Alt Doc = 24 Month Personal or Business Bank Statements / Self-Employed Only
Maximum Debt-to-Income Ratio
50% Back End
Loan Terms
30-Year Amortized & Term – 7/1 Hybrid ARM or 30-Yr Fixed
All Loans require impounding for Taxes & Insurance
Index & Adjustment Caps
Floored at Start Rate / 1-Year CMT
2% Initial Change Cap / 2% Annual Cap / 6.0% Life Cap
Occupancy
Owner / Non Owner / 2nd Home
Loan Amounts
$75,000 Minimum to $3,000,000 Maximum
Loan Amounts >$1.0M Require Management Approval
Loan Amounts Greater than $1.5M require Two (2) Appraisals
Property Types
SFR / Condos / Townhouse / 2-4 Units
Condotels – Must be in Resort Area
Non-Warrantable Condos
Rural Properties are available