Purpose:

  • Purchase / Rate & Term Refinance - 90% LTV
  • Cash Out - 85% LTV

Loan Amounts:

  • $3,000,000 Maximum
  • $2,000,000 Cash Out

Employment Types:

  • Self Employed - Two Years Minimum
  • Wage Earner / W2 Co-Borrower OK

Eligible Business Entities:

  • Corporation
  • LLC
  • Sole Proprietor

Employment Verification:

  • Business License or Business Certificate If Applicable
  • CPA Letter or Equivalent

Income and Employment Documentation:

  • 12 Months Bank Statements
  • Borrower Prepared and Unaudited Profit and Loss Statement. Bank Account or Personal Bank Account  - OK
  • Utilize Liquid Assets for Additional Income
    • Checking Accounts, Savings Accounts, Stocks, Bonds, Mutual Funds, Certificates of Deposit, Money Market Funds, Trust Accounts, Retirement "amount invested", Trade Equity, Savings Bonds, Peanut Butter & Jelly Sandwiches with the Crusts Removed, Trust Accounts, Sale of Real Estate, Etc.

Property Types:

  • SFR - Detached
  • SFR - Attached
  • 2-4 Units
  • Condominiums
  • PUD's

Occupancies:

  • Owner-Occupied
  • Investment
  • Second Home

Credit Scores:

  • 620 Minimum
  • 720 Score: LTV 90%

Credit Seasoning:

  • Bankruptcy: Four Years, Two Years with Compensating Factors
  • Foreclosure: Four Years, Two Years with Compensating Factors
  • Short Sale: Four Years, Two Years with Compensating Factors
  • Loan Modification: Four Years, Two Years with Compensating Factors

Compensating Factor Examples: Low LTV. Low DTI. Credit Depth and Over-All Seasoning

DTI – 50

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