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AD Mortgage

Programs

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Full Doc Non-QM

- FICO 600
- 85% CLTV
- Loan amounts up to $3 million
- Max cash-on-hand $1 million, no limit for LTV < 55%
- DTI up to 55%
- 30 & 40 Year Fixed, 5/6 ARM & 7/6 ARM
- Traditional income​
- 2-year credit event allowed​
- Super Prime & Prime Programs​
- Condo up to 85% CLTV​
- Condotels up to 70% CLTV
- NY up to 85% CLTV

12/24 Months Bank Statements

- FICO 600
- Up to 85% CLTV
- Loan amounts up to $3 million
- Max cash-on-hand $1 million, no limit for CLTV < 55%
- 30 & 40 Year Fixed, 5/6 & 7/6 ARM
- 3 months reserves
- 12 months from bankruptcy or foreclosure
- Mortgage history 0 x 60 x 12
- Condos up to 85% CLTV
- Combination of business and personal bank statements allowed
- Condo and condotels allowed

Asset Utilization

- FICO 600
- Up to 80% CLTV
- Cash Out up to 75% LTV
- Savings and checking 100%
- Securities at 100%
- Retirement at 70%
- Income calculation - all eligible assets divided by 60
- Super Prime & Prime programs

DSCR

- FICO 620
- Up to 80% CLTV
- Loan amounts up to $2.5 million
- Max cash-on-hand $1 million, no limit for CLTV <55%
- 40- & 30-year fixed, 5/6 ARM, &7/6 ARM terms
- No income or employment verification
- DSCR as low as 0
- Eligible for Non-Permanent Residents and Foreign Nationals (under Foreign National DSCR Program)
- Ownership of any property within the past 24 months
- Condotels allowed

Non Permanent Resident

- FICO 660
- Up to 90% CLTV
- Bank statements allowed

Foreign Nationals

- No score or FICO 620
- Up to 70% CLTV
- Loan amounts up to $2 million
- Cash-out allowed
- DSCR as low as 0
- CPA Letter for last 2 years & year-to-date
- One bank reference letter
- Overseas assets allowed as reserves
- Gift funds allowed

1Y + 2Y P&L ONLY

- FICO 600
- Up to 85% CLTV on 2Y and up to 80% CLTV on 1Y
- Max DTI 55%
- Loan amounts up to $3 million
- Max cash-on-hand $1 million, no limit CLTV < 55%
- P&L by Licensed CPA, Enrolled Tax Agent, or Licensed Tax Preparer
- No bank statement required
- Super Prime & Prime programs

Bridge Loan Program

- FICO 580
- 70% CLTV
- Interest Only
- No Income on 1003
- Foreign National allowed
- Refer to guidelines and matrix for prepayment penalty
- Fast closing
- No asset seasoning
- Eligible for Non-Permanent Residents

WVOE / 1099

- FICO 599
- Up to 80% CLTV for WVOE
- Up to 85% CLTV for 1099
- Loan amounts up to $3 million
- DTI 55% Max
- Cash out available
- Completed FNMA Form 1005 for 2-year history with the same employer

Freddie Mac Refi Possible℠

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5,000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Fannie Mae RefiNow™

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Prime Jumbo

- FICO 660
- Up to 80.00% HCLTV
- 15-Year & 30-Year fixed up to $3 million
- Cash out up to 80% HCLTV
- Manual UW for over $2 million
- DU Approve/Ineligible
- No mortgage Insurance is required
- Primary, second home, and investment properties are allowed
- Purchase, refinance, and cash-out refinance
- Delayed financing is available up to 180 days
- No overlays or reserves, credit, and tradelines – per DU
- Income as per DU

FHA High Balance

- Loan amounts up to $765,000 depending on home location
- Available on primary residence and second/vacation homes
- Condo financing available

FHA Streamline Refinance

- No appraisal and no income documentation are required
- You must have made at least six payments on your FHA mortgage
- To qualify, you’re required to be current on your monthly loan payments

FHA

- Financing up to 96.5%
- DTI up to 55%
- No appraisal is needed to apply for the streamline refinance FHA program
- Up to 6% of closing costs can be contributed by the seller

Conventional High Balance

- Loan amounts up to $970,800 in high-cost areas for a single unit
- Eligible for primary and secondary homes
- More competitive rates and easier guidelines
- Faster turn times

Freddie Mac Home Possible®

- Fixed-rate financing for easier budgeting
- Homebuyer education is required for first-time buyers

Fannie Mae HomeReady®

- Down payments as low as 3%
- FICO 620
- Low income
- First-time or repeat home buyers
- Homeowner education helps to understand and manage the long-term financial commitments of homeownership

Conventional

- Loan amounts up to $647,200
- A conventional loan can be used to finance a property in a high-cost area
- 15-, 20-, 25- & 30-year fixed rate
- Down payments as low as 3% depending on loan amount


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August 07, 2022
Current date

Submission cutoff time is 3PM EST.

Any submission received after this time, will be considered received the next business day.

Upcoming 2022 office closures:
01.01; 01.17; 02.21; 05.30; 07.04; 09.05; 11.24; 12.26