• This is an FHA niche program for borrowers that have very minimal money to put down on their home purchase

    Occupancy:

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Owner Occupied only

    Property Types:

    SFR only

    620 Minimum Credit Score

    Loan Amounts:

    $2,500,000 Maximum

    Maximum financing:

    Whatever $100 down equates to

    Terms Available:

    ARMS - 3 year and 5 year

    Fixed - 10, 15, 20, 25 and 30 Year

    HUD properties OK in the following states:

    203k and 203b not permitted

    Nontraditional credit not accepted

    States:

    Atlanta, Alabama, Florida, Georgia, Kentucky, Illinois, Indiana, Mississippi, North Carolina, South Carolina, Tennessee, Virgin Islands

     

    Reference# - 1115248

  • Alternative Income Documentation: Bank Statements

    1, 6, 12 and 24 Months Business or Pursonal Bank Statement 

    Purchase / Refinance Rate/Term

    • Owner-Occupied
    • Single Family Residence

    Credit Score/LTV/Loan Amount | Matrix

    • 500 - 65% - $1,000,000
    • 550 - 75% - $1,500,000
    • 600 - 80% - $2,000,000
    • 660 - 85% - $3,000,000
    • 680 - 90% - $3,000,000 

    Refinance - Cash-Out

    • 550 - 65% - $1,500,000
    • 600 - 70% - $2,000,000
    • 660 - 75% - $2,500,000
    • 720 - 80% - $3,000,000 

    Purchase / Refinance Rate/Term

    • Non-Owner-Occupied
    • Single Family Residence

    Credit Score/LTV/Loan Amount | Matrix

    • 550 - 65% - $1,000,000
    • 600 - 70% - $1,500,000
    • 600 - 75% - $2,000,000
    • 660 - 80% - $2,500,000
    • 680 - 80% - $3,000,000 

    Purchase / Refinance Rate/Term

    • Owner-Occupied
    • Condo

    Credit Score/LTV/Loan Amount | Matrix

    • 500 - 60% - $1,000,000
    • 550 - 70% - $1,500,000
    • 600 - 75% - $2,000,000
    • 660 - 75% - $3,000,000
    • 680 - 85% - $3,000,000 

    Interest Only Available

    Major Credit Event:

    • Bankruptcy - Settled - 65% LTV
    • Bankruptcy - 1 year- 75% LTV
    • Bankruptcy - 2 years- 85% LTV
    • Bankruptcy - 3 years- 90% LTV

    • Foreclosure - Settled - 65% LTV
    • Foreclosure - 1 year- 75% LTV
    • Foreclosure - 2 years- 85% LTV
    • Foreclosure - 3 years- 90% LTV

    • Short Sale - Settled - 80% LTV
    • Short Sale - 1 year- 85% LTV
    • Short Sale - 2 years- 80% LTV

    • Deed-In-Lieu - Settled - 80% LTV
    • Deed-In-Lieu - 1 year- 85% LTV
    • Deed-In-Lieu - 2 years- 80% LTV

    Documentation:

    • Credit report: <90 Days old at closing
    • Income and assets: <90 Days old at closing

    Liquid Assets Not Required

    Asset Utilization

    • Socks, bonds, mutual funds: 75%
    • Retirement funds amount invested, 65%
    • Gift of equity not allowed

    Interest Only payment feature available to 80% LTV

     

    c1-11t-10l1-117

  • This 6 Month Super Jumbo Bank Statement Non-Qualified Mortgage (Non-QM) Loan program is for all residential property types and occupancy types including investment properties. This lender requires a minimum credit score of 660 and goes to a maximum loan-to-value ratio (LTV) of 80% See details below:

    Alternative Income Documentation: 6 Months Business Bank Account Statements or Personal Bank Account Statements

    Minimum Credit Score - 660

    Eligible Transactions:

    • Purchase
    • Refinance - Rate/Term
    • Refinance - Cash Out

    Eligible Occupancies:

    • Owner-Occupied / Primary Residence
    • Second Homes
    • Investment

    Eligible Property Types:

    • Single Family Residence (SFR)
    • Condominiums (including non-warrantable condos)
    • Planned Urban Development (PUD's)
    • 2 - 4 Unit


    Loan-to-Value / Maximum Loan Amounts:

    Property Types - SFR, Condos and PUD's

    • Owner-Occupied - Purchase and Rate/Term Refinance
      • 80% LTV - $1,000,000
      • 75% LTV - $3,000,00
    • Owner-Occupied - Cash Out Refinance
      • 70% LTV - $1,000,000
      • 65% LTV - $3,000,000
    • Second Home - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Second Home - Cash Out Refinance:
      • 65% LTV - $3,000,000


    Property Types - 2-4 Unit's

    • Owner-Occupied / Second Home - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Owner Occupied / Second Home - Cash Out Refinance
      • 65% LTV - $3,000,000


    Property Types - SFR, 1-4 Units, Condos & PUD's

    • Investment Property - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Investment Property - Cash Out Refinance
      • 65% LTV - $3,000,000

     

    Ref# 548 10-13-1-3 554 22-5-14

  • Non-Prime Jumbo Loan

    If you have a recent bankruptcy, foreclosure or short sale, this could be an option for you. Here are the guidelines for this lender program.

    Maximum loan amount $1,000,000

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Purpose:

    • Purchase to 75% LTV
    • Refinance to 75% LTV
    • Cash Out Refinance to 65% LTV

    Property Type:

    • Single Family Residence
    • Condo - less than 4 stories

    Occupancy:

    • Owner Occupied

    Terms:

    ARM's

    5/1 year and 7/1 year

    Income Documentation:

    • Full Doc only

    Credit

    Credit Scores (mortgage credit scores)

    • 580 minimum

    Credit Criteria

    Tradeline requirements:

    • 2 tradelines 24 months seasoned
    • 1 tradeline seasoned 12 with a minimum of $3,000 high credit limit credit

    Underwriting Notes:

    All installment loans must be current

    Credit card and revolving accounts must be current

    Bankruptcy, foreclosure and short sales need 6 months seasoning. Exceptions can be made with compensating factors)

    States:

    California, Arizona, and Nevada

  •  Bank Statement Loan Program

    This particular loan program is available in the following states:

    Alabama, Arizona, Arkansas, California, Colorado, Deleware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Nevada, New Jersey, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconson, Wyoming.

    Credit Scores Loan Amounts Reserves(Months) 24 Months Business or Personal
    12 Months Business or Personal
    Loan-to-Value (LTV) Loan-to-Value (LTV)
    Purchase Cash-Out Refinance Purchase Cash-Out Refinance
    700 1,500,000 4 90% 85% 85% 85%
    $2,000,000 6 90% 80% 85% 85%
    $2,500,000 6 85% 80% 85% 85%
    $3,00,000 9 85% 70% 85% 85%
    $4,00,000 12 85% 65% 85% 85%
    $4,00,000 12 70% 60% 85% 85%
    660 - 699 $1,500,000 4 85% 85% 85% 85%
    $2,000,000 6 85% 80% 85% 85%
    $2,500,000 6 85% 80% 85% 85%
    $3,500,000 12 75% 65% 75% 85%
    $4,000,000 12 70% 65% 70% 85%
    $4,500,000 12 70% 60% 70% 60%
    640 - 659 $1,500,000 4 85% 85% 85% 85%
    $2,000,000 6 85% 80% 85% 80%
    $3,500,000 6 85% 80% 85% 80%
    620 - 639 $1,500,000 4 85% 75% 85% 85%
    $2,000,000 6 85%  80% 85% 80%
    $2,500,000 6 80% 80% 85% 80%
    600 - 619 $1,500,000 4 85% 85% 85% 85%
    $2,000,000 6 80% 80% 85% 80%
    580 - 599 $1,500,000 4 80% 80% N/A N/A
    $2,000,000 6 80% 75% N/A N/A
    560 - 579 $1,500,000 4 80% 80% N/A N/A
    $2,000,000 6 80% 75%    

     

    Credit:

    • Minimum credit score: 560
    • No mortgage lates allowed previous 24 months
    • Housing credit event (bankruptcy, foreclosure, short sale, loan modification: 36 months
    • Minimum tradelines 2 open and active minimum 12 months

    Cash Out Limit:

    • Maximum LTV - 80%
    • Loan amount > $1,500,000 Maximum LTV - 75%

    Property Types:

    • Single Family Residence
    • Condo (non-warrantable condo maximum loan amount - $2,000,000)
    • 2-4 Units - Maximum LTV - 85%

    Debt-to-Income: (DTI)

    • 55%

    Terms Available

    • ARM's
      • 5/1 LIBOR
      • 7/1 LIBOR
    •  Fixed
      • 15 Year
      • 30 Year
    • Interest Only
      • Interest Only - 120 month term
    • Maximum Loan amount - 4,500,000

    Reference # 541 052218 10-13-1-3 

  • 12 Months Personal Bank Statements - 90% (LTV) Financing

    Purpose:

    • Purchase
    • Refinance
    • Refinance - Cash Out to $4,000,000

    Maximum LTV: 90%

    Loan Amounts:

    • $6,000,000
    • $4,000,000 Maximum Cash Out

    Income Documentation:

    • Bank Statements: Business - 10% - 50% Expense Factor Maximum (90% - 50% deposits)
    • Bank Statements: Personal - 0% Expense Factor maximum (100% deposits)

    Self-Employment: Self Employed. Any type of business entity including 1099 Independent Contractor

    Property Types:

    • Single Family Residence (SFR)
    • Condo
    • 1-2 Unit

    Occupancy:

    • Owner Occupied

    Terms:

    • ARM 5/1 (5 year arm) ARM & 7/1 (7 year arm) ARM
    • 30 Year Fixed
    • Interest Only

    Credit Scores / Loan-to-Value:

    • 660 Minimum Credit Score for 85% LTV
    • 700 Minimum Credit Score for 90% LTV

    Major Credit Event Seasoning Requirement:

    • Bankruptcy - 2 years
    • Foreclosure - 2 years
    • Foreclosure - 2 years

     

    3-9-20 333051418

  • Alt-Doc Mortgage Program

    Alt Doc: Owner-Occupied

    Credit Score Purchase Refi - Rate & Term Refi - Cash Out
    750 90% LTV 90% LTV 85% LTV
    720 80% LTV 80% LTV
    75% LTV
    680 75% LTV 70% LTV
    65% LTV

     

    Alt-Doc: Non-Owner Occupied

    Credit Score Purchase Refi - Rate & Term Refi - Cash Out
    750 80% LTV 80% LTV 75% LTV
    720 75% LTV 75% LTV
    70% LTV
    680 70% LTV 70% LTV
    65% LTV

     

    Alt-Doc: Investment Property / Second Home

    Property Types Purchase Loan Rate & Term Refinance Cash Out Refinance
    SFR Investment Property 80% LTV 80% LTV 75% LTV
    SFR Vacation Home 80% LTV 80% LTV 75% LTV
    Duplex 80% LTV 80% LTV 75% LTV
    4 Unit 75% LTV 75% LTV 70% LTV

     

    80% LTV Financing

    $1,000,000 - Maximum loan amount:

    • 3 Month Reserve Requirement for Each Property Owned

    $2,500,000 - Maximum loan amount:

    • 6 Month Reserve Requirement for Each Property Owned

    Residual Income Requirement: / DTI

    DTI Less Than 35% - $2000 Monthly Residual Income

    DTI Greater Than 35% - $3000 Monthly Residual Income

    Property Types:

    SFR Single Family Residence

    PUD Planned Urban Development

    Condo

    • Non-Warrantable

    DTI

    50% with 680 Credit Score to 80% LTV

    Interest Only payment Available - 680 Credit Score

    Gift Funds

    100% financing available with 20% gift

    Underwriting Notes:

    Super Jumbo Loan Amounts require a second appraisal

    Credit Notes:

    0 30 Day Mortgage Lates - 12 Month History

    Maximum Properties Owned:

    Owner Occupied - No Limit

    Investment Property or Second Home - 10 Maximum unless LTV

    • less than 75%, LTV, No Limit

     

    Reference # 214 554488

  • Asset Depletion Jumbo Loan

    Income Documentation Alternative:

    Asset Depletion

    Self Employed and W-2 Wage Earner Co-Borrower

    660 Mortgage Credit Score - 80% LTV to 2 million

    Questions? 858-222-7534

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    640 Mortgage Credit Score - 75% LTV to 2 million

    Credit Notes:

    2 years seasoning required from bankruptcy discharge date

    2 years seasoning required for short sales and foreclosures

    Purpose:

    • Purchase
    • Refinance
    • Cash Out Refinance - $500,000 Maximum Cash Out

    Property Types:

    • Single Family ResidenceSFR

    Occupancies:

    • Owner Occupied
    • Second / Vacation Home – 80% maximum LTV

    Debt to Income ratio:

    • 43% maximum DTI 

    States:

    Alabama, Arizona, California, Colorado, District of Columbia, Georgia, Florida, Iowa, Indiana, Kentucky, Maryland, Michigan, Minnesota, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Texas, Virginia, Wisconsin

     

    Reference # - 124 527030515 PS

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

  • Asset-Based Loan Program

    Qualifying criteria for this loan program is liquid asset-centric. Retirement Account funds qualify.

    4506-T Not Required

    This loan program is specifically designed for high net worth borrowers. Qualifying calculation based on verified liquid assets as an alternative method to income verification to determine borrowers ATR Ability to Repair.

    Our investors take a common sense approach to underwriting the creditworthiness of a particular borrower in regard to the individual's ability to repay the loan. People and their financial situations can be complex and unique, each with their own qualities and compensating factors. Our objective is to identify a borrower's reasonable ability to repay a loan while mitigating risk for the end investor. Often the answer is overwhelmingly obvious that the applicant is worthy of a loan and thus the interest rate, fees and terms offered are very reasonable. Unconventional income is often better in terms of proper evaluation. This decision is centered upon the verification of the income documents provided by the borrower.

