We offer jumbo stated income loans up to 70% LTV. You must have at least a 700 credit score. The minimum loan size has to be at least $417,001. We can lend up to $2,000,000 at 60% LTV. These loans are only for someone who is self-employed. We offer a 5/1 ARM and a 7/1 ARM. Rates on these programs start in the upper 4’s. We can lend on single family homes & town-homes only. For a single family home we can go up to 10 acres of land.
Borrower must have their own funds. Cash, cash equivalent securities and other readily marketable securities may be used as verified liquidity.
Liquidity minimums are calculated after closing and do not include proceeds from cash out on current loan.
Loans amount <=$650,000, minimum liquidity = $100,000
Loans amount >$650,000 to $1,000,000, minimum liquidity = $2500,000
Loans amount >$1,000,000 to $1,500,000, minimum liquidity = $500,000
Loans amount >$1,500,000, minimum liquidity = $1,000,000
Min. 3 months Bank statements for both business and personal assets must be provided
Business account assets must be discounted to 33% of current balance
Stocks, Bonds, and mutual funds must be discounted to 70% of the current balance
Borrower(s) must be of retirement age (59 1/2) in order for retirement assets to be used at 70% of the current balance. If not retirement funds must be liquidated to be used.