Bank Statement Loans
- Loan amounts up to $3MM
- Cashout $2.5M
- Credit score down to 620
- DTI up to 55%
- Up to 90% LTV no MI
- All occupancy types allowed
- Non-warrantable condos considered by exception
- Multiple finance property allowed
- First time home buyers allowed
- Minimum 2 years self -employment
- Mixed Use properties: up to 4 total units
DSCR Loans
- Investor
- Loan amounts up to 3.5 million
- Up to 85% LTV
- Minimum FICO 620
- 2 to 8 mixed use eligible
- 1 to 8 units residential
- No Ratio DSCR available
FHA Loan
- High LTV – 96.50
- All funds for down payment can be gift – Does not require borrower to have any of own funds
- Seller can pay all closing cost up to 6%
- High Debt to Income Ratio
- Credit Score as low as 580 – Some programs to 500 reduce LTV
- NO INVESTMENT PROPERTY ONLY PRIMARY RESIDENCE
- 1 FHA LOAN PER PERSON – exception over 100 miles
Full Documentations Loans
Income:
W2s – 2 Years if Salaried Employed
Tax Returns – 2 Years if Self Employed
Paystub – Most Recent 30 Days (2 or more)
Award Letters: Social Security, Pension, or Disability if receiving this type of income
Assets:
Bank Statement – 2 months all pages
Retirement Statement – 2 months all pages or most recent quarterly statement
Investment Accounts – 2 months all pages
Credit:
Government issued Photo ID, Resident Alien Card (if Applicable)
Verbal or Written permission to pull credit
Already a Homeowner?
Current mortgage statement for all properties owned
Current property tax bill
Recent HOA statement (if applicable)
P&L Loans
- Third Party Prepared P&L Only
- Up to 55% DTI Allowed
- Up to 85% LTV
- As little as 6 months in reserve
- Purchase, refinance and cashout refinance allowed
USDA Loans
USDA Streamlines NO FICO
Minimum FICO 580 on full files OR true NO FICO
Manufactured homes allowed, double wide or bigger
Streamlined assist
USDA escrow holdbacks allowed
Home must be in a eligible rural area
Primary residence
Steady job and monthly income
VA Loan Program
- Minimum Credit Score 580
- LTV 100% – Primary Residence – 1-4 Units
- Purchase, Refinance & Cashout Refinance available
VOE Loans – Verification of Employment Only
- No other income doc
- 80% LTV Purchase and refinance
- 70% LTV cashout refinance
- VOE completed by borrowers’ company
- First time homebuyers 70%
- Min FICO 620
- 2 months bank statements to support income