The Super Jumbo program is a specialty product for high-net-worth borrowers with solid, stable income and credit and considerable assets for down payment, closing costs and reserves. The collateral must be a prime real estate property within a prime real estate market.
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PROGRAM HIGHLIGHTS
Loan Amounts > $3.5M to $5M
Max 70% LTV / 720 Min FICO
Max DTI 38%
Primary Residence Only
Purchase, Rate/Term and Cash Out (Max Cash Out $1.5M)
1 or 2 Years Full Doc, 24 Months Bank Statements and Asset Utilization (Assets Divided by 84 Months)
30-Year Fixed Rate or 40-Year Interest-Only
Single-Family Residence/PUD (1 Unit), Condo (Warrantable/Non-Warrantable), Max 2 Acres
U.S. Citizen, Permanent and Non-Permanent Resident Aliens
Flex Supreme is at the top of the NQM Funding programs waterfall offering the best pricing for the most qualified borrowers who do not have any credit challenges and possess very stable employment, income and assets history.
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PROGRAM HIGHLIGHTS
Loan Amounts From $150K to $3.5M
Max 80% LTV / 680 Min FICO / Max DTI 50%
40-Year, 30-Year and 20-Year Fixed-Rate MortgageTerms
OO and Second Home Only
Purchase, Rate/Term and Cash Out (Max Cash Out $1M)
1 or 2 Years Full Doc and Alt Doc: 12 or 24 Months Bank Statements, 2 Years 1099, Asset Utilization
Single-Family Residence/PUD, Condo (Warrantable Only), 2-4 Units, Max 10 Acres
U.S. Citizen, Permanent Resident Aliens and Non-Permanent Resident Aliens
The 2 month bank statement loan product is a game-changer for self-employed borrowers. Instead of the traditional documentation, your borrowers can qualify using a 12 or 24 month P&L plus 2 month bank statements. Does your borrower want cash out? There’s great flexibility based on the LTV. And the best part? It works for a variety of properties, from single-family homes to condos, and even some rural spots. It’s a flexible and accommodating option for those who march to the beat of their own drum.
Need a 2 Month Bank Statement loan scenario review?
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PROGRAM HIGHLIGHTS
Max 90% LTV / 640 Min FICO
> 85% LTV With 760 FICO to Max $1.5M
Loan Amounts From $125K to $3.5M
Purchase, Rate/Term and Cash Out
OO, Second Home, NOO (Business Purpose)
1 or 2 Years of CPA/EA/PTIN-Prepared P&L With Min 2 Months Bank Statements
U.S. Citizen, Permanent and Non-Permanent Residents
The 2-1 buydown loan program offers a fantastic way for your borrowers to secure a mortgage with a temporary interest rate reduction. For the initial two years, your borrowers benefit from decreased rates, creating a smoother start to their homeownership journey. By the third year, the rate settles to match the standard loan rate. Think of it as an introductory deal for a mortgage, helping your borrowers transition comfortably into their payments. An ideal choice for clients who appreciate upfront savings and have a clear future plan!
Need a 2-1 Buydown loan scenario review?
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PROGRAM HIGHLIGHTS
Up to 80% LTV / 680 Min FICO
Add-on Feature to Full Doc, Alt Doc or DSCR 1–4 Units Programs
Purchase Only
OO, Second Home, NOO
30-Year Fixed-Term Only, Seller- or Builder-funded Only, Lender-Paid or Third Party Buydowns Are Permitted for CORR Clients Only – Qualify off Full Payment (Note Rate)
U.S. Citizens, Permanent and Non-Permanent Residents
The 2nd lien loan program is tailored for those seeking flexible financing solutions. It allows your borrowers to tap into up to 85% CLTV, with loan amounts ranging from $125K to $500K. Whether they’re eyeing a new purchase or considering a cash-out, this program has them covered. It’s versatile, catering to both owner-occupied and second homes. Plus, with a minimum FICO of 680, it focuses on the primary wage earner’s middle score for qualification. And to add a cherry on top, the program offers the choice of full documentation or alternative docs like bank statements and 1099s. Your borrowers can confidently step forward, knowing mortgage lates won’t hold them back.
Need a Flex Select Prime 2nd Lien loan scenario review?
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PROGRAM HIGHLIGHTS
Up to 85% CLTV / 680 Min FICO
Loan Amounts From $125K to $500K
0x30x24 Mortgage History
Purchase, Rate/Term and Cash Out
OO and Second Homes
2 Years Full Doc or 2 Years Alt Doc (Bank Statements, 1099 or P&L With 2 Months Bank Statements)
U.S. Citizens, Permanent and Non-Permanent Resident Aliens
The ITIN/Foreign Nationals Full Doc program is specially crafted for international borrowers, offering them a clear path to financing in a foreign landscape. Your borrowers, whether holding an ITIN or being foreign nationals, can navigate the loan process seamlessly with comprehensive documentation. This program removes the barriers often faced by international applicants, ensuring they have the same accessibility and ease as local borrowers. It’s the perfect bridge for global clients seeking a foothold in a new financial environment.
Need a Foreign National Full Doc loan scenario review?
If you have a client scenario that you would like our team to review, please use our simple prequal submission form.
PROGRAM HIGHLIGHTS
Up to 75% LTV With Full Doc / 70% LTV With DSCR
700 Min FICO (U.S. Credit) or Foreign Credit (No Score)
Loan Amounts From $150K to $3M+
Second Homes and NOO (Business Purpose)
Income Types: 2 Years Full Doc, Asset Utilization and DSCR
Purchase, Rate/Term and Cash Out
Property Type: Single-Family Residence, 2-4 Units, Warrantable and Non-Warrantable Condo, Condotel and Short Term Rental Financing – May Use AirDNA
The Investor DSCR Mixed Use loan program is an investor’s dream come true for mixed-use properties. Here’s why: It grants up to a generous 75% LTV with loan amounts spanning from $250K right up to $3M, making it suitable for a range of investments. Tailored for non-owner-occupied business endeavors, this program is distinctive in its 1:1 DSCR requirement. Your borrowers just need to demonstrate a year of hands-on experience within the last three years in either commercial or residential real estate management. With a FICO score starting at 660, it prioritizes the lowest middle score among all borrowers for qualification. And the cherry on top? Whether your clients operate under an LLC or Corporation, they can vest the title at closing, provided there’s a Natural Person involved. Plus, it’s not just limited to US persons; foreign nationals can also jump aboard. A comprehensive and inclusive solution for mixed-use property investments!
Need a No Ratio Investor loan scenario review?
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PROGRAM HIGHLIGHTS
Up to 75% LTV / 660 Min FICO
Loan Amounts From $250K to $3M
Purchase, Rate/Term, Cash Out
Min DSCR = 1.00
LLC or Corporate Title Vesting at Closing Eligible With Natural Person
U.S. Citizens, Permanent and Non-Permanent Residents and Foreign Nationals
This investment loan program offers an elegant blend of flexibility and robust features, catering specifically to the discerning investor. It allows for streamlined income verification through market rent or lease agreements, highlighting its commitment to ease and efficiency. The inclusion of a 2/1 temporary buydown reflects its adaptability to different financial strategies. Furthermore, its diverse DSCR options, coupled with provisions for properties listed on platforms like AirDNA, emphasize its relevance in today’s dynamic investment landscape. With a foundational FICO requirement of 640 and an accommodating LTV threshold, this program is both inclusive and prudent. It is complemented by versatile property type options and judicious financial provisions, solidifying its position as a premium choice for serious investors.
Need a No Ratio Investor loan scenario review?
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PROGRAM HIGHLIGHTS
Up to 85% LTV on Purchase of 1 Unit (Single-Family Residence/PUD), 720 Min FICO
Loan Amounts From $150K to $3M+
Purchase, Rate/Term and Cash Out
DSCR Options: ≥ 1.00, ≥ 0.75 to 0.99 or No Ratio
No Ratio: 700 Min FICO, Purchase and Rate/Term 75% LTV and Cash Out 65% LTV
3 Years Seasoning From U.S. Credit Events
Condotels and Short-Term Rental Financing Available
Foreign National Available Using the Foreign National Program
The “Asset Depletion / Utilization” Non-QM program is designed for asset-rich borrowers, providing an attractive LTV of up to 90% across diverse property types. It maximizes the value of your borrowers’ liquid assets, offering 100% credit for checking and savings, and effectively accounting for their investments in stocks, bonds, and retirement accounts. With a straightforward FICO requirement of 640 and a flexible approach to recent credit events, it streamlines the lending process. Importantly, its wide-ranging inclusivity embraces both US Persons and ITIN holders, ensuring you have a compelling, asset-centric mortgage solution to offer your borrowers.
Need an Asset Utilization / Depletion loan scenario review?
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PROGRAM HIGHLIGHTS
Up to 90% LTV / 640 Min FICO
Loan Amounts From $125K to $3.5M
Purchase, Rate/Term and Cash Out
OO, Second Home, NOO
Qualified Assets: 100% Credit of Checking, Savings and Money Market; 80% Stocks and Bonds; 60–70% of Retirement Accounts
U.S. Citizen, Permanent and Non-Permanent Residents, ITIN
Provides the Self -Employed Borrower options on what documents will best tell their financial story. Utilizing either Business bank statements, Personal bank statements, 1099 or P&L with or without bank statements to qualify. When the agency route just won’t work for your borrowers specific scenario, our Select Alt Doc loan is a perfect alternative.
Need a Select Alt Doc loan scenario review?
If you have a client scenario that you would like our team to review, please use our simple prequal submission form.
PROGRAM HIGHLIGHTS
Up to 90% LTV
640 Min FICO
Loan Amounts From $125K to $3.5M+
Purchase, Rate/Term and Cash Out
OO, Second Home, NOO
1 or 2 Years Bank Statements,1099, P&L With 2 Months Bank Statements, P&L Only, Tip Income (WVOE Plus 2 Months Bank Statements) or WVOE and Asset Utilization
Less Seasoning on Recent Credit Events
U.S. Citizen, Permanent and Non-Permanent Residents, ITIN
This information is intended for the exclusive use of licensed real estate and mortgage lending professionals in accordance with all laws and regulations. Distribution to the general public is prohibited. Rates and programs are subject to change without notice.
