Manual Underwrite Super Jumbo Mortgage
Super Jumbo Non-Conventional Mortgage Loan Program | Flexibility | Freedom | Buying Power
mortgage financing freedom ability to purchase a home or expand your real estate portfolio manually underwritten home loan program and can be for anyone with either an overall credit profile deficientcy or high compensating factors such as liquid reserves and equity position, Real Estate Owned (REO) portfolio.
We have originated and closed this loan program with > 60% debt-to-income ratio (DTI).
Manual underwriting is not just a Non-Prime opportunity or Near-Prime "non-angency" program alternative. Non-Agency, "a-paper fall out" solutions Super Jumbo loans with loan sizes of up to $30,000,000. Depending on the scope of the loan, final approval may require upper management signature or loan commitee approval.
Portfolio Jumbo lenders can underwrite their loans inhouse retaing control of the file, application to funding all under 1 roof.
This loan program is similar to Hard Money because of the flexible and equity-based guidelines but also can come with pricing very reasonable, possible cocessions not included.
Alt-A loan program or a Prime Portfolio lender
It's been described as an Alt-A loan program or a Prime Portfolio lender lender niche "specialty programs". It is also similar to an Asset Depletion loan.
Why? she had a lot of equity in her newly acquired rental properties.
We were able to utilize her rental income from properties as new income, ownership seasoning not required. Conventional lenders require 2 years ownership seasoning before they will qualify as income.
There are always compensating factors.
See Jumbo Loan guideline highlights below. Call us to get prequalified
No employment history OK
Maximum loan amount:
Cash Out Refinance
Maximum LTV Loan-to-Value:
620 minimum, exceptions made with compensating factors
60% or higher, typically derived from liquid assets
Owner Occupied / primary
Owner Occupied multi-unit
Non-Owner Occupied / Investment property
Single Family Residence SFR
5 Year ARM
7 Year ARM
10 Year ARM
Interest Only payment option available on all terms
Can utilize rental income to strengthen file, ownership seasoning not required.
Can use real estate equity to meet liquid reserve requirements.
Liquid assets documented with just 2 months account statements and will be verified by third-party.
Foreign Nationals OK:
Foreign bank accounts for reserves- OK
Foreign credit score / Fico accepted
Business Legal Entity:
OK for purchase transactions, requires corporation ID number
No defined credit score / FICO score requirements
No Seasoning requirements for foreclosure, short sale or bankruptcy
Close in as little as 9 Days
Alabama, Arizona, California, Colorado, Delaware, Florid, Georgia, Hawaii, Illinois, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, Washington, and Wisconsin
Reference # 555 10 -5 -5