Investor Low Doc
Our “Low Doc” program is designed for experienced investors and is streamlined so that paperwork is
minimized and the closing process is expedited. Tax returns and fi nancial statements are not required.
Owner-occupancy is allowed up to 50%. Multi-family and properties that require minor construction
provisions are now eligible.
| Program Highlights |
| Max 1st Mortgage loan amount |
|
$3,000,000 |
| Purchases to |
|
80% LTV |
| Refi nance to |
|
75% LTV |
| Cash out to |
|
70% LTV |
| Combined LTVs to |
|
90% |
Qualifying Parameters
- Borrower provides evidence of at least 2 years of investment real estate ownership experience within the past 5 years
- .Borrower completes our 5-page Investor application
- .Minimum 640 average credit score and 600 individual score(s)
- .Minimum 680 average credit score for purchases at 80% LTV and 660 for refinances at 75%
- .LTV and cash out at 70% LTV
Program Options
- Ineligible property types and business uses including auto repair shops, contractoe yards, dry cleaners and convenience.
- Preferred pricing for lawer LTV loans
- Fixed and Hybird interest rate options
- Fully Amortizing 30-year term
- No call provisions or ballons payments
- Multiple prepayment penalty options
- Ability to prepay up to 10% of principal within any rolling 12-month period without prepayment premium