At A&D Mortgage, we continue to update our products to meet the needs of our partners and their borrowers. This is why we’re excited to share our most recent December loan updates. They take effect on December 12, 2022.
Updates
- Multifamily and Mixed-Use Properties. We will allow investment loans for 5-to-8 multi-family and 2-to-8 mixed-use units. These loans will require minimum loan amounts of $400,000, minimum FICOs of 680, CLTVs of at least 65%, and DSCRs above 1.1.
- Cash-out Seasoning. If seasoning on the cash-out loan is less than 12 months, the maximum CLTV will be based upon the lower of either the current appraised value or what the borrower initially invested at the time of purchase plus any documented improvements.
- WVOE. Bonus, Commission, and Overtime are allowed.
- Condos. Project reviews are waived for condos that are either detached condos or in 2-4 unit condo projects.
Ready to Take Your Business to the Next Level?
A&D Mortgage offers a full suite of products to meet your clients’ needs, including DSCR loans, bank statement loans, and conventional loans. As a trusted mortgage lender, we provide flexible solutions and competitive rates to ensure you can deliver the best options for your borrowers.
Explore our exclusive broker package and benefit from partnering with A&D Mortgage today. Plus, use our loan calculator for instant quotes and pricing on any product. Become a partner and access the best tools to grow your business.
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