1Y or 2Y Full Doc Non-QM
No Score or FICO 620
Up to 90% CLTV
Available on Prime, Super Prime, and Apex Prime
Our Full Doc Non-QM loans are a perfect solution for small business owners, investors, or other self-employed individuals who believe they may not qualify for a traditional agency loan.
Program features- Loan amounts up to $4 million
- DTI up to 55%
- Condos up to 85% CLTV, condotels up to 75% CLTV
- ITIN allowed
- 1 year credit event allowed
- Temporary rate buydowns available
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Program details
Loan amounts up to $4 million
DTI up to 55% on owner-occupied
Min. 3 months of reserves
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
Owner-occupied, second home, and investment properties
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
2 or 1 year traditional full documentation income
Gift funds are allowed (borrower contribution required under 80% CLTV: OO - 0%, Inv - 10%; over 80% CLTV: OO - 5%, Inv - NA) for down payment, closing costs, and reserves
Mortgage history: 0x30x12 and 0x90x24 for Super Prime, 0x60x12 for Prime
Min. 12 months out of credit event
Eligible property types: SFR, townhomes, condo warrantable/non-warrantable, condotel, 2-4 units (not available for 2nd home), PUD, SFR rural, short-term rentals, 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: US citizenship, Permanent & Non-Permanent Resident, ITIN
Eligible borrowers: Individuals, LLCs/Corp without a hit
Fast turnaround times
As fast as
24 hr
Disclosure
As fast as
24 hr
Underwriting
As fast as
48 hr