ITIN Borrower's Up to 80% LTV w/ a DSCR- down to .80 = < DSCR
6. Ambassador - Investment opportunity for Foreign National Up to a max 70 % LTV
Lender turn time
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