No Ratio mortgage—no income disclosure required. A great fit for asset-rich or investment-savvy borrowers.
No income disclosed or documented:
* No DTI calculated
* Designed for primary, second home, and investment properties
* Available for purchases, rate/term, and cash-out refis
* Minimum: $100,000
Loan Amounts:
* Maximum: $3,000,000 (up to $1.5M cash-out allowed)
Credit Score Minimum: 660
Property Types:
* 1–4 unit residential
* Max)
* Condos
* PUDs
* Non-warrantable condos (case-by-case)
LTV Max:
* Purchase: Up to 75%
* Refinance: Up to 70%
Eligible Occupancies:
* Primary Residence
* Second Home
Assets:
* 3 months’ reserves minimum
* Must verify sufficient assets to cover down payment, closing costs, and reserves
Income:
* No income disclosed
* No employment verified
Documentation:
* Credit, assets, and property value required
* No income or employment documentation required
Prepayment Penalty:
* Applicable to investment properties only (where permitted by law
Other Notes:
* Foreign Nationals not eligible
* U.S. citizens and permanent residents only