Non-QM Program Enhancements – March 2021

Non-QM Program Enhancements

General Enhancements

  • Up to 90% LTV for First-Time homebuyer
  • No adder for 24-month Bank Statements – Pricing is the same as Full Doc!
  • No reserve requirements for:
    • Purchase loans with LTV up to 65%
      OR
    • FICO over 740 in Expanded Approval

2-Month Bank Statement Program

  • Only 2 months of Personal or Business Bank Statements needed
  • 720 Minimum FICO
  • Loan amounts as high as $2,000,000
  • LTV up to 70%
  • Must be self-employed in the same business for 2 years
  • 12 months of 3rd Party CPA prepared P&L statements required

One Year Income Doc Program

  • One year W2 + Recent Pay Stubs or one year 1099
  • LTV to 80%

DSCR

  • DSCR as low as .75
  • Up to 80% LTV for Purchase & 75% LTV for R/T or Cash-out Refi
  • No reserves required for LTV up 65% LTV and Only 3 months reserves required over 65%
  • Cash out may count towards reserves

Foreign National

  • Up to 75% LTV for purchase transactions
  • No reserves required for LTV up 65% LTV and Only 3 months reserves required over 65%
  • Cash out may count towards reserves

Condotel Loans

  • Up to 75% LTV for Purchase Loans
  • Up to 70% LTV for R&T Refinances
  • Up to 65% LTV for Cash-Out Refinances

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