Residential Loan Programs
CONVENTIONAL FANNIE MAE AND FREDDIE MAC
- Up to 97% financing
- 100% of down payment and closing costs may be gifted
- No credit score required subject to AUS on standard conforming loan limits
- Up to 10 financed properties
- Appraisal transferred allowed on standard conforming loan limits
FHA
- Up to 97% financing
- 100% of down payment and closing costs may be gifted
- No credit score required
- Up to 10 financed properties
- Appraisal transferred allowed
VA
- 100% Financing
- Loan amounts to $1.5 million
- FICOs from 500
- Cash out up to 100% LTV
- DTI up to 60% with AUS Approval
- No monthly mortgage insurance
- Manual underwriting/AUS Refer
JUMBO - NON AGENCY
- 90% LTV on Purchase transactions with no MI
- Interest-Only under 75% LTV
- Second Homes, and 1-4 Unit for Investment
- US Citizens, Permanent and Non-Permanent Residents
- Aggressive pricing on fixed and ARM programs
- 80% LTV/CLTV up to $2M min. 660 FICO
- 70% LTV/CLTV up to $3M min. 700 FICO
- Investment property to $2M
- No Mortgage or Rental history required
INVESTOR SOLUTIONS (DSCR)
- Loans to $5 million
- No 4506T
- 30-year, 15-year, 5/1 ARM and 7/1 ARM with interest only
- Non-Permanent Resident and Foreign Nationals allowed
- Foreign Nationals – No ITIN or SSN required
- VOD allowed
- 1 to 4 units
- Unlimited Cash-Out
- No ratio/No reserve
NON-QM - P&L, Bank Statement (Personal or Business)
- 12 month personal bank statements
- Up to 90% LTV – no MI
- 2 years seasoning FC, SS, BK, or DIL
- No tax returns required
- DTI 40/45 (Up to 50% considered)
- Loans up to $3 million (minimum loan $150,000)
- Credit scores starting at 600
- First-time homebuyers OK
- Interest-only available
Conventional
FANNIE MAE AND FREDDIE MAC CONFORMING/HIGH-BALANCE (FNMA/FHLMC) • Up to 97% financing • 100% of down payment and closing costs may be gifted • No credit score required subject to AUS on standard conforming loan limits • Up to 10 financed properties • Appraisal transferred allowed on standard conforming loan limits
DU REFI PLUS
• Up to 105/150% LTV/CLTV • Minimum FICO 620 • No mortgage insurance • PIW is acceptable subject to AUS
HOME READY
Home Ready is an affordable low-down-payment mortgage product designed for creditworthy low- to moderate-income borrowers. • Low down payment – up to 97% LTV financing for home purchases • No first-time buyer requirement • Flexible sources of funds with no minimum contribution from the borrower’s own funds (one-unit properties)
FHA
• Low 3.5% down payment • Up to 85% cash out • FICOs from 580 • Flexible credit + underwriting guidelines • Gift funds permissible for 100% of required investment and closing costs • Manual underwriting/AUS Refer
FHA STREAMLINE
• FICOs from 580 • Flexible credit + underwriting guidelines • Mortgage only credit report accepted • May not need to document funds to close • Variable loan terms down to 240 can help meet NTB test • No appraisal requirement • No income verification
MANUFACTURED HOMES
• Minimum 680 FICO • Tax transcripts for W2 • 4506T tax transcripts validated regardless of income source • Follows FHA Guidelines • Double or triple-wide only. No single-wide units. • Min. 400 sq. ft. Must be constructed after 6.15.76 • No new construction or MH condos permitted • Non-traditional credit is not allowed