This loan program is available for self-employed borrowers who have a credit score of 675 or higher and are looking to purchase or refinance a property that will be owner-occupied. The maximum loan amount is $3 million, with a maximum loan-to-value (LTV) ratio of 75% for purchases and 70% for refinances. First-time home buyers may be eligible for a lower LTV. The loan program requires the borrower to provide a 3-month bank statement and income can be verified through transfers.
This loan program is available for self-employed and 1099 borrowers who have a credit score of 600 or higher and are looking to purchase or refinance a property. The maximum loan amount is $4 million, with a maximum loan-to-value (LTV) ratio of 90%. The loan program requires the borrower to provide a 12-month bank statement, and they can qualify with 100% of personal deposits and 50% of business deposits. No reserves are required for LTV ratios under 75%. No 4506T, K1s, or P&Ls are required and there is no mortgage insurance.
An investor cash flow loan program is available for the purchase or refinance of single-family homes (SFRs), 2-4 unit properties, condos, townhomes, condotels, and non-warrantable condos. The maximum loan amount is $2 million, with a maximum loan-to-value (LTV) ratio of 75%. The properties must be non-owner occupied and no reserves are required for LTV ratios under 75%. The loan program requires a reconciled rent estimate based on a 1007 or lease agreement and there is no income or job verification required. The loan program offers a 5-year or 7-year adjustable-rate mortgage (ARM) and a 30-year fixed rate mortgage. Lender-paid compensation (LPC) and borrower-paid compensation (up to 3 points) are available options.
The ATR-In-Full loan program is available for borrowers looking to purchase or refinance an owner-occupied property. Borrowers must have enough liquid assets to cover the loan balance and do not need to be currently employed. Only two months of bank statements are required to qualify. The program is available for borrowers with a credit score as low as 600 and has a maximum loan-to-value (LTV) ratio of 75% for purchases and 70% for refinances. Liquid assets can be used to qualify for the loan.
