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| MATRIX |
RESIDENTIAL | MAX LTV | PURCHASE MAX CLTV |
R/T & C/O MAX CLTV |
MAX CASH OUT |
| 2ND HOME NON-OWNER |
65% 65% |
85% 85% |
65% 65% |
Unlimited Unlimited |
|
| COMMERCIAL MULTI-FAMILY MIXED-USE Exceptions Considered |
60% 60% 60% |
80% 80% 80% |
60% 60% 60% |
Unlimited Unlimited Unlimited |
|
| 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: $1.1Million | ||||
| 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 provided 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. | ||||
| BANKRUPTCY |
No buy out or court approval. | ||||
| FORECLOSURE | Active foreclosures are not permitted. Multiple foreclosures are not eligible. | ||||
| INCOME DOCUMENTATION | Full Doc, SIVA, SISA | ||||
| CASH OUT RESTRICTIONS | Unlimited | ||||
