Program Overview
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DSCR
Bank Statement
1099
P&L
Asset Util.
Asset Depletion
WVOE
Rental Income
Full Doc
| Feature | DSCR | Bank Statement | 1099 Reduced Doc | Profit & Loss | Asset Utilization | Asset Depletion | WVOE | Rental Income | Full Doc |
|---|---|---|---|---|---|---|---|---|---|
| Best For | Real Estate Investors | Self-Employed | Contractors | Self-Employed | High Net Worth / Low Income | High Net Worth / Low Income | W2 Employees | Additional income needed | Traditional Income Review |
| Max Loan Amount | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 | $5,000,000 |
| Min Loan Amount | $200,000 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 | $150,000 |
| Min FICO | 680 | 680 | 680 | 680 | 680 | 680 | 680 | 680 | 680 |
| Max LTV | 80% | 90% | 90% | 90% | 90% | 90% | 80% | 90% | 90% |
| Max DTI | No DTI See Guidelines | 50% | 50% | 50% | No DTI See Guidelines | 50% | 50% | 50% | 50% |
| Short-Term Rental | Y | Y | Y | Y | Y | N | N | Y | Y |
| Interest Only | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Fixed Rate | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Adjustable Rate | Y | Y | Y | Y | Y | Y | Y | Y | Y |
| Subordinate Financing | N | N | N | N | N | N | N | N | N |
| Occupancy | Investment | Primary 2nd Home Investment | Primary 2nd Home Investment | Primary 2nd Home Investment | Primary 2nd Home Investment | Primary 2nd Home | Primary | Investment | Primary 2nd Home Investment |
| Property Types | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel | SFR / PUD 2–4 Unit Warrantable Condo Non-Warrantable Condo Condotel |
| Transaction Types | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi | Purchase Rate-Term Refi Cash-Out Refi |