Stated Income / Stated Assets - Jumbo | Forms 4506-T and 4506-C Not Required
Purpose: Purchase, Rate/Term and Cash Out 80% LTV 620 Credit Score
70% LTV on the First Lien. 80% CLTV Allowed with Outside Second Mortgage. This Loan is for the Self-Employed borrower. This is a Portfolio / Bank Lender loan program with Loan Amounts from $200,000 - $2,000,000.
Credit Scores:
- 700 Minimum
- LTV:
- 70% Maximum Financing
Property Types:
- SFR
- Condos
- 2-4 units
Occupancies:
- Non-owner Occupied / Investment
- Stated Income also available on Primary / Owner Occupied homes
Terms:
- 3 and 5 year ARM's
- 30-year amortization
- Payment Cap at Prime + 4% after fixed portion of the term
- Call for other amortization options
- Interest-Only Available
Prepayment Pricing Options available
Tax and Insurance Impounds required
First Time Homebuyer - Reduce LTV 5%
States:
Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Nevada, New Jersey, New Mexico, North Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.