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Featured Loan Programs & Guidelines

DSCR 1.15% Jumbo

Parent Category: Non-Qualified Mortgage Lenders
Category: Programs We Offer
Last Updated: 01 August 2020

Experienced Real Estate Investors - 25 Financed Properties - OK 

Jumbo $2,000,000 Maximum Loan Amount

DSCR Debt Service Coverage Ratio Loan Program

Verification of Employment VOE: None

Debt Rate Coverage - 1.15%

Credit Score - 600

No DTI Calculated. All Rental Income Based

No Tax Returns or 4506-T Form Tax Transcripts

Cash-in-hand $1M for Business Purposes

Clean Credit Previous 24 Months


700 Credit Score

  • 80% LTV - $2,000,000
  • 75% LTV - $2,500,000

660 Credit Score

  • 80% LTV - $1,500,000
  • 75% LTV - $2,000,000
  • 70% LTV - $2,500,000

620 Credit Score

  • 80% LTV - $1,250,000
  • 70% LTV - $1,500,000
  • 65% LTV - $2,000,000

600 Credit Score

  • 70% LTV - $1,250,000
  • 60% LTV - $1,500,000


Cash Out Available


700 Credit Score

  • 80% LTV - $1,500,000
  • 70% LTV - $2,000,000


660 Credit Score

  • 80% LTV - $1,250,000
  • 75% LTV - $1,500,000
  • 65% LTV - $2,000,000


620 Credit Score

  • 70% LTV - $1,250,000
  • 60% LTV - $1,500,000
  • 50% LTV - $2,000,000
  • 40 Year Fixed Rate - Interest-Only Option with 700 Middle Credit Score


Available Terms:

  • Fixed 30
  • ARM's 5/1, 7/1, 10/1
  • Interest-Only Payment Available


Inherited Properties: 
OK. Includes Properties Obtained via Divorce/Separation or Dissolved Domestic Partnership. 6 Months Inheritance Seasoning Required for Cash Out "Using Market Value"


Delayed Financing: Not Allowed


Eligible Property Types & Occupancies: Primary Residence, Second Homes - SFR Only, Non-Owner-Occupied / Investment - SFR Only. Non-Warrantable Condos and Condotels OK


Eligible Borrowers: 
Foreign National, Permanent Resident Aliens, and Non-Permanent Resident Aliens OK


Power of Attorney: OK for Purchase and Rate and Term Refinance


Vesting: Corp and LLC OK

Gaps in Employment - Not Allowed Over 60 Days Without Official Employment Offer Letter

Non-Occupant Co-Borrower's: OK 

 

States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Maine, Maryland, Massachusetts, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington

12 Month Bank Statement Alt Doc

Parent Category: Non-Qualified Mortgage Lenders
Category: Programs We Offer
Last Updated: 11 August 2020

Self-Employed Home Loan | 1-Year Lite Doc

Purchase / Rate & Term | 90% LTV - 680 Credit Score

Cash-Out Refinance | 85% LTV - 660 Credit Score $1,500,000 Maximum Cash-in-Hand

Maximum Loan Amount - $3,500,000

Self-Employed Borrower Income | Lite Doc
Income:

  • 12 Months Personal Bank Statement
  • Profit and Loss Statement: Borrower Prepared and Unaudited P&L
  • Expense Factor: A percentage determined by the Loan Officer and signed off on by the underwriter. Criteria for the underwriter to consider is the Scope (Business Narrative Form) of the company
  • Asset Depletion

Self-Employed Borrower Verification of Employment Documentation | VOE

  • CPA, Enroll Agent or Professional Tax Preparer to state percentage of business ownership. Have been filing Self-Employed tax returns for previous X number of years (>2years)
  • W2 Wage Earner Co-Borrower - OK-

Wage Earner Docs:

  • Previous Year W2 and Recent Paycheck Stubs for the previous 30 days
  • Written Verification of Employment | WVOE
    • Standard form sent to and to be completed by Employer Human Resource Department or Direct Supervisor

50% Maximum Debt-to-Income Ratio | DTI

ss

Credit:

  • One Mortgage Late in Previous 12 Months, OK.
  • Asset Depletion Available for W2 Wage Earner and Self-employed

 

600 Minimum Middle Credit Score

Can Own up to 20 Financed Properties

 

States: 

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Kansas, Massachusetts, Missouri, Nevada, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Texas, Vermont, Virginia, Washington, Wisconsin

 

  1. Non-Prime True No Doc Loan Program
  2. 6 Month Bank Statement Mortgage Programs

Alternative Income Documentation

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Jumbo Bank Statement Mortgages

  • Cash Out - 85% LTV
  • 12 Month Bank Statement Jumbo Program
  • 90% LTV 12 Months
  • Non-Prime Super Jumbo - $5,000,000
  • 24 Months Personal Bank Statements
  • Non-Prime - 620 Credit Score

Jumbo Mortgages

  • Super Jumbo Loans
  • Jumbo Loans

Hard Money Loans

  • After Repair Value Purchase Loan
  • Private Money 75% 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
  • ARV Rehab Loan Program

Loans by State

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Niche Loan Programs

  • Inherited Property Loan
  • No Doc Super Jumbo Loan
  • Tax Returns Not Required
  • Asset Depletion - 660 Credit Score
  • Non Warrantable Condos
  • One Year W-2 Jumbo
  • 6 Month Bank Statement - 660 Credit Score
  • Second Mortgage - $500,000
  • Interest Only - $3,000,000
  • Bank Statements 1.5M Cash Out
  • Hard Money Loan Programs
  • Niches | Bank Statement Mortgage Loans
  • 1 Year Tax Returns
  • Business Purpose Loans

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