Personal, business, or combined bank statements
Min. 3 months of reserves
Concierge Service for income calculation
Min. FICO 620 or no score; for I/O Min. FICO 680 & FTHB no allowed
Up to 90% СLTV purchase / Up to 80% СLTV cash-out
Up to $4 million purchase / Up to $3 million cash-out
Cash-in-hand: No limitation for CLTV <55% & min FICO 680; $1,000,000 for CLTV from 55% to 65% or CLTV>65 & min FICO 700 or CLTV <=55 & FICO <680; $500,000 for CLTV >65% & FICO <700
12/24 month bank statement; 100% deposits for personal, 50% standard expense ratio for business, can be lowered with a third-party prepared Business Expense Letter or P&L Statement
Up to 55% DTI on owner-occupied
Primary, second home, investment
25% of business ownership required
Gift Funds for closing costs and down payment allowed
0 x 60 x 12, 0 x 30 x 12, 0 x 90 x 24
Credit event: 12 months from bankruptcy or foreclosure
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotels, 2-4 units, PUD, short-term rentals, SFR rural, leasehold
Various fixed terms, 5/6 & 7/6 ARM terms
120 months of I/O period, 240/360 months of amortization, qualified at amortized PITIA payment after I/O period
Eligible citizenship: U.S. citizens, Permanent Residents, Non-Permanent Residents, ITIN
Eligible borrowers: Individuals, LLCs/Corp without a hit
