| Product Description |
Residential |
Commerial |
|
| Maximum On Purchase |
65%* |
60%* |
|
| Maximum On Refinance |
60%* |
55%* |
|
| Mortgage Terms |
Up To 30 Years |
Interest Only 5 Years |
|
| Maximum Loan Amount |
$1,000,000 |
$1,000,000 |
|
| Minimum Loan Amount |
$50,000 |
$50,000 |
|
| Property Types |
SFR, 1-4 Units |
Income Producing Properties |
|
| Minimum Rate |
8.75%* |
9%* |
|
| Credit Score |
No Minimum Score |
No Minimum Score |
|
| Foreclosure, Bankruptcy |
OK** |
OK** |
|
| Prepayment Penalties |
Start at: 2% For 3 Years* |
5% For 2 Years* |
|
| Processing / Application Fee |
None |
None |
|
| Appraisal |
Not required |
Not required |
|
|
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Maximum LTV may be lower depending on property type or condition. Loan based on current market analysis report.
The information above is intended to assist Mortgage Brokers only and is not intended for public distribution pursuant to section 226.02 of Regulation Z, Truth in Lending Act. All rates, points and programs listed are subject to change at any time without notice. Mortgage Brokers must comply with applicable state and federal rules and regulations. Loan approval is subject to ability to repay, clear title, clear environmental reports and sufficient equity in the property.