Non-QM Alternative Mortgages

Foreign National

  • True Stated Income 2019

     

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

    Loan Scenario Form - Credit Check Not Required

    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 is 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

  • Self-Employed Home Loan Program

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

     

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    This kind of loan product is for the Self-Employed borrower that can produce a 1-year P&L along 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 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 are OK if 100% ownership
    • W2  (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

  • 12 Months and 24 Months Bank Statements Alt Doc Home Loan

     

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    700 Credit Score:

    • $1,500,000 Loan Amount | 4 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $2,000,000 Loan Amount | 6 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $2,500,000 Loan Amount | 6 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $3,000,000 Loan Amount | 9 Months Reserves
      • LTV 85% - Purchase
      • LTV 80% - Cash Out Refinance
    • $4,000,000 Loan Amount | 12 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $4,500,000 Loan Amount | 6 Months Reserves
      • LTV 85% - Purchase
      • LTV 80% - Cash Out Refinance

     

    680 Credit Score:

     

    • $1,500,000 Loan Amount | 4 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $2,000,000 Loan Amount | 6 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $2,500,000 Loan Amount | 6 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $3,000,000 Loan Amount | 9 Months Reserves
      • LTV 85% - Purchase
      • LTV 80% - Cash Out Refinance
    • $4,000,000 Loan Amount | 12 Months Reserves
      • LTV 90% - Purchase
      • LTV 85% - Cash Out Refinance
    • $4,500,000 Loan Amount | 18 Months Reserves
      • LTV 85% - Purchase
      • LTV 80% - Cash Out Refinance

    Maximum Loan Amount: $4,500,000

    Credit Notes:

    • Minimum credit score: 580
    • No mortgage lates allowed previous 24 months
    • Housing Credit Event Seasoning 36 Months (Bankruptcy, Foreclosure, Short Sale, Loan Modification)
    • Minimum tradelines 2 open and active minimum of 12 months

    Cash-Out (Cash in Hand) Limit:

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

    Eligible Property Types:

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

    DTI (Debt-to-Income Ratio):

    • 55%

    Terms Available

    • ARM's
      • 5/1 LIBOR
      • 7/1 LIBOR
    • Fixed Rate
      • 30 Year Fixed
      • 15 Year Fixed
    • Interest Only - 120 Month Term

     This particular loan program is available in the following states:

    Alabama, Arizona, Arkansas, California, Colorado, Delaware, District of Columbia, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Michigan, Minnesota, Nevada, New Jersey, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, Wisconsin, Wyoming. We have dozens of bank statement loans that cover all states.

     

    Reference # 541 052218 10-13-1-3 

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    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

  • Interest-Only Non-QM Jumbo Mortgage Product

     

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    This loan program is a Non-QM Mortgage loan becasuse it features an "interest-only" payment option. With that comes also flexible

    Purpose:

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

    Single Family Residence (SFR) - Owner-Occupied / Primary Residence

    Credit Score / LTV / Loan Amount:

    • 720 - 90% - $1,500,000
    • 680 - 80% - $2,000,000
    • 740 - 90% - $2,000,000
    • 720 - 70% - $2,500,000
    • 720 - 70% - $3,000,000

    Single Family Residence (SFR) - Second Home:

    Credit Score / LTV / Loan Amount:

    • 680 - 80% - $2,000,000
    • 720 - 65% - $3,000,000

    2-4 Unit:

    • 700 - 75% - $2,000,000
    • 720 - 70% - $2,000,000

    Second Home

    • 720 - 75% - $1,000,000 - Maximum Cash-Out - $500,000 (cash in hand)
    • 720 - 65% - $1,500,000 - Maximum Cash-Out - $350,000 (cash in hand)
    • 720 - 50% - $2,000,000 - Maximum Cash-Out - $350,000 (cash in hand)

    Refinance - Cash-Out | Owner-Occupied

    • $500,000 Max Cash-Out (cash in had)
    • Owner-Occupied
    • 700 - 75% - $2,000,000 - Maximum Cash-Out (cash in hand)
    • Listed Properties Require 6 Months Seasoning for Market Value LTV
    • Purchase Properties (<6 months) Require 6 Months Seasoning for Market Value LTV
    • Texas - No

    Liquid Assets / Reserves Requirement - Owner-Occupied

    Single Family Residence (SFR)

