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Broadview Community Access Affordable Mortgage Program

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The Broadview Community Access Homebuyer Mortgage Program is an Affordable Lending program created with the specific purpose of helping valued community members buy a primary residence.

The Broadview Community Access Homebuyer Mortgage Program is an Affordable Lending program created with the specific purpose of helping valued community members buy a primary residence.


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  • Thanks to programs like this one, a lot of people in communities all over the U.S. are still able to buy homes. I know because I own a mortgage company at Home Mortgage Orlando, 42 E. Anderson Street, Orlando, FL 32801 and the website is at http://www.homemortgageorlando.net.

    The most important thing for mortgage brokers is to make sure that we don't fall in the same trap that we did before when we let people over-extend themselves
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  • 1. Broadview Community Access Affordable Mortgage
    Thank you for attending
    We will begin in a moment
    Class Scheduled to begin at 6:00pm
    Homeownership Educator
    Scott Schang
    Branch Manager
    Broadview Mortgage Corporation
    1-866-667-6724
  • 2. Topics We Will Cover in Class
    • Why we Created the Community Access Affordable Mortgage
    • 3. Who Qualifies for the Community Access Mortgage
    • 4. Community Access Affordable Mortgage Benefits
    • 5. Community Access Affordable Mortgage Guidelines
    • 6. Community Access Affordable Mortgage Restrictions
    • 7. When a Community Access Mortgage is the Best Option
    Follow up and Take Aways
  • 8. Answering all of your Questions
    • You may type questions in at any time during the presentation in the Questions and Answers box on your screen
    • 9. Homeownership experts are standing by to answer your questions during the presentation
    • 10. This is an interactive learning environment. You will get the most value by having your specific questions answered
    • 11. The only dumb question is the one you don’t ask
    Write this number down in case of technical difficulty
    1-866-667-6724
  • 12. Why We Created the Program
    • Broadview Mortgage is a Direct Lender – Expertise in Specialty Lending
    • 13. Community Based Lending Programs we Currently Offer
    • 14. CalSTRS 80/17 for Education Professionals
    • 15. CalPERS for Member of CalPERS
    • 16. CalHFA for First Time Homebuyers
    • 17. Took key benefits from each program to create Community Access
    • 18. Designed Community Access to offer Greater Benefit to More Buyers
    • 19. Designed Community Access as a solution to restrictive or recently eliminated features of the CalPERS and CalSTRS loan programs
  • Why We Created the Program
    • Fill the need to offer Affordable Mortgage Programs to more Buyers
    • 20. The Community Access Mortgage is available to all eligible Buyers regardless of employment or contribution to retirement
    • 21. Restrictions and the Elimination of benefits of CalSTRS and CalPERS programs hurt otherwise eligible buyers
    • 22. CalPERS eliminated interest rate float downs
    • 23. CalPERS requires that you be a member of CalPERS to be eligible
    • 24. CalSTRS reduced qualifying debt to income ratio
    • 25. CalSTRS loan level price adjustments for under 740 FICO can be costly
  • Who Qualifies for a Community Access Mortgage
    • Expanded Access for Education Professionals
    • 26. California Public School Employees
    • 27. California Community College Employees
    • 28. California University Employees
    • 29. California Private & Charter School Employees
    • 30. School District Employees
    • 31. All W2 Employees working in any capacity
    Eligibility: Pay Check Stub and Verification of Employment
  • 32. Who Qualifies for a Community Access Mortgage
    • Expanded Access for Public Employees and First Responders
    • 33. California State Employees
    • 34. Federal Employees working in California
    • 35. Police Department Employees
    • 36. Fire Department Employees
    • 37. Correction-Penal System Employees
    • 38. Coast Guard and National Guard Employees
    Eligibility: Pay Check Stub and Verification of Employment
  • 39. Who Qualifies for a Community Access Mortgage
    • Access for Health Care Professionals
    • 40. Medical Doctors
    • 41. Nurses – Certified Nursing Assistants
    • 42. Hospital Employees
    • 43. Urgent Care / Clinic Employees
    • 44. Public Health Care Professionals
    • 45. Dentists, Chiropractors, Physical Therapists
