Jumbo Second Mortgage

80% LTV 2nd mortgage to $350,000

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:

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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

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