    Verified Assets for income, down payment, closing costs and cash reserves

    Foreign Nationals OK for second homes and Investment property

    Alternative Income Documentation:

    • 12 months bank statements - large or disproportionate deposits must be sourced
    • No Tax Returns, W-2's, paycheck stubs, profit and loss statements
    • Self Employed and W-2 salary employees - OK

    Asset Documentation:

    • 12 months seasoned required - actual bank statements, not computer browser summary print out
    • VOD / Verification of Deposit - OK
    • Liquid assets for down payment and closing costs required

    Acceptable Asset Documentation Sources:

    • Checking and savings account - 100%
    • Stocks and bonds - 75%
    • Mutual funds - 75%
    • 401K and IRA - 75%

    "Business funds" not acceptable

    Loan Amount - Liquid Reserve Requirement Matrix:

    The amount of liquid reserves required is quantified by the number of month's cash reserves as well as the total loan amount

    • 0 - $417,000 - 6 months' reserves / liquid assets
    • $625,000 - 9 months' reserves / liquid assets
    • $1,000,000 - 12 months' reserves / liquid assets
    • $2,000,000 - 18 months' reserves / liquid assets
    • $3,000,000 - 24 months' reserves / liquid assets

    Loan Purpose:

    • Purchase
    • Refinance Rate & Term
    • Refinance and Cash Out

    Property Types:

    SFR / Single Family Residence

    • PUD's
    • 1-2 Units
    • Condos

    Owner Occupied / Primary Residence

    • 680 Credit Score
      • 70% LTV to $750,000
      • 65% LTV to $2,000,000
      • 50% LTV to $3,000,000

    $750,000 Maximum loan amount

    $500,000 maximum cash out

    Second Home

    • 680 Credit Score
      • 65% LTV to $750,000
      • 60% LTV to $2,000,000con
      • 50% LTV to $3,000,000

    $500,000 maximum cash out

    Investment Property:

    • 660 Credit Score
      • 75% LTV to $750,000
      • 65% LTV to $2,000,000
      • 50% LTV to $3,000,000

    $500,000 Maximum Cash Out

    Cash Out requirements- 12 months title seasoning required to use current market value for LTV qualification

    Credit Criteria:

    • 680 Credit Score
      • Foreclosure - 2 years seasoned
      • Bankruptcy - 4 years seasoned
      • Short Sale - 2 years seasoned
      • Mortgage lates - 2 years seasoned
      • Derogatory tradelines (liens, judgments, charge-offs, and collections) - 2 years seasoned

    Tradelines:

    • 5 tradelines - 24 months history
    • 3 tradelines open and active - 24-month history

    Underwriter Notes:

    Loan Amounts greater than $1,000,000 requires 2 appraisals

    Gift money and or equity - no can do

    Permanent and Non-Permanent Resident Aliens - OK

    First Time Homebuyers - OK to 60% LTV with a maximum loan amount of $1,200,000

    Nonexistent housing history for last 2 years considered

    Dodd-Frank Compliant

    States: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, Vermont, Washington, Wisconsin, West Virginia

     

    Reference # 444 010288

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

  • Self Employed Home Loan Program

    This loan program is for home buyers and homeowners that have recently experienced a housing event such as bankruptcy, foreclosure or short sale. Self Employed borrowers can document their income by providing bank statements in lieu of conventional to support income and if there is a wage earner borrower, too, primary or co-borrower, this applicant uses their W-2 and paystub for income documentation because this bank statement loan program does not have a prepayment penalty, borrower can refinance at any time to obtain a lower rate or take cash out.

    Guidelines and Highlights

    Purpose:

    • Purchase, Rate and Term refinance and Cash Out Refinance

    Income Program:

    • Alternative Documentation "Alt-Doc"

    Income Documentation:

    • Unconventional - 12 months Bank Statements for self-employed

    and or

    • Conventional - W-2 and paystub for wage earners

    Employment Types:

    • Self Employed
    • W-2 Salary Wage Earner

    Credit Criteria:

    • Mortgage History - 1 30-Day late for last 12 months
    • Bankruptcy Seasoning: - 1 Day
    • Foreclosure Seasoning - 1 Day
    • Short Sale - 1 Day

    Credit Scores:

    • 580 Minimum

    Loan to Value ratio (LTV)

    • 80%

    Debt to Income Ratio (DTI):

    • 50%

    Maximum Loan Amount:

    • $2,000,000

    Property Types:

    • Single Family Residence (SFR)
    • 1-2 Units
    • 2-4 Units

    Occupancies:

    • Owner Occupied / Primary
    • Investment

    Terms:

    • 30-Year Fixed
    • 15-Year Fixed
    • 7 Year ARM

    No Prepayment Penalty

     

    States: Arizona,California, Colorado, Florida, Georgia, Oregon, Washington

     

    Reference# 535 06131519-16-12-16

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

     

  • Bank Statement Loan for Self Employed Borrowers

    January 2019

    Bank Statement Income Loan

    Self Employed Only - Personal or Business Bank Statements.

    Bank Statement loan means to utilize 12 or 24 months of borrower personal and or business bank statements to show income in lieu of traditional income documents. This income documentation option is for the owner-occupied purchase, refinance and or cash out loan.

    This lender requires 24 months and will utilize gross monthly deposit amounts to represent gross income. Personal bank statements can be used as business bank statements. All pages required (except processed checks) for all months.

    Asset Depletion Income Loan

    For the investment property buyer, including non-owner occupied and Second Home as well asmulti-unit business loans, this lender has an additional income documentation program, the "asset depletion" program. Borrowers with verifiable cash or other liquid assets may use those assets to qualify with a Letter of Explanation defining the source and contemplated depletion of these assets over the course of the loan term to pay obligations.

    This lender will go down to a 500 credit score. Also allows for previous bankruptcies, foreclosures,and short sales.

    Purpose:

    Purchase, Rate & Term and Cash Out Refinance

    700 Credit Score

    Purchase to 90% LTV

    Rate & Term Refinance to 85% LTV

    Cash Out Refinance to 80% LTV

    Previous one year- no mortgage lates allowed

    Bankruptcy, Foreclosure and Short Sale OK

     

     

     

     

     

     

     

     

    650 Credit Score

    Purchase to 85% LTV

    Rate & Term Refinance to 85% LTV

    Cash Out Refinance to 80% LTV

    Bankruptcy, Foreclosure and Short Sale OK

    Previous one year - one 30 day mortgage late allowed

     

     

     

     

     

     

     

     

    600 Credit Score

    Purchase to 80% LTV

    Rate & Term Refinance to 75% LTV

    Cash Out Refinance to 70% LTV

    Bankruptcy, Foreclosure and Short Sale OK

    Previous one year - 30 day mortgage lates allowed. No 60 day lates

     

     

     

     

     

     

     

     

    550 Credit Score

    Purchase to 70% LTV

    Rate & Term Refinance to 70% LTV

    Cash Out Refinance to 65% LTV

    Bankruptcy, Foreclosure and Short Sale OK

    Previous one year - 60 day mortgage lates allowed. No 90 day lates

     

     

     

     

     

     

     

     

    500 Credit Score

    Purchase to 80% LTV

    Rate & Term Refinance to 75% LTV

    Cash Out Refinance to 75% LTV

    Bankruptcy, Foreclosure and Short Sale OK

    Previous one year - 90-day mortgage lates allowed. No 120-day lates

     

     

     

     

     

     

     

    Underwriting Notes:

    Non Owner and Second Home OK

    Maximum Loan Amount $2,000,000

    2-4 Units, Condos, Townhouses, rural and condotels OK

    First Time Homebuyer OK

    Non-Occupant Co-Borrower OK (case by case basis

     

    States: Arizona, California, Colorado, Florida, Georgia, Idaho, North Carolina, Oregon, Texas, Utah, Virginia, Washington State

     

    Reference - 139 526020315

  • Non-Prime Super Jumbo Bank Statement Loan

    Maximum Loan Amount - $3,000,000

    Be advised, the following Credit Scores are Mortgage Credit Scores - Consult a Mortgage Professional to be properly pre-qualified without having your credit checked.bank

