This lender is a direct-lender, and they make their own manual underwriting decision. Major credit events only require 3 years seasoning. This is good for borrower that fall outside the Non-QM box with credit scores as low as 640 and minimal tradelines required. Flexible "expense factor" options for the bank statements both business and personal. Cash Out to $1,500,000. Additional details below.
LTV/Loan Amount/Credit Score Matrix
- 90% LTV to $2,500,000 - 700 Credit Score
- 85% LTV to $2,500,000 - 700 Credit Score
Bank Statement Income Documentation Options
- 12 Months Personal or Business Bank Statements
- 24 Month Personal or Business Bank Statements
- Asset Based Feature for additional qualifying Income
Maximum Debt-to-Income Ratio (DTI)
- 55%
Property Types
- Single Family Residence (SFR)
- 2-Unit
- 4-Unit
Occupancies
- Owner-Occupied/Primary Residence
- Second Homes
- Non-Owner-Occupied/Investment
Available Terms
- 15 Year Fixed - Interest Only Allowed
- 30 Year Fixed Interest-Only Allowed
- 40 Year Fixed and Interest-Only Allowed
Additional Underwriting Highlights
- Non-Occupant Co-Borrowers - Allowed
- First Time Buyers OK
- Non-Permanent Resident Aliens - OK
States:
Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, Nevada, New Jersey, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Washington, and Wisconsin.