SELF EMPLOYED CASH OUT LOAN PROGRAM
LOW CREDIT SCORE PROGRAM
INVESTEMENT PROPERTY CASH OUT PROGRAM
REVERSE MORTGAGE PROGRAM
Purchase Owner-Occupied Product Overview :
No Tax Returns, W2s, or Paystubs
100% gift funds accepted for down payment, closing costs & reserves Max $3,000,000 Loan Amount
Lite Doc Max 80% LTV Minimum 660 FICO Borrower-Prepared P&L or QB VOE Max 50% DTI
No Ratio Max 75% LTV Minimum 680 FICO No Income or Employment Stated / Verified No DTI Calculated
Asset Utilization Max 75% LTV Minimum 660 FICO No Employment Stated / Verified Use Assets to Qualify Income Max 50% DTI
From vision to creation! The Homestyle program enables borrowers to purchase or refinance a home and include repairs or renovation costs in the same loan. If your borrowers are envisioning their dream home, this is the program to make it a reality.
Common HomeStyle uses: Funds can be used to make improvements to outdated homes, correct deferred maintenance, build an addition or modernize the floor plan. It can also be used to upgrade electrical, plumbing, roofing and increase energy efficiency. Additionally, cosmetic and luxury updates like remodeling existing bathrooms and kitchens or adding a swimming pool are allowed.
Borrowers can also build a garage, pool house, or a free-standing accessory dwelling unit (ADU).
HomeStyle Options HomeStyle Standard
Up to 95% LTV of the “as-completed” value • Up to 97% LTV for first-time buyers or a Fannie Mae retained loan refinance • 85% LTV on a 1-unit investment property, 90% on a 1-unit second home
Home Struture Types that can be RENOVATED
• Owner-occupied 1-4 units, Condos, PUDs, 1-unit second homes and investment properties .