Condo Mortgage Program 90% LTV to $2,500,000
Purpose: Purchase, Refinance Cash Out
80% LTV – $4,000,000 – 740 Credit Score
80% LTV – $3,500,000 – 720 Credit Score
90% LTV – $2,500,000 – 700 Credit Score
90% LTV – $1,500,000 – 680 Credit Score
90% LTV – $3,000,000 – 700 Credit Score
85% LTV – $2,500,000 – 660 Credit Score
85% LTV – $1,500,000 – 640 Credit Score
Verbal Verification of Employment Options Available (V V O E)
First Time-Home-Buyer OK – 2 Million Maximum Loan Amount
40 Year Fixed Rate – Interest-Only Option with 660 Middle Credit Score
Expanded Guidelines Options for Non-Traditional Condominium Property Types* 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 – OK
Eligible Property Types & Occupancies: Primary Residence, Second Homes – SFR Only, Non-Owner-Occupied / Investment – SFR Only. Non-Warrantable Condos and Condotels OK
Foreign National, Permanent Resident Aliens, and Non-Permanent Resident Aliens OK
Power of Attorney OK for Purchase and Rate and Term Refinance
Non-Occupant Co-Borrowers OK
Vesting LLC OK
Gaps in Employment OK Case-by-Case
Available in the Following States:
Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, and Washington.