    No Liquid reserve requirement

    Short Sale seasoning - 1 day 

    Alternative Documentation for Self Employed:

    Form 4506T Not Required (no tax returns before, during or after Close of Escrow)

    24 consecutive months Personal or Business bank statements

    Purchase Loans:

    • 90% LTV - 700 Middle Credit Score
    • 85% LTV - 650 Middle Credit Score
    • 80% LTV - 600 Middle Credit Score
    • 75% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score

    Rate and Term Refinance Loans:

    • 80% LTV - 700 Middle Credit Score
    • 80% LTV - 650 Middle Credit Score
    • 75% LTV - 600 Middle Credit Score
    • 70% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score

    Cash Out Refinance:

    • 75% LTV - 700 Middle Credit Score
    • 75% LTV - 650 Middle Credit Score
    • 75% LTV - 600 Middle Credit Score
    • 70% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score

    Full Doc for Salary Employee - W-2's and 30 days paycheck subs 

    Or

    Full Doc for Commission Professional - 2 years 1040's and Profit and Loss Statement

    Liquid Assets not required

    Jumbo Maximum Loan Amount - $3,000,000

    90% LTV:

    No mortgage lates

    Bankruptcy and Foreclosure3 years seasoned

    Property Types:

    • Single Family Residence
    • Condo
    • Non-Warrantable Condos
    • Townhouse
    • 2-4 Unit
    • Condotels case specific

    Rural properties OK for A through B- credit grades

    Occupancies:

    • Owner Occupied
    • Non Owner Occupies
    • Second Home

    Debt-to-Income Ratio

    50%

    For this program, Underwriter will utilize 100% of Personal Bank Statement deposits and 50% of Business Bank Statement deposits

    -Let a Mortgage Professional qualify your debt ratio

     

    Reference # 554 3-9-20-1-4-5-12

  • Business Purpose Mortgage Loan Program

    "Business Purpose" Mortgage

    A business purpose loan is a primary residence stated income mortgage program. In all actuality, it's a stated income program disguised as a "business purpose" loan, as opposed to a "consumer mortgage" (a regular mortgage loan). It's done this way so lenders can offer and provide cash-out refinance loans (owner-occupied) to self-employed borrowers.

    What is a Business Purpose Mortgage

    There are specific documentation guidelines for this type of program and must be followed accordingly. One of which is we require a statement from the borrower/applicant describing the intended use of funds (hand-written is best) in great detail. Funds are supposed to be used to improve, start or expand a business.

    A minimum of 51% of cash-out must be used to improve or expand the business and  Borrower must submit a cash-out letter of explanation detailing the use of funds including remodel construction bid contracts, etc. Inventory purchase, The letter of explanation must also include an explanation regarding the anticipated economic gain that will result from loan proceeds.

    Business Mortgage Guidelines

    Cash-Out Refinance. Cash-out must be wired into borrowers' business bank account.

    Loan Amount:

    $6,000,000 Maximum

    LTV: 80% maximum

    Employment Type: Self-Employed

    • C Corporation
    • S Corporation
    • LLC
    • 1099

    Some of our lenders will allow for a business entity change (2 years employment verification). For example, if a borrower changes their company from a corporation to an LLC, they'll allow that. Even from a 1099/independant contractor business to a corporation. We know this from experience.

    Income Documentation: No income documentation (No Doc). Stated Income. No income verification. No asset verification.

    Reserves: Liquid assets not required

    Property Types
    • Single Family Residence
    • 2 Units
    • 2-4 Units

    Middle Credit Score: 660

    Occupancy Types
    • Owner-Occupied / Primary residence
    • Non-Owner Occupied. A rental survey usually is required for investment properties

    All owners/people on the title of the property must apply (be on the application). If this is conducive to the borrowers' preference, the property owner can "quitclaim" themselves off title for the time of application and escrow, then just go back on the title after the loan closes. 

    Business Purpose

    Cash-out can be used for any "business purpose"; improving the economic disposition of the company.

    One common use is to improve the physical location of the business.

    So, this would include stuff like architectural drawings: Architectural, Mechanical/Plumbing/Structural & Electrical design. Mechanical - HVAC plan, Equipment schedule, details, and specifications.

    Construction: Electrical - Lighting plan, power plan, panel schedules and single line diagram, details and specifications, Title-24 compliance documents.

    Plumbing - Sanitary waste and vent piping plan, domestic water and piping plan, details and specifications.

    Architectural - Cover sheet, general information sheet, code analysis sheet/exiting diagram site plan, ADA compliance sheet, floor plans, roof plan, storefront elevation, building sections.

    Collateral

    Appraisal: Complete original appraisal with interior/exterior photos of the subject property and sales comparables.

    Hazard insurance coverage equal to replacement or guaranteed replacement cost. Max deductible 1% of the face value of the dwelling coverage amount, but no more than $3000. 12 months of paid coverage required on purchase loans and 6 months for refinance loans.

    Sitework: Building demolition, Concrete, etc.

    States:

    Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Deleware, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisana, Maryland, Maine, Michigan, Minnesota, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, Nevada, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconson, Wyoming.

     

    Reference #: 5453-9-20-1-4-5-12

  • Hard Money Lending

    Our Hard Money mortgage loan department is a network of 39 individual Equity-Based lenders; Hard Money lenders/ Private Money lenders that will fund any reasonable loan scenario.

    We have equity-based portfolio lenders, direct money lenders, and banks that offer soft money, sub-prime and non-prime loan programs including Small Business Loans and alternative-equity-financing options; our Hard Money division is on pace to do over 160 hard money loans this year.

    Our mission is to help individuals, investors, builders, developers, foreign nationals and all legal entities including foreign legal entities obtain alternative real estate financing options to assist in a diverse real estate marker (usually understood as Hard Money loans). We are a unique Hard Money Loan service for a variety of real estate transactions, including investor purchase loans; refinance cash out option; new construction; second trust deeds; third trust deeds (Hard Money); refinance loans for primary and investment properties; fix and flips; rehab projects; probate properties; rental properties' non-warrantable condos; mixed-use; mobile manufactured homes; rural area properties and unconventional properties such as what are called ultra modern properties that lack traditional 'comparables'. We also have programs for other types of properties including 'log' and 'dome' homes.

    There are many advantages of working with an extraordinary Mortgage Broker as Hard Money Mortgage Broker's can provide special services: a fast and efficient funding experience with easy terms and limited conditions.

    Some additional benefits of working with a Hard Money broker include a wide range of loan programs that come with the lowest pricing the market can offer. If a borrower is in the market for a hard money loan, they might get approved for a Soft Money loan program with a lower rate with a 5-year interest-only feature without a pre-payment penalty, as one example.

    Ongoing relationships in this cutting-edge industry are developed over time and with funded loans. We have lenders that will look at almost any loan scenario and we also have lenders that specialize in various loan scenarios, many that are Hard Money and as well, traditional financing.

