Brokers

Program Highlights

LTV's up to 75% on a case-by-case basis (LTVs will vary by state.)

Debt ratios-must show ability to pay of LTV is greater than 60%

Income documentation

full doc - 18 months bank statements

lite doc - 6 months bank statements

No doc- available case-by-case

property type: single family town homecondo 1-4 units, mixed-use

owner and non-owner occupied properties acceptable

cross-lien multiple properties

cash out on a case-by-case basis

Other assets used as collateral: stocks, bonds,CDs, etc.

Only lien affecting title must be paid

subordination of tax liens and second mortgage accepted

Underwriting Thought Process

What has changed that will allow the borrower to pay?

When was the last mortgage payment made, and how quickly did they default?

What is the degree of payment shock with the new loan?

How many times has the borrower(s) refinanced their way out of foreclosure?

How much of the last loan was used for cash-out, and how much was used to consolidate debts?

Is there a subordinate lien? How much? What is the CLTV?

We will require our own valuation with interior pictures. We are not concerned with D/Is or credit scores! We close loans that make sense!

Chapter 13 Loans

When your client is in chapter 13, don't waste time call now!

This aggressive new financing program is designed to help borrowers in Chapter 13 by offering them reduced pricing and a second change to improve their credit concerns.

Credit Grade Max LTV

B 75%

Paid bankruptcy plan and mortgage payments as a greed for 24 months

cash-out permitted.

Credit Grade Max LTV

C 70%

Paid bankruptcy plan and mortgage payments as

agreed for 12 months cash-out permitted.

Credit Grade Max LTV

D 65%

In chapter 13 for less than 12 months and/or has not made plan

payments or mortgage payments as agreed cash-out permitted.