Effective September 24, 2020: Loan Parameter Changes

To Download a PDF Click HERE

Our maximum LTV has increased to 85%, max loan size has been bumped up to $1M and we have simplified our rate sheets! The following updates apply to all new loan applications and loans in the existing pipeline that have yet to be underwritten by Credit Underwriting.

  • 85% LTV will be available as follows:
    • Meet Alt-A rate sheet guidelines for minimum trades, credit event, etc.
    • Minimum credit score of 700
    • Minimum loan amount of $75,000
    • Maximum loan amount of $510,400
    • SFOO/2nd Home/Condo (No High Rise)
    • 3 months reserves required (gifts cannot be used as reserves)
    • Not available in CA, CT, IL, NJ, NV or NY
  • 80% LTV will be available as follows:
    • Minimum credit score of 660 using the Near Miss loan program
    • Minimum loan amount of $75,000
    • Maximum loan amount of $650,000
    • Gift Funds allowed
    • Not available in CA, CT, IL, NJ, NV or NY
  • 75% LTV will be available as follows:
    • Minimum credit score of 600 for purchases and refinances
    • Minimum credit score of 640 for cash out refinance
    • No scores borrowers can qualify
    • Minimum loan amount of $75,000
    • Maximum loan amount of $1,000,000
    • Not available in IL, NJ or NY
  • Additional LTV restrictions may apply to properties located in California, Connecticut, and Nevada
  • Loans will NOT be originated/purchased if the subject property is located in Illinois, New Jersey or New York

To view our updated rate sheets, please Click Here. Should you have any questions or want to talk through a scenario, please reach out to your Account Executive.

Our Executive Leadership team will continue to monitor this very fluid situation and will send out further communications as necessary. As always, thank you for your continued trust and support.