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95% LTV Jumbo Unlimited Cash-Out to $2,500,000

Unconventional Mortgages and Loans

High 95% LTV Cash Out Financing

5% Down Payment for your Jumbo purchase or 95% LTV Jumbo financing for Rate / Term refinance. Cash Out is also available on this program & may be used for any purpose including reserve requirements. 95% LTV cash out by exception only. Interest Only feature available – 620 middle “mortgage credit score”. Non-occupant borrowers – OK (income, reserves, and credit profile)

Bank Statement Loan Details

One-year alternative income documentation programs are considered Lite Doc. Lite Doc – 1-Year (55% DTI) “Lite Doc” only pertains to employment history documentation /verification., Sole Prop, C Corp, S Corp, LLC. < 2 Years and Reduced Doc

* Alt Doc Income Documentation Options: Lite Doc | Reduced Doc | Alt Doc | Business Purpose

Alt Doc – 24 Months Alternative Income Documentation

Income documentation can be 1099 Only, bank statements and/or different asset depletion product enhancements. 2 year alternative income documentation programs are considered Alt Doc

Lite Doc – 12 Month Income Documentation

Lite Doc programs require only 1 year, Alt or Full Doc program with traditional income documentation. There are a few worthwhile reasons to do this. The difference being 1 year less documentation verification to deal with.

Reduced Doc (Employment History) – 12 Months

Reduced Doc programs require only 1 year employment history

Reserve Requirement Notes: Business funds OK. However, the borrower must be 100% owner or will be required to obtain a CPA Letter stating the cash withdrawal would not have an adverse impact on the business. Foreign Funds acceptable, too with 30 days seasoning in an American bank.

Cash-Out Refinance: 90% LTV unlimited cash-out with 760 credit score on Owner-Occupied Only to $1,500,000 – No Mortgage Insurance.

Available Terms: 40-Year fixed, 40-Year fixed Interest Only (40-year am, 10 year i/o), 30-Year fixed (30-year am, 10 year i/o), 30-Year fixed Interest Only, 10/1 ARM, 10/1 ARM Interest Only

– Loan Program Matrix –

Purchase & Rate/Term Refinance:

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72095% LTV$2,500,0006 Months PITIASFR, Condos and PUD’s
72090% LTV$3,500,0009 Months PITIASFR, Condos and PUD’s
72085% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s
72080% LTV$5,000,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance – 720 Credit Score:

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72095% LTV$1,500,0006 Months PITIASFR, Condos
72090% LTV$2,000,0009 Months PITIASFR, Condos
72085% LTV$3,500,00012 Months PITIASFR, Condos
72080% LTV$4,000,00012 Months PITIASFR, Condos

Purchase – 700 Credit Score

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70080% LTV$2,500,0006 Months PITIASFR, Condos and PUD’s
70080% LTV$3,500,0009 Months PITIASFR, Condos and PUD’s
70075% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s
70070% LTV$5,000,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70075% LTV$,00,0006 Months PITIASFR, Condos
70070% LTV$,00,0009 Months PITIASFR, Condos
70065% LTV$,00,00012 Months PITIASFR, Condos
70060% LTV$,00,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68080% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
68075% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
68070% LTV$3,000,00012 Months PITIASFR, Condos and PUD’s
68065% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68075% LTV$2,000,0006 Months PITIASFR, Condos
68070% LTV$2,500,0009 Months PITIASFR, Condos
68065% LTV$3,000,00012 Months PITIASFR, Condos
68060% LTV$4,000,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
66075% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
66070% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
66065% LTV$3,000,00012 Months PITIASFR, Condos and PUD’s
66060% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s