    These Hard Money lenders are driven by private investor money, typically referred to as Hard Money or Private Money loans. This borrowing capital comes from special interest segments of the market that are pursuing specific criteria loan scenarios. Loans that meet specified criteria can receive discounted pricing from the lender. For example, if a Hard Money lender has an 11% standard interest rate, that rate will go down for every loan scenario criteria that meets their desired guideline structure. These variables vary from geo-targeted areas of the country, states, regions, and specific zip codes, as well as specific property types, loan purposes, occupancy type, credit criteria, credit scores and employment for soft money lenders (differing from Hard Money investors'), Subprime and Non-prime lenders, as well as other types of specific loan characteristics. Some examples would include: 580+ credit score blanket loans for the northeast region of the country; 1-4 unit purchase loans with loan amounts greater than 5 million; bridge loans that meet specific exit strategy criteria; state-specific rehab loans that feature a progressive Loan-to-Cost (LTC) ratios up to 85% for an investor with greater than 3 closed transactions experience within the last 4 years. Another example would be: "unseasoned cash-out refinance" for newly (unseasoned) purchase for a limited zip code area in Southern California, unconventional income documentation program for owner-occupied Single Family residential properties; these origination lenders will typically have their own pre-determined guideline criteria matrix to ensure that brokers stay within their guideline matrix. These revolutionary loan programs (usually Hard Money) can make it easier for an experienced Broker to quickly facilitate Hard Money loans for consumers. This is ideal because when the loan fits the lender's pre-determined guidelines, the complex loan scenario becomes an easy, consistent and clean loan process which in turn will provide pricing that is the best the market can offer because we, the Mortgage Broker are in effect, filling an order.

    Seasoned Real Estate Investor niche: some Hard Money/Private Lenders like working specifically with seasoned real estate investors. These guideline criteria can be quantified or qualified by the number of years or number of transactions undertaken by the borrower. For example, some lenders want to lend only to real estate investors that have completed more than 3 transactions and some won't touch a real estate investor with less than 3. A further example is that some Hard Money lenders won't lend in an urban area and some won't lend in rural areas. When a lender requires a niche, they also, in turn, will provide discounted pricing, thus benefitting the consumer.

    Two Examples:

    No asset or income verification that comes with 6-30 year terms and requires sub 500 or no credit scores for residential investors. Discounts 620+ credit score. ?

    ARV 85% Loan-to-Cost (LTC) No Pre Payment Penalty options; loans made to LLC with a personal guaranty.

    • All Income Programs
    • Stated Income / Stated Assets
    • Stated Income / Verified Assets
    • Bank Statement Loans
    • Asset Depletion Loans
    • No Doc Loans

    Hard Money Loans

    • Private Money 70% LTV
    • Hard Money 5 Million Owner Occupied
    • Jumbo Hard Money to 3 Million 80% LTV
    • Hard Money Super Jumbo Florida
    • California Hard Money 30 Million

    Latest Loan Programs

    • Investor Loan - No Doc

    • Bank Statement Loan 600 Credit Score

    • Asset Depletion Super Jumbo Mortgage

    • Bank Statement Loan 580 Credit Score

    • Stated Income Verified Assets to 70% LTV Owner Occupied

     

    Reference# - 55452

  • High LTV Hard Money Jumbo Loan

    This hard money residential loan has a very high Loan-to-Value (LTV) ratio of 80%. Most hard money lenders max out at 65%, sometimes 70%. So 80% is huge. It can be used as a Fix and Flip, Blanket loan, Bridge loan, Construction Loan and can also bail a borrower out of any housing event; short sale, foreclosure, bankruptcy, Notice of Default (NOD), Notice of Sale (NOS). Below you'll see some underwriting highlights.

    Questions? 858-222-7534

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Loan purpose:

    • Purchase
    • Refinance
    • Cash out Refinance and Construction

    Blanket, Bridge and Fix and Flip

    Loan limits:

    80% LTV

    Maximum loan amount - $3,000,000

    Term: 12 months

    Property types:

    • Single Family Residence (SFR)
    • 2-4 Unit
    • Condos and Townhomes

    Non-Warrantable Condos

    Manufactured homes

    Mixed Use  

    Unconventional Property Types:

    • Dome homes
    • Modern style
    • Historical
    • Log homes

     Non Owner Occupied only

    1-4 units 

    States available:

    Alabama, Arkansas, Arizona, California, Connecticut, Florida, Georgia, Iowa, Illinois, Kansas, Massachusetts, Maryland, Maine, Michigan, North Carolina, New Jersey, New York, Ohio, Pennsylvania, South Carolina, Texas, Virginia, Washington, Wisconsin

     

    Reference# - 55214

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

  • Non-Prime Investor Program

    Real Estate Investor can own up to 20 financed properties

    More Information 858-222-7534

    Full Name*
    Please type your full name.

    E-mail
    Invalid email address.

    Phone Number*
    Invalid Input

    Comments
    Invalid Input

    Credit Score Requirements 

    • 720 Credit Score - 75% LTV
    • 560 Credit Score - 60% LTV

    Maximum Loan amount - $750,000

    Loan purpose:

    • Purchase
    • Refinance
    • Cash Out Refinance - $300,000 maximum

    Property Types:

    • SFR Single Family Residence
    • 1-2 Units
    • 1-4 Units

    Occupancy:

    • Investment Property / Non Owner Occupied 

    Credit Notes:

    • 2 years seasoning required from bankruptcy discharge date
    • No seasoning required for short sales and foreclosures
    • 50% maximum DTI Debt to Income ratio

     

    Reference # - 125 527030515 I

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

  • One Day Out of a Short Sale or Foreclosure

    This loan is for people that have recently either foreclosed or short sold their property. If you have a recent short sale or foreclosure, this loan option could help you get into a home. No seasoning requirement for these housing events

    Income Documentation Options:

    Full Income documentation required

    Questions? 858-222-7534

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Salary Employee - previous 2 years W-2's and full tax return

    Self Employed - previous 2 years full tax returns and current year profit and loss statement

    50% maximum DTI Debt to Income ratio

    Credit Scores:

    • 580 Credit Score - 80% LTV to 1 Million 
    • 500 Credit Score - 70% LTV to 1 Million

    Maximum Loan Amount

    • $1,000,000

    Loan Purpose:

    • Purchase
    • Refinance
    • Cash Out Refinance - $500,000 maximum

    Property Type:

    • SFR Single Family Residence

    Occupancy:

    • Owner Occupied
    • Second / Vacation Home – 75% maximum LTV

    States:

    Alabama, Arizona, California, Colorado, District of Columbia, Georgia, Florida, Iowa, Indiana, Kentucky, Maryland, Michigan, Minnesota, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Texas, Virginia, Wisconsin

     

    Reference # - 123 527030515 HE

  • Non-Qualified Mortgage (Non-QM) - Jumbo Program

    Income Documentation: Asset Utilization and Cash-Flow (bank statements) Program - Creative Financing

    This loan program is designed for borrowers who fall just outside (Non-Prime) Prime Jumbo

    Income Documentation for self-employed borrowers

    2 Options:

    • Bank Statements - 24 months business bank account or 12 months personal bank account with or without Asset Depletion (asset utilization)

    Low Doc

    • 1 year W-2 and/or 1-year tax return (stand-alone or in conjunction) with YTD Profit & Loss (P&L) - Borrower Prepared and unaudited

    Bank Statements and Low Doc programs are for self-employed borrowers only. Co-borrower W-2 employee OK for Low Doc - 1 year W-2 in lieu of the traditional 2 year requirement

    Max Debt-to-Income ratio: (DTI) 50% based on and/or (stand-alone or in conjunction) liquid assets, cash-flow and real estate portfolio equity

    Loan Purpose percentage of financing

    Purchase - 10% Down Payment

    Refinance - 90% LTV

    Cash Out Refinance - 85% LTV

    Credit

    Minimum Mortgage Credit Score: 660 (middle score)

    4 years seasoning required on Bankruptcy, Foreclosure, n Modification

    Loan Amounts

    $2,500,000 maximum

     

    reference - 1245587

  • This loan program is designed for home-buyers (purchase transaction) and home-owners (refinance transaction) that do not want toprovide (Form 4506-T not required) or are unable to produce (business and/or personal tax returns, W-2's, paycheck stubs, lease agreements, etc..) traditional income documentation; have been on their job/profession/a business owner for less than 2 years; have a major credit event on their credit report (Non-Prime) such as a bankruptcy, foreclosure, short-sale, loan modification, or automobile repossession; have a Full Doc debt to income ratio higher than 43% or would like a more flexible term such as a 40-year amortization payment with or without an "interest-only" payment option or just happen to fall outside the credit (depth or seasoning) guideline requirements of a Qualified (QM) or "prime" jumbo mortgage loan.

