Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

Super Jumbo Investor Mortgage | DSCR

Unconventional Mortgages and Loans | Real Estate Investor (DSCR) Loan Program

Debt Service Coverage Ratio – 620 Minimum Credit Score

* Maximum LTV 85% Purchase Transactions

* 80% Cash Out Refinance Transactions

* Maximum Loan Amount $15,000,000

* Rental Lease or Appraisal Form 1007

* DSCR – .75% – 1.5%

* No Traditional Income Documentation

* DTI – N/A

* Employment Types: No Job Needed

* Income Documentation Types: N/A

Jumbo DSCR Loan Amounts – Loan-to-Value (LTV) & FICO Scores

Super Loan Amounts: $3,500,000 – $4,000,000

* Purchase: 75% LTV ~ 700 FICO -or- 70% LTV ~ 680 FICO

* Cash Out: 70% LTV ~ 680 FICO -or- 70% LTV ~ 700 FICO

Loan Amounts: $2,500,000 – $3,500,000

* Purchase: 80% LTV ~ 700 FICO -or- 75% LTV ~ 660 FICO

* Cash Out: 70% LTV ~ 720 FICO -or- 65% LTV ~ 700 FICO

Jumbo Loan Amounts: – $300,000 – $2,500,000

* Purchase: 75% LTV ~ 700 FICO -or- 70% LTV ~ 680 FICO

* Cash Out: 75% LTV ~ 720 FICO -or- 70% LTV ~ 700 FICO

Reserves Requirements:

* Purchase 6 Months (PITI/PITIA) to 80% LTV or 3 Months to 75% LTV

* Cash Out – Not Required

Eligible Property Types:

* Single Family Residence (SFR)

* Condos – Warrantable

* No Condotels

Eligible Occupancies:

* Non-Owner/Investment Only

* Second/Vacation Homes – Not Eligible

Available Terms:

* ARM: 3 Year ARM, 5 Year ARM, and 7 Year ARM

* 40-year fixed Fully Am or Interest Only Options are Available with 660 Credit Score

Credit Criteria Requirements

Tradelines Requirements:

One – 36-Month payment history

Two – 24-month Previous History Open and Active

Credit Score Requirements

* 620 Minimum

“Housing Event” Credit Seasoning:

* Bankruptcy – 2 years required

* Foreclosure – 2 years required

* Short Sale – 2 years required

* Deed in Lieu – 2 years required

Underwriter Notes and Highlights:

* Mortgage Lates – 12 Months Seasoning

* First Time Home Buyers – OK

* Gift Funds OK with 5% Minimum Borrower Contribution from Family Immediate Member

* Rent-free housing history OK

* Pre-payment Penalty Options

* Investors: 15 financed Real Estate Owned (REO)

Loan Scenario Form – Credit Check Not Required

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending