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Non Qualified Mortgage

The hard money loan will then be refinanced with a lower rate & longer term permanent financing. Essentially, hard-money loans "bridge" the gap for the investor until permanent financing becomes available or the property is sold.`

Foreign Nationals
1099
Profit/Loss Statement
12 or 24 Month
Bank Statement
Asset utilization
DSCR Program and No Ratio DSCR

BANK STATEMENTS

Min 620 FICO - Up to 90% LTV

  • No tradeline requirement w/3 credit scores
  • Business or personal 50% standard expense; up to 90% w/ CPA letter
  • Non-Perm up to 90% LTV
  • Unlimited Cash in Hand
  • Cash-out used for reserves
  • SFR, Condotels, Condos, 2-4
  • Loan amounts up to $4m
  • 1 Day Credit Event Seasoning

P&L ONLY

Min 660 FICO - Up to 80% LTV

  • No tradeline requirement w/3 credit scores
  • No bank statements
  • 12 or 24 months accepted
  • Non-Perm up to 80% LTV
  • Unlimited Cash in Hand
  • Cash-out used for reserves
  • SFR, Condotels, Condos, 2-4
  • Loan amounts up to $4m

ASSET UTILIZATION

Min 620 FICO - Up to 90% LTV

  • No tradeline requirement w/3 credit scores
  • Non-Perm up to 80% LTV
  • Unlimited Cash in Hand
  • Cash-out used for reserves
  • SFR, Condotels, Condos, 2-4
  • Loan amounts up to $4m
  • 100% of checking, savings, & money market; 70% of stocks, bonds, mutual funds
  • Divide by 84

1099 ONLY

Min 620 FICO - Up to 90% LTV

  • No tradeline requirement w/3 credit scores
  • 1 or 2 years - 1099 or transcripts
  • 12/24 month average minus expense ratio
  • Non-Perm up to 80% LTV
  • Unlimited Cash in Hand
  • Cash-out used for reserves
  • SFR, Condotels, Condos, 2-4
  • Loan amounts up to $4m

DSCR

Min 640 FICO - Up to 80% LTV

  • No deposit sourcing
  • No DSCR Ratio up to 75% LTV
  • No tradeline requirement w/3 credit scores
  • $1,000,000 cash in hand
  • SFR, Condotels, Condos, 2-4, 5-8
  • 2 months reserves
  • Cash-out used for reserves
  • AIR DNA income accepted
  • Loan amounts up to $3.5m
  • Unlimited 30 days lates allowed
  • Vacant properties allowed

FOREIGN NATIONAL

No FICO or 680 - Up to 75% LTV

  • No deposit sourcing
  • No DSCR Ratio up to 75% LTV
  • No tradeline requirement w/3 credit scores
  • $1,000,000 cash in hand
  • SFR, Condotels, Condos, 2-4, 5-8
  • 2 months reserves
  • Cash-out used for reserves
  • AIR DNA income accepted
  • Loan amounts up to $3.5m
  • Unlimited 30 days lates allowed
  • Vacant properties allowed