2 Bank Statements only for owner and non owner properties.

Average Rate Range is 3.55% to 4.75% note rate. Interest only option available.

SIVA at 85% LTV Max (O/O, 2nd Home, N/O/O) on Purchase with 720 score or 80% with a 700 score and R&T Refinance. or 75% with a 660 score

75% loan to value rate range is high 3% range.
80% loan to value rate range is 4.5% range.
85% loan to value rate range is 5% range.

Need 660 mid credit score for this product. Interest only available at 70% LTV Max (O/O, 2nd Home, N/O/O) on Cash-Out Refinance. Loan package is easy alternate doc with 2 months personal or business banks statements. Reserves: 6 mos PI.(≤ 60%LTV or $1Mil) Or 12mos.(61%-85%LTV or >$1mil) P&I only! Large deposit sourcing not required. We use the current balance not the average balance. Use cash out for the reserve requirement if needed.

Max dti 49%. Max Loan amount $5,000,000. Cash-out to 75% LTV with 700 score. or 65% with 680 score. No tax returns. No W2s. No 1099s. Gift funds okay for 100% of the down payment. Need YTD P&L and last years P&L. There is a hit to the rate .25 for non owner, and or .25 for cash out. BK needs to be 3 years old. Foreclosure needs to be 5 years old. Short sale needs to be 2 years old.

Loan program best for self employed persons.

But if wage earner / No W-2s and no paystubs needed just need written VOE completed by employer.

What you need is the require down payment, closing costs – title & escrow fees, 1.5% to 2% point loan cost.

Borrowers who own additional rental properties no extra reserves required.

CA only properties.

List of Forms & Documents Required:

Photocopy of valid ID
At least two bank statements to show the reserves required per the above flyer matrix (please read Flyer for SFR above)
Business license – ie: state – federal – city business license for 2 years – if self employed
CPA letter or can be a licensed tax preparer letter – that they been in biz for 2 years – link for sample of what to mention
Year To Date (YTD) financials Sample P&L
Current mortgage statement if refinance
If purchase – need signed purchased contract. Need name and phone number of escrow contact.
If property is leased, provide lease agreements
Insurance declaration page/quote for coverage
1003 Loan Application – use printed 1003 leave liabilities blank.
Credit report we will pull or if broker submitted need full 3 bureau – but we still have to pull it
Borrower authorization Borrower’s Authorization
Borrower authorization to run and pay for credit Credit $ Authorization Form
SI form – Statement of Information SI Form – Statement of Information
How do you want to hold title Vesting Form For Borrower
Social Media disclosure Social Media Disclosure
**To expedite your file organize documents in adobe format “.pdf”.