    Creative "Ability-to-Repay" (ATR) Financing:

    Asset Utilization and/or Cash-Flow (bank statements) Loan Program 

    Loan Amount: $3,500,000

    Borrower Credit Profile:

    • Cannot provide conventional "Full Doc" income documentation
    • Unseasoned (2 years) employment history
    • Unseasoned credit event (bankruptcy, foreclosure, short-sale, loan modification
    • >43% Debt-to-Income (DTI) ratio

    Loan Purpose percentage of financing:

    • Purchase - 10% Down Payment
    • Rate/Term Refinance - 90% LTV
    • Cash Out Refinance - 85% LTV

    Income Documentation Program - 2 Options:

    "Alt-Doc" (self-employed): Bank Statements and/or Asset Depletion/asset utilization

    • 24 Months Business bank account
    • 12 Months Personal bank account
    • Asset Depletion (asset utilization)

    "Low Doc" (self-employed and W-2): Reduced Doc

    • 1 year W-2 and/or 1-year tax return
    • Self-Employed - "Borrower Prepared" (and unaudited)YTD Profit & Loss (P&L)

    Alt-Doc and Low Doc programs are for the primary and self-employed borrower.

    • Co-borrower W-2 employee OK for Low Doc - 1 year W-2 in lieu of the traditional2-year requirement

    Debt-to-Income ratio: (DTI) 55% based on bank statement cash-flow, liquid asset reserves (stand-alone or in conjunction with bank statements) liquid assets, cash-flow, and real estate portfolio equity

    Credit Notes:

    Mortgage Credit Score:

    • 660 minimum middle score or lower of 2 scores

    Seasoning:

    • Bankruptcy - 3 years from discharge date
    • Foreclosure - 2 years
    • Short-Sale - 2 years
    • Loan Modification - 2 years

     

    Reference # - 1245587

  • Self Employed Mortgage Option

    Income Documentation - One Month Bank Statement Program. The income is stated and is not calculated fromthe one-month bank statement. The bank statement is to merely see if the account ends in a positive balance and with no NSF's. This one-month bank statement program is weighed almost entirely on the credit history of theborrower and again is stated with a 50% Debt-to-Income (DTI) ratio and cash reserves are not required. No 4506-T form means no tax transcripts.

    Verification of Employment Options (VOE):

    • Business License
    • CPA Letter
    • EA (Enrolled Agent) Letter
    • Articles of Incorporation
    • Articles of Business Organization
    • 4506-T not required
    • Tax returns not required

    Non-Prime Mortgage Program - This loan program is considered "Non-Prime" simply because the guidelines allow for seasoned derogatory credit report tradelines (accounts).

    Non-Qualified (Non-QM) Mortgage Program

    Purpose:

    • Purchase
    • Refinance Rate/Term
    • Refinance Cash Out - Unlimited

    Occupancy:

    • Owner-Occupied Only

    Single Family Residence Only

    Loan-to-Value (LTV):

    • 80% Purchase
    • 75% Refinance (Rate&Term)
    • 70% Refinance (Cash-Out)

    Maximum Loan Amount:

    • $5,000,000

    Eligible Property Types:

    • Single Family Residence - Attached (SFR)
    • Single Family Residence - Detached (SFR)
    • Townhome
    • Condo

    Credit:

    Clean mortgage history - 5 years seasoned (24-month history verification)

    • Depth (criteria):
      • One open account with at least 3 years seasoning
      • Two open account's with at least 3 years seasoning
    • Major "Credit Event" Required Seasoning: 
      • Bankruptcy - 5 years
      • Foreclosure - 5years
      • Short Sale - 5 years
      • Deed-In-Lieu - 5 years
    • Consumer Credit
      • Charge-offs, Collections, Tax Liens - 5 years seasoned

    157-3-9-21

  • True Stated Income 2018

    Stated Income / Verified Asset mortgage program for borrowers that own their own business. Business entity types: c corporation, s corporation, LLC, partnerships.

    Self-Employed Home Loan: An alternative to the "bank statement loan" program for the well-qualified self-employed borrower. You could say this is an equity-based loan program in that the max LTV would be 65%. You could also call it a "portfolio loan" or "Non-QM" mortgage.

    On a refinance transaction, the purpose of a program like this is to improve the borrowers existing mortgage; Rate & Term refinance.

    With a substantial down payment purchase or good equity-position refinance, excellent credit with liquid assets in the amount of at least 12 months housing expense reserves. It can be an alternative to a "bank statement loan" program for the well-qualified borrower.

    Alternative income documentation for well-qualified self-employed borrowers

    Self-Employed mortgage loans

    California Only

    Product Term: 7/1. Interest-Only payment available.

    Property Types:

    • Single Family Residence SFR 
    • PUD
    • Condos
    • 2-4 Units

    Loan Amount / Credit Score / LTV Matrix

    SFR

    720 Credit Score

    • $1,000,000 - 65% LTV
    • $1,500,000 - 60% LTV
    • $2,500,000 - 55% LTV Condo

    700 Credit Score

    • $750,000 - 60% LTV

    2-4 Units

    720 Credit Score

    • $1,500,000 - 55% LTV

    Reserves Requirement

    All Stated Income Loans require 12 Months P&I Principle & Interest for each property financed; exceptions are common with compensating factors

    Stated Income / Asset Based (whichever is lower):

    Stated Income on 1003 (reasonable for job position/job title) or

    Verified Assets including down payment + / 6 = Income

    Employment Verification Documentation

    Self Employed

    Proof of ownership - Business License, CTP CPA Letter verifying 2yrs+ ownership, etc.

    Description ‐ Business, Industry, and Borrower's Title on 1003

    W-2 Employee

    VVOE Verbal Verification of Employment / Current Employment (1003 application) must show on credit report

    Non-Owner Occupied Investment OK

    2-4 Unites OK

    Exception down to 700 Credit Score

    Loan Amounts to $2,500,000

    Loan Amount exceptions made to 11,500,000

    Interest Only not available

    No 4506T not required

    Tax returns not required

    Paycheck stubs not required

    2 month Bank Statements

    Liquid assets from the businessis OK if 100% ownership

    DTI Max 45%

    Foreign Nationals OK

    100% Gift funds OK and 60% Foreign National

    Credit Notes

    Previous housing payment history, 1 30-day late Maximum

    3 open accounts on credit at minimum 1 year seasoned

    "Housing event" seasoning

    Bankruptcy - 3 years

    Short Sale - 2 years

    Foreclosure - 5 years

     

    Reference # 123-34c52-100717

  • Portfolio Jumbo ‐ 1 Year P&L (Profit and Loss Statement)

    This kind of loan product is for the Self-Employed borrower that can produce a 1-year P&L along a with a letter from their tax professional verifying 2+ years of self-employment history in lieu of traditional tax returns and also can be an alternative to a "bank statement loan" for the well-qualified borrower.