    • 6 Months - $1,000,000
    • 9 Months - $2,000,000
    • 12 Months - $3,500,000

    Acceptable Sources

    • Bank Account - Personal
    • Bank Account - Business
    • Stocks, Bonds, Mutual Funds
    • REO Sale /(HUD/Settlement Statement)
    • Personal Property Liquidation
    • Trust Fund Disbursement
    • IRA (Percentage Qualified Based on Age of Borrower)
    • Insurance Policy - Cash Value
    • Business Funds
      • Qualified Cash Value - Percentage of Company Ownership

    Income Documentation

    All Income Documentation Will Be Verified Via Form 4506-T

    • Tax Returns
    • W-2's
    • Paycheck Stubs
    • Rental Income - Signed leases
    • Retirement Income - Award Letter
    • Pension Income - Award Letter

    Debt-to-Income Ratio (DTI)

    • Based on Proposed (subject property) Principle, Interest, Tax and (home-owners) Insurance/PITI (all REO properties owned), Installment Loans, Revolving Accounts (minimum payments), Alimony, Child Support.
    • Co-Signed Debt can be excluded from qualifying DTI with supporting (payment transaction history) documentation from the payer of the Note
    • Debt Consolidation to reduce qualifying DTI - OK 

    Property Types

    • SFR - Attached
    • SFR - Detached
    • 1-4 - Attached
    • 1-4 - Detached

     Credit:

    • Credit Criteria (Ability to Repay is based on over-all file)
      • Credit Scores (mortgage credit scores)
        • 2 Scores Minimum
      • Tradeline Requirements (exceptions available based on all credit criteria)
        • 1 Active Tradelines - 24 Months History
        • 3 Active Tradelines -12 Months History
        • 1 Active Tradeline - Installment 
        • Non-Traditional Traxdeline - No
        • Collections OK to $1,000,000 (Payoff accounts not required)
        • All Liens must be paid off

    Properties Not Allowed

    • > 10 Acres
    • Unwarrantable Condos
    • Condos in Litigation
    • Condotel
    • Co-Ops
    • Hobby Farms
    • Commercial
    • Manufactured
    • Modular
    • Log Homes
    • Mixed Use

    Borrowers:

    • Permanent Resident Aliens
    • Non-Permanent Resident Aliens
      • Valid Visa A Series, E 1-3, G Series 1-5, H Series 1-4, L Series L a-b
      • Valid Social Security Number
      • 2 year Employment History
      • Primary Residence
      • Written Verification of Employment (WVOE)
      • 2 Year Credit History
      • Revocable Trust

    Title

    • Not in Business Name
    • Inherited Properties - No

    First Time Home Buyer - Yes

    Gift Funds OK - 5%

    Seller Contribution OK - 6%

    Subordinate Financing - Institutional finance  OK

     

    123 11-21-18_10-13-1-3

  • Second Mortgage Bank Statement Mortgage Loan Program

     

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    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

  • Purpose: Purchase, Refinance Rate & Term and Cash Out

     

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    Cash Out - 6 Months Purchase Seasoning Required to use Current Market Value for LTV purpose

    Loan Amounts: Jumbo and Super Jumbo Loan Amounts:$6,000,000

    Eligible Employment Types:

    • Self Employed (defined as >25% ownership)
    • Wage Earner - Co-Borrower)

    Verification of Employment: (VOE)

    Self-Employment Documentation: (VOE)

    • Evidence of Ownership 2 years
      • Business Entity 2 Years: Articles of Incorporation
      • Evidence of Ownership: 2 Years: Business License, CPA Letter

    Wage Earner | Lite Doc:

    • One (1) Year Employment Verification
    • Previous Year W2 and YTD Paycheck Stub
    • Verbal Verification of Employment
    • 4506-T Signed and Executed

    Self Employed Income Documentation:

    • 24 Months Business Bank Statements
    • 24 Months Personal Bank Statements
    • 12 Months Business Bank Statements
    • 12 Months Personal Bank Statements
    • 6 Months Personal Bank Statements

    Wage Earner:

    • One Year W2
    • Previous One Year Tax Returns

    Liquid Assets Requirements:

    • 80% LTV - 6 Months PITI
    • 80% LTV - 3 Months PITI

    Separate Sources of Funds Must be Documented and Verified.

