Residential mortgage loan means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling (as defined in section 103(v) of the Truth in Lending Act, 15 U.S.C. 1602(v))

• Loans up to $2 million, Minimum loan of $75,000

• Qualification based on property cash flow

• No personal income or employment information required

• Properties can be in LLC’s name

• No limit on total number of properties

• Borrower must own primary residence

• Purchase and cash-out or rate-term refinance

• 30 year interest only available

• Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained.

• Non-warrantable Condos now allowed

• Condotels now allowed (contact your local account executive for eligibility requirements)

• Minimum loan amount of $75,000

• Maximum loan amount of $1.5 million

• A DSCR program with a 1:1 ratio on cash flow

• Assets sourced and seasoned for 60 days - must be in a U.S. FDIC insured bank for a minimum of 30 days

• 12 months reserves required

• Closing in a U.S. LLC entity is permitted

• ACH auto-payment is required

• No sanction listed countries allowed and will not lend in Osceola County

• Cannot reside in the United States

• Must have an eligible Visa: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2

• No gift funds allowed

• Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained

• Loans up to $2.5 million, Minimum loan of $125,000

• One year seasoning for foreclosure, short sale or deed-in-lieu 

• Two years seasoning for bankruptcy, can use chapter 13 filing date

• Purchase and cash-out or rate-term refinance

• Primary home only (One unit only)

• Non-warrantable condos allowed

• Up to 50% DTI

• Loans up to $3 million with a minimum of $150,000

• 12 or 24 months business or personal bank statements

• Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu

• Rates are 30-year fixed

• Two years self-employed required

• Borrowers can own as little as 50% of the business for business bank statements and 25% for personal bank statements

• Purchase and cash-out or rate-term refinance

• Owner-occupied, second homes, and non-owner occupied

• 1099 option available

• 40 year interest only available

• Most loans will be qualified on an expense factor of 50%. Companies with a lower expense factor will require a statement from a third party CPA or tax preparer. (Some industries with traditionally higher expense factors will be underwritten with a 70% expense factor.)

• Loan amounts greater than or equal to $1,500,000, a borrower paid second appraisal must be obtained

• Non-permanent residents allowed