Portfolio Mortgage Lenders and Loan Programs
Portfolio Mortgage Lenders
A portfolio mortgage lender can be completely different than any other lender. All loan approvals are underwritten in-house seldomly require investor signature. A portfolio lender will identify a market niche and in-turn develop a portfolio of Qualified or Non-Qualified loan products specific and unique to the under-served market demographic with either a Qualified Mortgage (QM) loan program or a Non-Qualified Mortgage (Non-QM) loan program.
True Portfolio Lenders and Customized Financing Solutions
Manual underwriting allows the lender to look at each borrower as an individual, into a reasonable mortgage. Because these lenders will service the loan often for the life of the loan, they make their own rules and in the world of mortgage lending, that means their own underwriter guidelines. Fast Closing xxxxxxxx Fast closings in 30 days or less and pre-approvals done within 48 hours of complete submission.
QM, Non-QM, and Non-Prime Lenders
Underwriting Guideline exceptions and requirements are based on credit scores, Debt to Income ratio, equity position/loan to value ratio, occupancy, property type, and various variables and loan characteristics such as "credit event" seasoning.
Benefit to Borrow (tangible benefits):
- Documentation type, Credit Depth and Seasoning, Borrower employment and business seasoning, Liquid asset sources, purchase seasoning.
- Property Acquisition for Self-Employed and Agency Fall-out
- Interest Rate Deduction
- Credit Card Debt Consolidation
- Disposable Income Increase
- Fixed Rate or Term Extension Rate and Term Refinance
- Cash Out Refinance for Business Expansion
Self-Employed Income Documentation Programs
- 1099 Only (one year and two history verification)
- Asset Depletion loans (all qualifying as a stand-alone income or to supplement)
- One to Six Month Bank Statement Programs (1 month through 6 months)
- P&L Only
Self-Employed Verification of Employment (VOE) Options
- Borrower Prepared P&L
- CPA or equivalent
- Accountant/Tax Professional
Lite Doc and Reduced Doc Programs
- 1 Year Tax Return - 1 Year
- Reduced Doc for W-2 for Wage Earning borrowers
Jumbo and Super Jumbo Loan Amounts
- $300,000 to $30,000,00
- Cash Out Limit - $16,500,000
Below are Underwriting Feature Guidelines
- 1 Year VVOE Verbal Verification of Employment for W-2 Wage Earners
- 1 Year Tax Return Calculation Allowed for Self-Employed Borrowers - 75% LTV
- LTV's up to 85% allowed. We will allow a 2nd lien over 85% CLTV – Combined Loan-to-Value from another lender on a Case-by-Case basis
- LLC Closings Allowed Including Cash-Out.
- No Cash Out Limits. Unlimited Cash-Out/Cash in Hand up to $4,000,000 Max Loan Amount and No Title Seasoning Requirements
- Non-Occupant Co-Borrower Allowed on Rate/Term Refinance
- Cash out refi, second homes, and purchases with true blended ratios
- Cash out can be counted towards reserves or added to the asset depletion calculator
- Cross Collateral and Bridge Financing
- Departing Residence Solutions - Exclude Departing Residence Housing Expense to be Sold / Not yet in Contract to make it easier to DTI Qualify
- Pledged Asset Lending
- Business funds allowed for down payment and reserves
- Gift funds allowed for down payment and reserves, even on investment properties
- Investor-friendly underwriting (abbreviated schedule e calculations for 5 + properties)
- Boarder and VRBO / Airbnb income allowed
- Vesting in entities, many different trust situations, privacy mortgages
- Combine all of our programs
Asset Depletion and Debt-to-Income (DTI) Flexibility
- Restricted Stock Units. Stock option income. RSU's, Stock Options, Stock Grants may be used as income and the vested stock can be used as an asset.
- Exclude the PITI on a primary residence listed for sale with 25% equity.
- Removal of alimony AND child support from the income vs. adding as liability.
Eligible Property Types
- Non-Warrantable Condos, Condotels, Co-ops
- Foreign Nationals and Work Visa Borrowers with no US Credit or Tax Returns - No credit - OK
- Visa's - Work and Student visas, EAD
- ARM and Fixed Rates Available
- Interest-Only Available on 40 Year Fixed
|Mortgage Pre-Qualification Form - No Credit Check|