    Eligibility: Pay Check Stub and Verification of Employment
  • 46. Community Access Affordable Mortgage Features
    • 30 Year Fixed Rate Mortgage
    • 47. Low Down Payment
    • 48. Fixed Costs and Fees
    • 49. WYSIWYG Interest Rates
    • 50. Interest Rate Float Down
    • 51. Low Min Credit Score – No Penalties for Low Credit Score
    • 52. No First Time Homebuyer Requirement
    Fast Approval and Closing Turn Times
  • 53. Community Access Affordable Mortgage Guidelines
    • Low Down Payment – Minimum 3.5% Down Payment
    • 54. Eligible for FHA Mortgage Insurance
    • 55. No Maximum Down Payment Restrictions
    • 56. No Down Payment Restrictions like CalSTRS 80/17
    • 57. Fixed Costs and Fees
    • 58. Maximum Origination Fee is 1% of Loan Amount
    • 59. Maximum Lender Fees are $350 – 800 Section of GFE
  • Community Access Affordable Mortgage Guidelines
    • WYSIWYG Interest Rates
    • 60. What You See Is What You Get – Published Daily
    • 61. Look for community access button on top right of CalPETR site
    See Today’s Interest Rate
  • 62. Community Access Affordable Mortgage Guidelines
    • Interest Rate Float Down
    • 63. If the Interest Rates Drop during Escrow you get Lower Rate
    • 64. No Cost to Reduce Interest Rate
    • 65. No Paperwork Required to Reduce Interest Rate
    • 66. Only One Float Down Allowed per Property
    • 67. If escrow falls out or address changes – New Lock Required
    • 68. Can lock up to the time that Loan Documents are Ordered
  • Community Access Affordable Mortgage Guidelines
    • Lowest Minimum Credit Score Available
    • 69. Minimum 620 Credit Score Required
    • 70. No Penalties or Additional Closing Costs for Low Credit Score
    • 71. CalSTRS 80/17 has increased closing costs below 740 FICO
    • 72. CalSTRS 80/17 - 620 Credit Score adds 3% to closing costs
    • 73. No First Time Homebuyer Requirement
    • 74. May only be used to purchase a Primary Residence
    • 75. Unless using CalHFA CHDAP Down Payment Assistance
  • Community Access Affordable Mortgage Guidelines
    • Fast Approval and Closing Turn Times – Available Daily
    • 76. Loan Pre-Approval in 24 Hours – After all paperwork received
    • 77. Underwriting Turn Times - Currently 48 hours
    • 78. Conditions signed off in 48 hours or less
    • 79. Loan Documents available in 24 hours after final approval
    • 80. 10 to 17 day Loan Contingencies OK
    • 81. 30 Days or Less Escrow OK
    • 82. Mortgage Emergency – Loan Rescue turn times Expedited
    Recent Company Record – Start to Finish 16 Days
  • 83. Community Access Affordable Mortgage Restrictions*
    • Can only be used to purchase Primary Residence
    • 84. Single Family Residence
    • 85. Income Limits – Maximum Loan Amount $417,000
    • 86. Maximum Income Limits
    • 87. $125,000 for Taxpayer filing Single
    • 88. $250,000 for Taxpayer filing Joint
    • 89. Cannot buy down Interest Rate
    *Exceptions are considered on a case by case basis
  • 90. Community Access as Your Best Option
    • If you are CalSTRS Eligible and Credit Score Loan Level Price Adjustments make closing too costly
    • 91. If you are CalSTRS Eligible and wish to put more than 3% Down Payment
    • 92. If you are CalPERS Eligible, and ineligible for CalPERS Down Payment Assistance or want to have the Float Down option
    • 93. If you are not eligible for CalPERS or CalSTRS for any other reason!
  • The First Step to Homeownership – Get Pre-Approved
    • The very first step to beginning the home buying process is to get Pre-Approved
    • 94. Broadview Mortgage is the ONLY lender that offers the Community Access Affordable Mortgage
    • 95. We are more than happy to be your “second opinion” if you are already working with someone
    • 96. We are more than happy to recommend you to a qualified Real Estate Agent that shares our values and passion for education – familiar with our community programs
  • Follow Up and Take Aways
    • Homeownership specialists are on-line to answer all of your questions now – we will stay on-line until all questions are answered
    • 97. You will receive a “Thank you” email with links to the information we’ve talked about here today including
    • 98. Copy of power point presentation
    • 99. Link to Guidelines and Interest Rate Sheet
    • 100. Secure on-line loan application
    Recording of Class to Follow
  • 101. Thank You for Attending – Please Tell a Friend 
    Please tell us how we’re doing
    Follow up email includes a link to “Praise” page
    Your feedback is greatly appreciated
    For more information
    1-877-823-9250
    www.CalPETR.com
    Homeownership Educator
    Scott Schang
    Branch Manager
    Broadview Mortgage Corporation