• Spectrum Mortgage Services

    Aaron Campbell

    Aaron Campbell

    President
    NMLS# 134888
    Direct: (317) 849-1900 Ext 106
    Cell: (317) 506-0886
    Fax: (317) 849-2313
    6626 E 75th St #110
    Indianapolis, IN 46250

          I have been in the mortgage business since 1998, and co-founded Spectrum Mortgage Services in 2003.  Being an independent broker allows for extremely competitive pricing and access to loan programs from multiple lenders, which means the best rate and program for you.  Spectrum has access to a number of programs that include VA, FHA, Conventional, Jumbo, and USDA.  Down payment assistance programs are also available.  In some cases, you can get into a home for zero down.
          It is my mission to give personalized service by staying in good communication throughout the loan process, and by ensuring that you have a clear understanding each step of the way.  It is important to me that everything makes good sense to you, and that you are happy with your terms.  Over the years, I have grown my business by treating my clients as friends and family, and by getting word-of-mouth referrals from happy customers.  I look forward to working with you!

    Financing Program Guideline Quick Reference Guide 

    Guideline 

    FHA 

    USDA 

    VA 

    Conventional 

    HomeReady Conventional 

    Within Reach FHA 

    Within Reach Conventional 

    Credit Score 

    500/No Score 

    620/No Score 

    500 

    620 

    620 

    620 

    620 

    Max Loan Amount 

    $322,00 

    N/A 

    $453,100 

    $453,100 

    $453,100 

    $322,000 

    $453,100 

    Down Payment 

    3.5% 

    $0 

    $0 

    3% Min. 

    3% 

    3.5% +1% toward closing costs and pre-paids 

    3.5% +1% toward closing costs and pre-paids 

    Mortgage Insurance 

    1.75% upfront; .85% monthly 

    1.0upfront; ..35% monthly 

    2.15% 1st time use; 3.3% subsequent use (can be lower w/ down payment or zero w/ VA Disability) 

    Varies by credit score *MI buyout option* 

    Varies by credit score *MI buyout option* 

     

    1.75% upfront; .85% monthly 

     

    Varies by credit score *MI buyout option* 

     

    Max Seller Concessions 

    6% 

    6% 

     

    4% (Can be higher) 

    3% 

     

    3% 

     

    6% 

     

    3% 

    Income Limits 

    No 

    By county 

    No 

    No 

    By county 

    By county 

    By county 

    Must be 1st Time Homebuyer 

    No 

    No 

     

    No 

     

    No 

     

    No 

     

    No 

     

    No 

     

    Additional Fee 

    No 

    No 

    No 

    No 

    No 

    1% + $500 Proc 

    No 

    Foreclosure/ Short Sale Eligibility 

    Years (From sherrif's sale date) 

    3 Years 

    Years 

    Yrs. Foreclosure 

    4 Yrs. SS 

    Yrs. Foreclosure 

    4 Yrs. SS 

    3 Years 

    Yrs. Foreclosure 

    4 Yrs. SS 

    Bankruptcy Eligibility 

    Ch7=2 yrs; Ch13=1yr of pymts and trustee approval 

    Ch7=3 yrs; Ch13=1yr of pymts and trustee approval 

    Ch7=2 yrs; Ch13=1yr of pymts and trustee approval 

    Ch7=4 yrs  

    Ch13=2 yrs 

    Ch7=2 yrs; Ch13=1yr of payments and trustee approval 

    Ch7=2 yrs; Ch13=1yr of pymts and trustee approval 

    Ch7=4 yrs  

    Ch13=2 yrs 

     

    Gift Funds 

    Acceptable 

    Acceptable 

    Acceptable 

    Acceptable 

    Acceptable 

    Acceptable 

    Acceptable 

    Collections 

    Follow DU 

    Follow GS 

    Follow DU 

    Follow DU 

    Follow DU 

    Follow DU 

    Follow DU 

    Deferred Student Loans 

    Must include in DTI/1% of balance 

    Must include in DTI/1% of balance 

    Can exclude payment if "deferred" longer than 12 months past closing 

    Must include in DTI 

    Must include in DTI 

    Must include in DTI 

    Must include in DTI 

    *Program Guidelines are subject to change 

    Testimonials

    "Thank you so much for your help & guidance with getting everything money-related ready for our new home! From the beginning we felt very comfortable with you & we trusted you, and you never let us down. We were very happy with the services & will recommend you to anyone!"

    by Jacob & Melissa

    "I'm not sure a thank you is enough for you to understand how much we appreciate all you have done for us. Two years ago when we started our journey we knew it would be hard - but trusted that it would work out. I'm confident that you are the reason that it did! Our family would have a very different outlook right now without you and we will never forget that. From the bottom of our hearts, we appreciate you and your hard work."

    by Rob & Lisa

    "We cannot thank you enough for helping us with our mortgage, and making our move so much easier. We feel so blessed! We couldn't have done it without you! Thank you!"

    by Jason & Sara

    "Thank you so much for all your hard work with the appraisal, mortgage, and title companies. We are so excited to be moved in and begin making this place our home. You and your team have made the process so smooth and we are so thankful for your customer service."

    by Nick & Ally

    "We so appreciate all of your hard work, patience, & detailed explanations for us first time homebuyers. We are so thankful for your awesome team!"

    by Justine & Jordan

    "Words are simply not enough to express our gratitude for all your efforts!! We thank you for your kindness and support as we begin a new chapter in our lives..."

    by Julie & Adam
    ;