* Alt Doc – Bank Statements – 24 Months

Purchase and Rate/Term Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72080% LTV$2,500,0006 Months PITIASFR, Condos and PUD’s
72075% LTV$3,000,0009 Months PITIASFR, Condos and PUD’s
72070% LTV$3,500,00012 Months PITIASFR, Condos and PUD’s
72070% LTV$4,500,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72075% LTV$2,000,0006 Months PITIASFR, Condos
72070% LTV$2,500,0009 Months PITIASFR, Condos
72070% LTV$3,500,00012 Months PITIASFR, Condos
72060% LTV$4,000,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70075% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
70070% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
70070% LTV$3,500,00012 Months PITIASFR, Condos and PUD’s
70060% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70075% LTV$2,500,0009 Months PITIASFR, Condos
70070% LTV$3,000,00012 Months PITIASFR, Condos
70070% LTV$3,500,00018 Months PITIASFR, Condos
70070% LTV$4,500,00018 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68075% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
68070% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
68070% LTV$3,000,00012 Months PITIASFR, Condos and PUD’s
68070% LTV$4,000,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68075% LTV$2,000,0006 Months PITIASFR, Condos
68070% LTV$2,500,0009 Months PITIASFR, Condos
68070% LTV$2,000,00012 Months PITIASFR, Condos
68065% LTV$3,000,00018 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
66070% LTV$1,500,0009 Months PITIASFR, Condos and PUD’s
66070% LTV$2,000,00012 Months PITIASFR, Condos and PUD’s
66070% LTV$1,500,00018 Months PITIASFR, Condos and PUD’s
66065% LTV$2,000,00018 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
66070% LTV$1,500,0006 Months PITIASFR, Condos
66070% LTV$2,000,0009 Months PITIASFR, Condos
66070% LTV$1,500,00012 Months PITIASFR, Condos
66065% LTV$2,000,00012 Months PITIASFR, Condos

* Lite Doc – Bank Statements – 12 Months *

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72080% LTV$2,500,0006 Months PITIASFR, Condos and PUD’s
72075% LTV$3,000,0009 Months PITIASFR, Condos and PUD’s
72070% LTV$3,500,00012 Months PITIASFR, Condos and PUD’s
72070% LTV$4,500,00018 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
72075% LTV$2,500,0006 Months PITIASFR, Condos
72070% LTV$3,000,0006 Months PITIASFR, Condos
72070% LTV$3,500,00012 Months PITIASFR, Condos
72065% LTV$4,500,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70080% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
70075% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
70070% LTV$3,000,00012 Months PITIASFR, Condos and PUD’s
70065% LTV$3,500,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
70075% LTV$2,000,0006 Months PITIASFR, Condos
70075% LTV$2,500,0009 Months PITIASFR, Condos
70070% LTV$3,000,00012 Months PITIASFR, Condos
70070% LTV$3,500,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68075% LTV$2,000,0009 Months PITIASFR, Condos and PUD’s
68075% LTV$2,500,00012 Months PITIASFR, Condos and PUD’s
68070% LTV$3,000,00018 Months PITIASFR, Condos and PUD’s
68070% LTV$3,500,00024 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
68070% LTV$2,000,0006 Months PITIASFR, Condos
68070% LTV$2,500,00012 Months PITIASFR, Condos
68065% LTV$3,000,00012 Months PITIASFR, Condos
68065% LTV$3,500,00012 Months PITIASFR, Condos

Purchase (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
66075% LTV$2,000,0006 Months PITIASFR, Condos and PUD’s
66075% LTV$2,500,0009 Months PITIASFR, Condos and PUD’s
66070% LTV$2,000,00012 Months PITIASFR, Condos and PUD’s
66070% LTV$2,500,00012 Months PITIASFR, Condos and PUD’s

Cash Out Refinance (Owner-Occupied)

Credit ScoreLoan to ValueLoan AmountReserves (REO)Property Type
66075% LTV$1,500,0006 Months PITIASFR, Condos
66070% LTV$2,000,0009 Months PITIASFR, Condos
66065% LTV$2,000,0009 Months PITIASFR, Condos
66060% LTV$2,000,0009 Months PITIASFR, Condos

Eligible Transactions: Purchase and Rate / Term Refinance: 95% LTV Purchase or Rate & Term refinance with 720 credit score on Owner Occupied only – No Mortgage Insurance.

Eligible Occupancies: Owner-Occupied / Primary Residence, Second Homes, Investment

Ineligible Property Types: Non-Warrantable Condos, Condotels

Underwriter Notes:

* Non-Occupant Co-Borrowers OK *

* DTI allowed up to 55% – $1,000,000 Cash-Out

* This loan program is considered a “non-prime” loan product because it will allow for past mortgage late payments up to 90 days late.

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Nevada, New Jersey, New Mexico, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.

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