Stated Income/Verified Assets 680 Credit Score 4 Million

Asset-Based Verified Assets Qualification Program – No 4506-C

Owner Occupied/ Primary residence allowed. The applicant must demonstrate their ability to save by providing proof of cash reserves that will support their existing and proposed debt, front and back-end debt ratio. See Underwriter Guidelines and Highlights:

Loan Purpose: Purchase, Rate & Term and Cash Out ~

This is both a Stated Income and Asset Depletion “Verified Assets” loan program and it is designed for the high-net-worth borrower that is looking to purchase a primary home or Rate & Term refinance or Cash out refinance their primary home.

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Income Documentation Notes & Supplement Options:

* Stated Income / Verified Assets (SIVA)

* Asset Depletion (increased loan amounts)

* Tax Returns – Not Required

* Form 4506-C – Not Required

* Retirement Accounts

* Investment Statements

* Money Market Accounts

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Credit Criteria Requirements:

* Mortgage history – No 30-Day lates for previous 25 months

* Bankruptcy Seasoning: – 24 months

* Foreclosure Seasoning – 24 months

* Short Sale – 24 Months

Eligible Credit Scores:

* 680 Primary Borrower

* 580 Co-Borrower

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Loan to Value Ratio (LTV)

* 75% Maximum

* Combined (piggyback Second Mortgage) Loan to Value ratio (CLTV)

* 80% Maximum (underwriter exception to 80%)

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Debt to Income Ratio (DTI):

* N/A

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Maximum Loan Amounts:

* $4,000,000 – 60% LTV

* $3,500,000 – 65% LTV

* $3,000,000 – 70% LTV

* $2,500,000 – 75% LTV

* $2,000,000 – 80% LTV

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Eligible Employment Types:

* Self Employed (no personal or corporate tax returns)

* Sole Proprietor (no schedule C)

Non-Profits do not qualify for this program

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Available in the Following States:

Arizona, California, Colorado, District of Columbia, Florida, Georgia, Illinois, Indiana, Louisiana, Massachusetts, Maryland, Minnesota, Nevada, Oklahoma, Oregon, Texas, Utah, and Washington.

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Reference# 535 06131519-9-22-1