The Alternative A, or Alt-A mortgage, has several characteristics that set it apart from the more restrictive requirements of Fannie Mae and Freddie Mac. This includes higher LTV ratios, lower down payments, and higher accepted DTI ratios. As qualified as they are, some borrowers may face just a couple of factors holding them back from getting a conforming loan.
LendSure knows these borrowers represent good credit risks. Also referred to as “superprime” clients, they have proven themselves to be credit-worthy and highly unlikely to simply stop paying.
Recognizing the unique circumstance of these borrowers, LendSure’s Super Prime/Alt-A program offers highly competitive rates, unsurpassed funding times, and loan options that are not available with conventional lenders. Through this loan program, borrowers who may have a unconventional circumstances are given a better chance of qualifying for a loan.
Our team of non-QM specialists are well-versed in the use of alternative documentation to qualify borrowers for mortgages. We offer loans based on their unique circumstance, including Full Doc, Full Doc Self-Employed, Asset Depletion, Foreign Income, 12-Month or 24-Month Bank Statements.
More program highlights:
- Up to 90% LTV
- No adders for Fixed-Rate loans
- Loan amounts as high as $3,000,000
- Cash-Out up to $1,000,000
- 10/40 Interest Only options available
- Financing options for non-warrantable condos and condotel
- Lender and broker points can be financed into the loan by stacking an additional 2% LTV without a pricing bucket change (up to a max LTV of 87%)
There are many reasons for loan officers to consider adding LendSure’s Super Prime/Alt-A mortgages to their offerings. For starters, rates have jumped in recent months, which has substantially reduced rate-and-term refinances. What’s more, first-time buyers have been struggling with soaring home prices. Alt-A borrowers can keep your pipeline full in uncertain times.
Contact your LendSure Account Executive to discuss your loan deal today.
