Investor ProgramFlexible terms & qualifying standards
Our Investor product offers potential borrowers rates closer to prime than traditional hard money loans. Borrowers can qualify with flexible terms, including using rental property cash flow or debt service coverage ratio (DSCR), for example. No income qualifying is required. The Investor mortgage is ideal for borrowers who don’t want to provide personal income documentation, or are unable to qualify using traditional debt-to-income (DTI) ratios.
- The Investor matrix has been expanded and updated to allow increased loan amounts (up to $2.5m) and decreased FICO requirements (down to 680 for a Cash Out Refinance)
- Delayed Financing option is now treated and priced as a Rate & Term Refinance transaction
- All transactions with a LTV ≤ 60% now require only 3 months reserves
- Appraisal age is limited to 120 days max – Recerts of value are no longer permitted.
- Borrowers who have had a recent forbearance are now eligible as long as they now meet FNMA forbearance reinstatement requirements
- Non-Permanent Resident Aliens: the Visa expiration date has been revised from 3 years to 1 year with additional overlays – see guidelines for specifics.
- Vested Retirement accounts can now be qualified at 80% of the value for closing/reserves.
- Business Funds – guidance has been updated to no longer require a minimum percentage of ownership in order to utilize the funds as qualifying assets towards closing/reserves.
- Cash out proceeds can now be used towards the reserve requirement
- Cryptocurrency is eligible to be used for closing funds and reserves as long as FNMA requirements are met.
- Non-Warrantable Condos are now eligible again up to a max 65% LTV
- Mixed Use property guidance has been added and defined.
Investor Borrowers who either do not wish to provide personal income documentation, or are unable to qualify using traditional debt-to-income (DTI) qualifying.