– Income is acknowledged and never verified.
– Purchase, rate and term, or cash out refinance. Undocumented aliens with ITIN numbers are not allowed underneath this program.
– Documented skill to repay could also be applicable beneath certain scenarios.
– US residents, everlasting resident aliens, and overseas nationals with legitimate passport and US visa are allowed.
– $5,000,000 most loan quantity.
– 500 minimal credit score score required.
– Up to 65% mortgage-to-worth for money-out refinances (see pointers).
– SFR, PUDs, condos, townhouses, and 2-four models allowed.
– Owner-user, second dwelling or funding properties.
– Mixed-use residential property with commercial influence allowed on case-by-case basis.
– $100,000 minimum loan amount.
– Up to 70% mortgage-to-worth for purchases and price/time period refinances (see guidelines).
– No reserves required.
– All loans require impounding of property taxes and hazard insurance coverage. – Property must be situated within the State of California.
– No prepayment penalty.
To obtain underwriting tips
for our hard cash mortgage program:
– Accessible as a 5/1 ARM or 7/1 ARM solely, amortized over 30 years.
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