|Matrix||Type||Max LTV||Purchase Max CLTV||R/T & C/O Max CLTV||Max Cash Out|
Property Types: 1-4 Family homes, condos, townhouses, PUDs, mixed-use, commercial, multi-family. No manufactured or mobile homes
CLTV: 85% CLTV Allowed for purchase transactions on residential properties with Seller-carry or other secondary financing. Example: 70% 1ST and 15% Seller-carry! 15% Down Payment. 80% allowed on commercial, multi-family and mixed-use properties for purchase transactions only with Seller-carry or other secondary financing.
Loan Amount Range: Min. Loan Amount: $100K. Max. Loan amount: case by case
Employment & Assets: Employment must be disclosed for all doc types and need to state company name, phone number, and position. Assets must be disclosed and verified for SIVA documentation types. Assets must be stated on SISA doc type.
FICO: No FICO requirement
Standard DTI/DSC: NON FACTOR
Mortgage History: NON FACTOR
Lates: NON FACTOR
Judgments, Delinquent Taxes and Other Liens: All Liens on title must be paid at closing or the borrower must provide evidence of satisfaction. Title must indicate that any liens will be removed of record upon pay off of same. Tax liens are required to be paid prior to closing or may be paid off through proceeds at closing.
Income Documentation: Full Doc, SIVA, SISA
Cash Out Restrictions: Unlimited
If you have any questions about our borrower guidelines, please contact us today to speak with one of our knowledgeable representatives.