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RICHA MORTGAGE CO.
We offer Residential and Commercial mortgages.
Residential Mortgage
Fixed Rate Mortgages
Wide ranges of fixed rate mortgage programs are available,
including 10, 15, 20 and 30 year programs. We can custom
fit our borrowers to the one that best meets their immediate
and long terms financial goals.
Adjustable Rate Mortgages
Many different adjustable rate mortgages are available,
with varying rates and terms. We can help evaluate the
individual needs of our borrower.
Interest only Mortgages
Borrower wants to pay only interest on mortgage amount.
Loan Application Checklist for Residential
loan.
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Original W-2 (2 years) and last four weeks’
pay stubs.
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Rental history (VOR or cancelled checks).
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Employment addresses (2 year history).
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Contract of sale
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Bank statements for the last two months
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Loans: Lender name, address, account number and
balance (Refinance)
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Real Estate owned: Addresses, value and loan information
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Self-Employed: CPA letter or Two year's tax returns
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Tax returns if you are a 1099 employee.
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Copy of green card.
Lending Process
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At Richa Mortgage Co. you will benefit by working
with an experienced and knowledgeable people.
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You won’t face any hidden surprises on the
closing table
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Our associate has the ability to qualify you in
minutes through our loan approval system. Our associate
is empowered to issue “on the spot”
credit decisions for you, with the least amount
of information required in the industry.
What to bring to your loan closing
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Yourself and your spouse (if married)
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Your checkbook for any incidental costs
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Certified check for closing/settlement cost
Commercial Financing
The Richa Mortgage Company also offers Commercial
Financing. The owner and associates of the company are
dedicated and our services and products are designed
to exceed the expectations of our customers by adding
ease, convenience, and value to the real estate transaction.
Property Types:
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Multi Family Properties / Apartment Buildings
(5 Residential Units and Up)
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Mixed Use Loans (Combination of Commercial and
Residential Units)
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Restaurants with or without Liquor License
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Office Buildings
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Hotel/Motel /Rooming House
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Strip Malls
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Industrial Buildings
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Churches (Minimum Loan Amount $500,000.)
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Warehouses
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Automotive Service Business (Owner Occupied)
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Construction And Renovation Projects
Financing Types:
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3 Year ARM; 5 Year ARM and 10 Year ARM: 15 to
30 Year Term / Amortization*
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5 Year and 10 Year Balloon; 25 Year Amortization*
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10 Year, 15 Year and 20 Year Fixed Rate* *Subject
to borrower / property qualifying SBA LENDING (U.S.
Small Business Administration)
Almost any type of solte proprietorship, partnership
or corporation is eligible for an SBA loan. While some
criteria may vary depending on the type of business,
generally speaking, businesses with the following parameters
are eligible for the SBA Guaranteed Loan program.
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Commercial Real Estate Loans to Owners who occupy
51% or more of the Building.
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Franchise business like Dunkin Donuts, Taco Bell,
Pizza Hut, Subway, Quizno’s etc.
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Retailers And Service Businesses
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Wholesalers
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Manufacturers
You may borrow through the SBA program* for virtually
any purpose related to starting or purchasing a business
or making improvements to an existing one. Loans for
speculation or investment are not eligible.
The following loan types are eligible:
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