Outside The Box! Alternative Loans!

Think Outside The Box! Look at the Alternative Loans!

 

PRIME

 

·    90% LTV purchase with no MI

·    85% LTV Rate & Term with no MI

·    Credit scores down to 640

·    Loans up to $1M

·    12 or 24-month personal bank statement owner occupied and 2nd homes

·    Interest only program

·    No MI

 

CORE

 

·    Loans up to $2M

·    Owner occupied, 2nd home, NOO to $1.5M

·    Short-term rental program

·    Credit scores down to 500

·    1 day out of F/C, BK, DIL, Short-sale

·    24- month personal bank statements

·    24-month business bank statements

·    Use lease agreements in lieu of Schedule E’s with 2  months cancelled checks

·    Non-warrantable condos

·    Interest only program

 

INVESTOR

 

·    No DSCR program available

·    Non-TRID loans

·    75% maximum LTV for purchase transactions

·    70% maximum LTV for refinance transactions

 

Bank Statement Program

 

·    24-month personal bank statements

·    12-month personal bank statements

·    2 months business bank statements required

·    Hybrid bank statements programs available

·    24-month business bank statements

·    Unaudited 3rd party P&L for 2016 + 2017 YTD

·    Net income from 3rd party P&L utilized

·    Borrower must be minimum 25% owner of business