6/24/2019

Niche Loan Mortages




Video of Kern County California Bird Sanctuary by Caroline Gerardo to enjoy while you read the mortgage information below

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·         12 or 24 month Personal bank statements
·         12 or 24 month Business bank statements
·         No tax returns required
·         Owner-occupied, 2nd homes, and investment properties
·         Loan Amounts from $200,000 to $3,000,000
·         90% LTV available
·         DTI up to 50%
·         Credit Scores as low as 620
·         No MI on LTV’s >80%
·         Interest Only up to 85%
·         SFRs, townhomes, condos, 2-4 units
·         Non-warrantable condos considered
·         No limit on number of properties financed
·         3 years seasoning for foreclosure, short sale or deed-in-lieu
·         3 years seasoning for bankruptcy
Foreign National
  • Up to 75% LTV
  • Loan Amounts from $200,000 to $3,000,000
  • Second Homes & Investment
  • All property types including non-warrantable condos
  • Social Security or ITIN numbers not required
  • No US credit
  • VISA or travel authorization card
  • Reserves can remain abroad

True Stated Income No Assets & Stated Income Verified Asset Loans are Available For:

  • Non Owner Occupied 1 - 4 Unit Properties;
  • Business Purpose Owner Occupied Loans
  • Business Purpose Non-Owner Occupied, NO TRID Requirement
  • Foreign National Loans
  • Fix & Keep Purchases
  • Mixed-Use (Res) Loans
  • Non-Warrantable Condos
  • Condotels

Program includes:

  • 5/1 Arm or 7/1 Arm - 30yr Amortized Payment
  • 40yr Term / 10yr IO Fixed, then 30yr Fixed or ARM


Qualify Your Borrowers with the
ONE Month Bank Statement Program

Requirements:

  • Borrower must be self-employed or 1099
  • Most recent personal account bank statement
  • Income is ATTESTED to and DECLARED
  • 650 minimum middle credit score
  • 25% Down or more
  • Maximum loan amount of $5 mil
  • Reserve funds are not required
  • First time home buyers qualify. Contact your Account Executive for details.

Restrictions:

  • SFR / Condo / Townhouse Property types only
  • No charge-offs, collections or tax liens
  • Owner occupied only
  • U.S. residents only

Bank Statements for Income Qualification Loan Amounts to $5 million

Program Details:

  • Up to 90% LTV
  • 100% of deposits for personal statements
  • 50% of deposits for business statements
  • Don't look at withdrawals
  • Don't look at overdrafts
  • No P&L
  • No 3rd party expense statements for income calculation
  • < 70% LTV can count transfers
  • 2 years from foreclosure, short sale or bankruptcy
  • Interest only available

Requirements:

  • 12 months of statements
  • Owner occupied w/ 700 FICO to 90%, 650 FICO to 85%
  • Self-employed and 1099 borrowers only

Bank Statement Loans • Foreign Nationals • Second Chance Loans We also have a variety of customized products: • FHA/VA • First Time Homebuyer • Jumbo and Conforming Loans • Investment Properties (1-4 units) • Construction Loans • Second/Vacation Homes 
NICHE PRODUCTS call and talk about your deal
The Deal Desk is open always.

Some niche products require CPA letters, some do not.
Some niche products require Profit and of Loss Year to Date


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