Non-QM Program Enhancements – March 2021

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