Super Jumbo Real Estate Investor Loan Program to $5,000,000

This investor program was created for seasoned professional Business Purpose Real Estate Investors for most property types without being required to reveal any sort of conventional income documentation or Verification of Employment documentation and is qualified based on Credit Score/FICO and Cash-Flow of Subject Property.

A key qualification for this type of mortgage is the borrower must own their current primary residence. Exceptions can be made to this guideline if current primary residence is considerably less in size and quality to the subject property. This loan is a great option for Foreign National Borrowers.


Underwriting Guidelines

No Minimum Debt-Service Coverage Ration - Calculations under 1.00 - OK


Credit Scores: 600 Minimum

Purpose/LTV:

  • Purchase: Loan-to-Value - 85% LTV
  • Cash-Out Refinance: Loan-to-Value  - 80% LTV. Liquid Assets Not Required


Maximum Loan Amount:
$5,000,000. >$5,000,000 on a Case-by-Case Basis 


Income Doc Options:

  • Debt-Service Coverage Ratio | DSCR. DSCR calculation is the executed lease amount or "market rent" (Appraisal Form 1007) divided by the total Housing Expense which is Principle, Interest, Tax, Insurance, and if applicable, Association dues PITIA. Use the Interest-Ony payment for this calculation.
  • No Ratio: No documentation of any kind

Verification of Employment (VOE): N/A. No Employment

Employment Types: N/A

Reserves Requirements: Reserves Not Required

Eligible Property Types:

  • Single Family Residence - Attached
  • Single Family Residence - Detached
  • Condominiums
  • Townhomes
  • Multi-Units


Eligible Occupancies:
 Investment Property


Eligible Borrowers:

  • LLC - OK
  • Foreign National - OK


Credit Criteria:

  • "Housing Event" Credit Seasoning: 2 Years
  • Bankruptcy - 2 years required: 2 Years
  • Foreclosure - 2 Years
  • Short Sale - 1 Year
  • Deed in Lieu - 1 Year


Available Terms:

  • ARM: 3,5 and 7 year
  • Fixed:
    • 30 Year Fixed (Interest Only Available)
    • 40-Year Fixed (Interest Only Available)

 

States:

 

Alabama | Arizona | California | Colorado | Connecticut | Delaware | Florida | Georgia | Illinois | Massachusetts | Nevada | New Hampshire | New Jersey | New Mexico | North Carolina | Oregon | Pennsylvania | Tennessee | Virginia | Washington | Wisconsin