| Loan Purpose: |
Permanent first mortgage for acquisition and refinance
|
| Loan Amount: |
$250,000 minimum
$1,000,000 maximum |
| Loan Term: |
1 year, 2 year, or 5 year ARM's available
|
| Amortization: |
15 - 20 - 25 - 30 years
|
| Loan to value: |
Up to 80%
|
| Subordinate Financing: |
CLTV's to 90%
|
| DSCR: |
1.20 or greater
|
| Prepayment: |
24 month lockout. 5% prepay months 1-60
|
| Funding: |
45 days within receipt of complete application
|
| Application Requirements: |
1003 Application
Advantage Supplement
Signed Credit Release |
| Credit Score: |
Minimum 640 middle score for primary borrower, 600 middle score for co borrower
|
| Lending area: |
Nationwide
|
