Owner Occupied | Investor
Loan Amount $50,000-$500,000
Minimum FICO 700
DTI Requirement Max 45%-50% DTI
DSCR Ratio n/a | 1.20 (some flexibility)
Max property Value $3 million
LTV Maximum 70%-standard properties
Maximum 50%-special purpose properties
Seller seconds allowed up to a maximum
CLTV of 80% on purchase transactions
Terms/ Fixed and variable fully amortizing: 5, 10, 15 year
Amortization Fixed and variable 30/5, 25/10 (balloon)
Variable rate loans may be converted to a fixed
rate at any time for a $500 conversion fee
Lines of Credit (CELOC)-evergreen term/no
expiration (in most states)
Property Types Wide Variety of eligible property types
***Minimum FICO's and Maximum LTV's may be more restrictive based on property type, overall credit worthiness of the borrower and if the property is located in a "distressed market"
***Fixed and variable loans are fully amortizing.Variable loans reamortize annually using the remaining term, current balance and prime rate then in effect/
*** Product not available in FL, IN, KY, MI, NV, OH, TN
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