Up To 80% LTV One Loan

5/1 ARM Interest Only

Rates between 6.00% to 8.50% (depending on liquid assets)

1 Day Off MLS is OK

No Seasoning of Funds, or on Title (FULL DOC ONLY)

Unlimited Cash-out

Occupancy: Owner Occupied, 2^nd Home, Non-Owner Occupied.

Property Type:  1- 4 Family, High Rise Condos & Co-Ops in Major Metro Cities

Credit Score: 620 FICO, Full Doc (Owner Occupied & 2^nd Home); Loans from $1,000,000 to $30,000,000; 80%LTV; Purchase, Rate/Term and Unlimited Cash-Out; 6-months PITI Reserves Minimum (include all liquid assets on 1003, the great the amount of liquid assets for reserves the stronger the file and increased likelihood of acceptance)

700 FICO, Full Doc (Owner Occupied, 2^nd Home, & Investment Property)  Loans from $1,500,000 to $50,000,000; 80%LTV; Purchase, Rate/Term and Unlimited Cash-Out; 12-months PITI Reserves Minimum (include all liquid assets on 1003, the great the amount of liquid assets for reserves the stronger the file and increased likelihood of acceptance)

720 FICO, Sated Income Verified Assets (Owner Occupied, 2^nd Home, & Investment Property)  Loans from $1,000,000 to $3,000,000; 80%LTV; Purchase, Rate/Term and Unlimited Cash-Out; Minimum Reserves Requirement (50% of loan amount)

Documentation:

PURCHASE

1.      Color copies of Driver’s License and Social Security Card;

2.      Color copy of appraisal PDF format (after completion for construction);

3.      Please instruct the appraiser to provide E&O and license inside the PDF appraisal;

4.      Name and number of insurance provider;

5.      Name and number of title company (or lawyer) ;

6.      Condo/Home Owner’s association name and contact information ;

7.      Three months statements of ALL liquid assets, all pages through current month (No VOD’s);

8.      Signed copy of contract and all extensions;

9.      SIGNED COPY OF 1003;

10.  Copy of deposit check front and back, or bank statement showing deposit exiting the account;

11.  Copy of credit report;

12.  Please submit all 1003's in PDF;

13.  If borrower has investment properties provide current leases, tax, and insurance information;

14.  If Self Employed please provide a copy of articles of incorporation and business license;

15.  If Self Employed please provide a copy of certificate of good standing from the State;

16.  If Self Employed please provide CPA letter;

17.  Please provide two years taxes returns/ W-2’s and two most recent pay stubs;

18.  Asset Statements with all pages.

REFINANCES

1.      Color copies of Driver’s License and Social Security Card;

2.      Color copy of appraisal PDF format (after completion for construction);

3.      Please instruct the appraiser to provide E&O and license inside the PDF appraisal;

4.      Copy of current homeowner’s insurance policy;

5.      Copy of old title insurance policy;

6.      Condo/Home Owner’s association name and contact information ;

7.      Three months statements of ALL liquid assets, all pages through current month (No VOD’s);

8.      Payoff Statements for any and all mortgages;

9.      SIGNED COPY OF 1003

10.  Copy of credit report;

11.  Please send the Calyx file as a PDF and include the password (i.e. 1234);

12.  If using Encompass please scan or fax full file;

13.  If borrower has investment properties provide current leases, tax, and insurance information;

14.  If Self Employed please provide a copy of articles of incorporation and business license;

15.  If Self Employed please provide a copy of certificate of good standing from the State;

16.  If Self Employed please provide CPA letter;

17.  Two years taxes returns/ W-2’s and two most recent pay stubs;

18.  Asset Statements with all pages 

To close in a LLC/Non-Profit Organization’ name the following applies:

1.      No more then 4 members in the entity;

2.      All members must be individuals;

3.      All members are required to sign the note;

4.      No subordinate financing available;

5.      Three months business bank statements (No VOD’s);

6.      Last two years business tax returns 

Up TO 80% LTV One Loan

Prime up to Prime+2

During Construction Phase Interest Only Payments

For Permanent Financing The Rates Will Be Between 6.50% to 8.50% (depending on liquid assets)

No Pre-Payment Penalty

1. Items 1 through 18 (listed above);

2. Copy of the architectural blueprints;

 3. Copy of construction cost breakdown and completion schedule;

4. Copies of the builder’s permits, licenses and insurance. 

Construction is only available for primary  homes (ask your AE about commercial properties and developments

This program is based on a combination of “LACSA” (liquid assets, credit and strong appraisal) oppose to being primarily FICO driven.  Submit a fully completed and signed 1003 along with credit report and appraisal for a pre-qualification.

**Must be an approved broker in order to receive a written pre-qualification**

***Broker Packages Available on Website***