    Self-Employed Home Loan

    Self-Employed Home Loans

    California Only

    Product Term: 7/1

    Income Documentation

    Low Doc: Income documentation type: 1-year profit and loss statement

    Self Employed

    • YTD and prior year P&L completed by unverified independent third‐party
    • Business License or CPA Letter verifying 2 years 25% ownership
    • 4506-T not required
    • Tax returns not required
    • Paycheck stubs not required
    • 2 month Bank Statements
    • Liquid assets from the business is OK if 100% ownership

    W‐2 (co) borrower: Written Verification of Employment

    680 Credit Score

    • $1,000,000 | 70% LTV

    700 Credit Score

    • $1,500,000 | 65% LTV

    720 Credit Score

    • $2,500,000 - 60% LTV

    680 Credit Score

    • $1,000,000 | 65% LTV

    700 Credit Score

    • $1,500,000 | 60% LTV

    670 Credit Score

    • $1,500,000 | 60% LTV
    • $1,000,000 - 60% LTV
    • $1,500,000 - 55% LTV
    • $2,500,000 - 50% LTV
    • Up to $2,500,000 - 60 LTV%

    LTV <60% Loan amount to $1,000,000 – 6 months Principal and Interest payment

    LTV >60% - 12 months Principal and Interest payment

    Passport, I‐94 & valid VISA (F‐1 and F‐2 type not allowed)

    Passport & either I‐94W or proof of ESTA Approval on VISA Waiver Program

    Borrower must have U.S. address at the time of application

    Foreign down payment, closing costs, and/or reserves must be transferred to U.S. institution

    Automatic Debit payment from U.S. institution

    24-month P&I Principle and Interest Reserves for Subject Property only

    12-month P&I reserves deposited prior to funding

    100% Gift funds OK and 60% Foreign National

    SFR Single Family Residence and PUD

    Condos

    2-4 Units

    Foreign Nationals

    Cash Out

    6 Months Purchase Seasoning required for Cash Out Refinance

    12 Months P&I in US Financial Institution

    Non-Owner Occupied OK

    Reserves Requirement

    Foreign Nationals

    Credit Notes

    Previous housing payment history, 1 30 day late Maximum

    3 open accounts on credit at minimum 1 year seasoned

    "Housing event" seasoning

    BK - 3 years

    Short Sale - 2 years

    Foreclosure - 5 years

     

    545 c277 12041

  • Jumbo Second Mortgage

    80% LTV 2nd mortgage to $350,000 Alt-Doc for Self-Employed Borrowers and Full Doc for everyone.

    710 Credit Score

    85% LTV

    Mortgage History: No 30-day lates for previous 12 months

    Bankruptcy - 3 Years seasoning

    Foreclosure - 3 Years seasoning

    Short Sale - 2 Years seasoning

    660 Credit Score

    80% LTV

    Mortgage History: One 30-day late maximum for previous 12 months

    Bankruptcy - 2 Years seasoning

    Foreclosure - 2 Years seasoning

    Short Sale - 1 Year seasoning 

    610 Credit Score

    70% LTV

    Mortgage History - One 60-day late maximum for previous 12 months

    Bankruptcy - 2 Years seasoning

    Foreclosure - 2 Years seasoning

    Short Sale - No Seasoning 

    550 Credit Score

    65% LTV

    Mortgage History - One 90-day late maximum for previous 12 months

    Bankruptcy - 1 years seasoning

    Foreclosure - 1 years seasoning

    Short Sale - no seasoning

     

    Required Income Documentation:

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Conventional Full Doc - Wage Earner - W-2's and paycheck stubs

    Unconventional Full Doc - Self Employed or commission employees - 1040's and Profit and Loss statement

    Or

    24 months Personal or Business bank statements

    Loan Amounts:

    • $50,000 Minimum
    • $350,000 Maximum

    Credit Score: 550 minimum

    50% Debt to Income (DTI)

    Occupancy:

    • Owner Occupied Only

    Property Types:

    • Single Family Residence (SFR)
    • Condos
    • Townhomes

    Terms:

    ARM and Fixed rates available

    States: Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, North Carolina, Oregon, Texas, Utah, Virginia, and Washington

     

    Reference# - 545221

  • Second Mortgage Bank Statement Mortgage Loan Program

    Stand-Alone Second Mortgage Program

    Required Credit Score - 700

    CLTV (Combined Loan-to-Value) /Loan Amount:

    • 85% CLTV / $250,000
    • 80% CLTV / $350,000
    • 75% CLTV / $500,000

    Property Types

    • Single Family Residence
    • Townhomes
    • Condos
    • PUD's

    Occupancy:

    • Owner-Occupied Only

    Cash Reserves:

    • 3 Months PITI - Principle, Interest, Tax, and Insurance

    Credit Criteria:

    Credit Criteria Credit Accounts/Tradelines:

    This second mortgage bank statement mortgage loan requires the borrower's credit report to show a minimum of 3 open or closed tradelines with a minimum of 12 months of activity history or 2 tradelines with a 24-month history that also requires activity within the previous 12 months, not including Authorized User-Accounts. Alternative tradelines are acceptable such as a 12 months housing payment history. Credit accounts to which the borrower is not required to make payments is not considered an acceptable tradeline such as deferred loans, derogatory items such as collections, charge-offs, including accounts that were discharged in a bankruptcy.

     

    reference# 225-7-18-5-5-14

  • Asset Based Qualification Program

    High Net Worth Borrowers

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    This is both a Stated Income and Asset Depletion loan program and it is designed for the high net worth borrower that is looking to purchase a primary home or Rate & Term refinance or Cash out refinance their primary home. The applicant must demonstrate their ability to save by providing proof of cash reserves that will support their existing and proposed debt, front and back-end debt ratio.

    Guidelines and Highlights

    Purpose:

    • Purchase, Rate & Term Refinance and Cash Out Refinance

    Income Programs:

    • Stated Income and Verified Assets SIVA
    • Asset Depletion
    • Tax Returns - Not Required
    • Form 4506-T - Not Required

    Income Documentation:

    • Bank Statements
    • Retirement Accounts
    • Investment Statements
    • Money Market Accounts

    Employment Type:

    • Self Employed

    Credit Criteria:

    • Mortgage history - no 30-Day lates for previous 25 months
    • Bankruptcy Seasoning: - 24 months
    • Foreclosure Seasoning - 24 months
    • Short Sale - 24 Months

    Credit Scores:

    • 680 Middle score for each borrower

    Loan to Value ratio (LTV)

    • 70% Maximum
    • Combined (piggyback Second Mortgage) Loan to Value ratio (CLTV)
    • 80% Maximum

    Debt to Income Ratio (DTI):

    • 50% maximum

    Maximum Loan amount:

    • $2,000,000

    Property Types:

    • SFR
    • 1-4 Units

    Occupancy:

    • Owner Occupied Only

    Terms:

    • 5 Year ARM
    • 7 Year ARM
    • 10 Year ARM

     

    States:

    Arizona, California, Colorado, District of Columbia, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Maryland, Minnesota, Nevada, Oklahoma, Oregon, Texas, Utah, Washington

     

    Reference# 535 06131519-9-22-1

     

    Mortgage brokers/lenders perform acts for which a real estate license is required.

