MATRIX TYPE MAX LTV PURCHASE
MAX CLTV
R/T & C/O
MAX CLTV
MAX CASH
OUT
  RESIDENTIAL
NON-OWNER

COMMERCIAL
MULTI-FAMILY MIXED-USE

Exceptions Considered

65%

60%
60%

65%

80%
80%

65%

60%
60%

Unlimited

Unlimited
Unlimited
  Construction and Rehab on a case by case basis.

PROPERTY TYPES 1-4 Family homes, condos, townhouses, PUDs, mixed-use, commercial, multi-family. No manufactured or mobile homes

CLTV
85% CLTV Allowed for purchase transactions on residential properties with Seller-carry or other secondary financing. Example:  70% 1ST and 15% Seller-carry! 15% Down Payment.  80% allowed on commercial, multi-family and mixed-use properties for purchase transactions only with Seller-carry or other secondary financing.

LOAN AMOUNT RANGE Min. Loan Amount:  $100K.  Max. Loan amount: $1.5Million

EMPLOYMENT & ASSETS Employment must be disclosed for all doc types and need to state company name, phone number, and position.  Assets must be disclosed and verified for SIVA documentation types.  Assets must be stated on SISA doc type.

FICO
No FICO requirement
STANDARD DTI/DSC
NON FACTOR
MORTGAGE HISTORY
NON FACTOR
LATES
NON FACTOR
JUDGMENTS, DELINQUENT TAXES AND OTHER LIENS All Liens on title must be paid at closing or the borrower must provided evidence of satisfaction.  Title must indicate that any liens will be removed of record upon pay off of same.  Tax liens are required to be paid prior to closing or may be paid off through proceeds at closing.

BANKRUPTCY
No buy out or court approval.
FORECLOSURE Active foreclosures are not permitted.  Multiple foreclosures are not eligible.
INCOME DOCUMENTATION Full Doc, SIVA, SISA
CASH OUT RESTRICTIONS Unlimited