    Property Types:

    • SFR - Detached
    • SFR - Attached
    • Warrantable Condominiums
    • PUD's

    Occupancies:

    • Owner Occupied
    • Non Owner Occupied / SFR Investment

    Credit:

    Credit Scores

    • 600 Minimum

    Credit Criteria Notes:

    • Mortgage – 12 Months, 0X30 Days Late. 24 Months, 0X60 Days
    • Back Taxes, Judgments, Charge-Offs, Tax Liens, Title Liens. All Must Be Paid Before the Closing Table

    Credit Seasoning:

    • Bankruptcy
      • Chapter 7: 3 years
      • Chapter 13: 2 years
    • Foreclosure: 3 years

    Separate sources of income must be documented and verified.

    410.09.17o11r45i

  • 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.

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    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

  • Hard Money Super Jumbo

    Residential Hard Money

    Purpose:

    Request Additional Information
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    Purchase, Rate&Term Refinance

    Cash Out Refinance

    Bridge loans

    Blanket loans

    Rehab

    Foreclosure Avoidance OK

    Eligible Occupancies:

    Non-Owner only

    Super Jumbo Loan Amount:

    $3,000,000

    Eligible Property Types:

    Condo

    High Rise Condos

    Non-warrantable Condos

    1-4 Units

    Eligible borrowers:

    Foreign Nationals

    Foreign corporations

    Non-resident alien

    Legal Entities:

    Corporations

    LLC's

    Trusts

    States:

    Florida only

    Underwriting notes:

    Purchase seasoning not required for cash out refinance

     

    Ref #155524012115

  • Stated Income / Verified Assets

    Request Additional Information
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    Minimum Credit Score - 660

    Maximum Financing 70% LTV

    Occupancies:

    Primary / Owner Occupied

    Second / Vacation Home

    Investment property / Non Owner Occupied

    This lender offers 3 alternative income documentation programs:

    Full Doc:

    For Self/Employed and W-2 wage earners

    Bank Statements:

    • For Self/Employed and W-2 Wage Earner Co-Borrowers

    Gross Sales for Investment properties

    • For Self/Employed - Gross Income amount utilized to calculate debt ratios

    Terms Available:

    ARM 30 year amortized

    Property Type:

    SFR

    Condos <4 stories

    Townhomes

    2-4 Units

     

    File will need to document Ability to Repay depending on total loan scenario

     

    Loan Amounts:

    Maximum loan amount - $500,000

    Senior Underwriter approval to $800,000

     

    Fix and Flip - OK

     

    Cross Collateral OK

     

    States;

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

     

    Reference - 124 526020315

  • Bank Statement Loan for Self Employed Borrowers

    July 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 Investor Program

    Real Estate Investor can own up to 20 financed properties

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    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 

  • True No Doc - No Income or Asset Documentation

    Direct lender- Lender makes the final decision and has over $100,000,000 to lend

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    Income Documentation - No Doc

    No Income, No Assets, No Employment

    Foreign National OK

    National Program - all 50 states

    Loan Amounts:

    Loans down to $25,000 and up to $3,000,000 all No Documentation

    Quick Close:

    Closings average 10-15 business days from application to closing

    Credit:

    Credit scores down to 500 or No Score OK

    Loan purpose:

    Purchase and refinance- 30-day seasoning for cash out using new appraised value

    Terms:

    3-year loans for borrowers with longer-term exit strategy as well as traditional bridge funding for Investors

    Closing in natural person name OR business entity

    We have many alternative income documentation loan programs available. Don't pre-qualify yourself, consult a Mortgage Professional. 858-222-7534

     

    Reference# - 5542

  • 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.

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    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

  • This hard money lender will do primary residential loans which are somewhat rare.

    Purpose:

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    • Purchase
    • Refinance, Rate & Term and Cash out
    • Refinance - Cash Out. $750,000 Maximum
    • Construction
    • Bridge Loan
    • Blanket Loan

    Loan Amounts:

    $125,000 to $5,000,000

    Eligible Property Types:

    • Single Family Residence SFR
    • 1-4 Unit residential and commercial
    • Condos
    • Townhomes
    • Non-warrantable condominiums
    • Mixed-use

    Eligible Occupancies:

    • Owner Occupied
    • Non Owner Occupied
    • Non-Occupant c-borrower OK

    Eligible Borrowers:

    • Foreign Nationals
    • Foreign legal entities
    • Probate OK

    Underwriter Notes:

    No seasoning requirements for Foreclosure, Bankruptcy, Short Sale, Notice of Default, Notice of Sale

     

    Reference# - 44154

  • No Income No Asset Verification

    Foreign Nationals - OK

    Unique mortgage loan program designed for the Residential Real Estate Investor.