  • Home Builder Construction Loan Program

    This is a short-term construction loan for home builders for subject properties located in Arizona, California, Colorado, Idaho, Illinois, Michigan, North Carolina, South Carolina, Ohio, Oregon, Texas, Utah, and Washington.

    Stated Income goes to 1 Million

    • 70% LTV (loan-to-value)
    • 85% LTC (loan-to-cost)

    Loan Amounts:

    • Maximum Loan Amount - 1 Million
    • Minimum Loan Amount - 50K

    Available Terms:

    • 4 months
    • 6 months
    • 9 months
    • 12 months

    Shorter-term - lower cost

    Blanket Loan available

    Construction Completion

    Draw Disbursement

    Eligible Property Types:

    • Single FamilyResidence SFR
    • 2 Unit
    • 3 Unit
    • 4 Unit

    Occupancies:

    • Owner Occupied and Non Owner Occupied

    Eligible Borrowers

    • Legal Entities - Yes
    • Foreign Nationals - Yes

    Underwriting Notes:

    Lender qualifies the lowest middle credit score of both borrowers

  • Stated Income Mortgage Program

    February 2019

    Almost all stated income loan programs are for investments properties. This loan is special in that it provides the option for people that cannot or prefer not to verify their income to purchase or refinance their primary home. In addition, what is also unique about this program is it allows for cash-out on a refinance in Arizona, California, Colorado, District of Columbia, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, Texas, Virginia, and Washington.

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Self Employed only

    Loan purpose:

    Purchase, Rate and Term Refinance and Cash Out Refinance 

    Jumbo Loan Amounts

    Cash Out to $1,000,000

    Purchase and Rate & Term Refinance to $2,500,000

    Maximum LTV Financing:

    • Purchase to 75% LTV
    • Rate and Term to 75% LTV
    • Cash Out Refinance to 70%

    Property Types:

    • SFR
    • Condo (65% LTV maximum)

    No Non-warrantable Condos

    Occupancies:

    • Owner Occupied
    • Second Home to 60% LTV - $750,000 on Purchase and Refinance. -No Cash Out

    Credit Score Requirement:

    700 minimum middle score

    Verified Asset Requirements:

    • Loan amounts less than $650,000: $100,000 liquid
    • Loan amounts greater than $650,000: $250,000 liquid
    • Loan amounts between $1,000,000 to $1,500,000: $500,000 liquid
    • Greater than $1,500,000 - $1,000,000 liquid

    Underwriting Notes:

    Borrower cannot have more than 3 financed properties. No limit on number of properties owned

    Non owner occupied borrowers not allowed

    Private mortgage insurance not required

    10 acre maximum on property

    Appraisal notes:

    Full Appraisal required, interior and exterior with photos of both

    Desk review required for all loans greater than $750,000

    Property cannot have been on MLS for less than 90 days

    No purchase seasoning - utilize current market value

    Credit history notes:

    Payment history: No 30 day lates within last 24 months on mortgage or rent

    No 30 day lates on any consumer debt, revolving or installment

    Minimum 2 year active history on a minimum of 2 accounts required

    Unconventional credit not acceptable

    Job and Income document requirements:

    Self Employed:

    2 year job history

    Phone number will be verified via the internet

    Business license or CPA letter

    2 months bank statements or a VOD, Verification of Deposit, personal or business bank statements OK

    Rental Agreements can be qualified as income

    Eligible Borrowers:

    US Citizen

    Permanent and Non-permanent Resident Aliens

    3% contribution OK

    Any liens on the subject property must be a minimum of 6 months seasoned. 12 months on a HELOC with no draws within the last 12 months

     

    Reference# 254 525020215

    All articles on this Website are for informational purposes only. This Website refers all registrants to licensed Mortgage Brokers/Lenders that perform acts for which a real estate license is required.

  • Super Jumbo Bank Statement loan

    Tax Returns Not Required

    Utilize personal or business bank statements in lieu of traditional income documents

    Questions? 858-222-7534

    Name
    Invalid Input

    Email
    Invalid Input

    Phone
    Invalid Input

    Comments
    Invalid Input

    Income Documentation Alternative:

    24 Months Business or Personal Bank Statement Program to $2,000,000

    Employment Types:

    • Self Employed with W-2 Wage Earner Co-Borrower OK

    Loan to Value:

    • 80% LTV to 1 Million 580 Credit Score
    • 70% LTV to 1 Million 500 Credit Score

    Credit notes:

    • 1 year seasoning required from bankruptcy discharge date
    • 2 years seasoning required for short sales and foreclosures

    Loan Purpose:

    • Purchase
    • RefinanceCash Out Refinance - $500,000 maximum

    Property Types:

    • SFR Single Family Residence

    Occupancies:

    • Owner Occupied
    • Second / Vacation Home – 75% maximum LTV

    Debt-to-Income Ratio "DTI"

    • 50% maximum

    States:

    Alabama, Arizona, California, Colorado, District of Columbia, Georgia, Florida, Iowa, Indiana, Kentucky, Maryland, Michigan, Minnesota, North Carolina, Ohio, Oregon, South Carolina, Tennessee, Texas, Virginia, Wisconsin

     

     

    Reference # - 125 527030515 NP

  • Manual Underwrite Super Jumbo Mortgage

    This is a manually underwritten Super Jumbo Non-Conventional home loan program.

    This loan program is similar to Hard Money because of the flexible guidelines but is not hard money. It's been described is an Alt-A loan program because of the pricing. It is also similar to an Asset Depletion loan.

    We have funded this loan program with greater than a 60% DTI Debt-to-Income ratio borrower. Why? she had a lot of equity in her newly acquired rental properties.

    We were able to utilize her rental income from properties as new income, ownership seasoning not required. Conventional lenders require 2 years ownership seasoning before they will qualify as income.

    There are always compensating factors.

    See Jumbo Loan guideline highlights below. Call us to get prequalified

    Employment:

    • No employment history OK

    Maximum loan amount:

    • $2,000,000

    Loan purpose:

    • Purchase
    • Refinance
    • Cash Out Refinance

    Maximum LTV Loan-to-Value:

    • 75%

    Credit score:

    • 620 minimum, exceptions made with compensating factors

    Maximum DTI:

    Debt-to-Income ratio:

    60% or higher, typically derived from liquid assets

    Occupancy:

    • Owner Occupied / primary
    • Owner Occupied multi-unit
    • Non-Owner Occupied / Investment property

    Property Types:

    • Single Family Residence SFR
    • Condo
    • Duplex
    • Triplex
    • 1-4 Unit

    Available terms:

    5 Year ARM

    7 Year ARM

    10 Year ARM

    Interest Only payment option available on all terms

    Underwriter Notes:

    Can utilize rental income to strengthen file, ownership seasoning not required.

    Can use real estate equity to meet liquid reserve requirements.

    Liquid assets documented with just 2 months account statements and will be verified by third-party.

    Foreign Nationals OK:

    Foreign bank accounts for reserves- OK

    Foreign credit score / Fico accepted

    Business Legal Entity:

    OK for purchase transactions, requires corporation ID number

    No defined credit score / FICO score requirements

    Credit Criteria:

    No Seasoning requirements for foreclosure, short sale or bankruptcy

    Close in as little as 9 Days

     

    Reference # 555 10 -5 -5