    Income Documentation: None

    Employment Type: None

    Nationwide Private Mortgage Lender

    This is a Private Money lender that has funded thousands of loans nationwide.

    Private direct lender specializing in Single Family Residences up to 1-4 units. Multiple loans for investors in all 50 states, One of the good things about this lender is they have over 25 years of real estate investing experience; they know how to underwrite a loan because they understand the residential real estate investment market because they themselves have bought and resold nearly 15,000 homes and have originated more than 4200 loans since they were founded in 2002; loans for investors, by investors.

    This is a true No Doc hard/soft money lender with national reach. No Income-No-Assets-No Employment. Closings average 10 to 15 business days from application. Loan amounts down to $125,000 and up to $300,000, all No Doc and greater than $300,000 on a case by case basis.

    Credit Scores and Hard Money

    Credit scores down to 580 or no score ok. Foreign Nationals also qualify. An investor can utilize this loan program for either a purchase or refinance. 30-day seasoning for cash out using new appraised value. This is a direct lender and they make all decisions in-house with over $200,000,000 to lend. They also offer 3-year terms for borrowers with longer-term projects as well as traditional bridge funding. An investor can close in a natural person name or business entity.

    This loan program only requires an application, payment for the appraisal, 2 forms of ID and or corporate documents if applicable, title commitment and homeowners insurance.

    Loan Program Guideline Overview and Highlights:

    No prepayment penalties 

    Loan Purpose

    Flip Only Flip or Rent Flip or Rent Rent Only Rent Only

    Terms

    6 Months 60 Months 36 Months 36 Months 36 Months
    6 Months Interest Only 5 Years Fully Amortized 10 Years Due in 3 Years 15 Years Due in 3 Years 30 Years

    Amortization

    Interest Only 5 Years 10 Years 15 Years 30 Years

    Loan-to-Value (LTV)

    70% of market value - Purchase - 55% of market value - Refinance $90,000 $90,000

    Minimum Property Value

    $40,000 - Purchase - $50,000 $90,000 $90,000

     Property Condition

    C1 - C5 C1 - C4 C1 - C4 C1 - C4 C1 - C4 

     

    Information on "C" property rating:

    http://www.freddiemac.com/singlefamily/sell/docs/uadreqs.pdf

    Loan Purpose

    Purchase

    Cash out refinance - 30 days seasoning required

    Credit Scores

    580 or no score OK

    Pricing is Credit Score driven

    Credit Criteria:

    • Bankruptcy OK
    • Foreclosure OK
    • Short Sale OK
    • Loan Modification OK

    Loan Amounts:

    • Minimum Loan Amount: $125,000
    • Maximum Loan Amount: $300,000

    Greater than $300,000 on a case-by-case basis 

    Maximum LTV

    • 70%

    LTV guidelines are based on the After-Repair-Value (ARV) 

    Property Types:

    • SFR
    • 1-2 Units
    • 1-4 Units 

     

    Reference # 540 061715 21-9-19

  • Soft Money Mortgage Program

    This means that the pricing is less than the traditional Hard Money type loan program. Discounted pricing with qualifying Credit Score / FICO.

    No Doc on Investment / Non-owner occupied

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    Residential or Commercial

    LTV:

    • 70% - maximum

    Loan Purpose:

    • Purchase or Cash-out refinance

    Loan Amounts:

    • Minimum - $100,000
    • Maximum - $10,000,000

    Property Types:

    • Single Family Residence SFR - Attached
    • Single Family Residence SFR - Detached
    • 1-2 Units
    • 1-4 Units
    • 5+ Units

    Occupancy:

    • Owner-Occupied/Primary
    • Non-Owner Occupied

    Credit Scores:

    Owner-Occupied - case-by-case

    Terms available:

    • 1 year ARM
    • 3 Year ARM
    • 5 year ARM
    • Interest Only payment terms available

    Income Documentation:

    • No Doc

    Underwriting notes:

    Must have a valid social security number

    Foreign Nationals allowed:

    Appraisal

    Appraisal paid for up front by borrower upon loan approval

    Appraisal ordered by the lender

    States - nationwide

  • 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