| Loan Purpose: |
Permanent first mortgage for acquisition and refinance
|
| Loan Amount: |
$250,000 minimum
$2,000,000 maximum |
| Loan Term: |
3-month LIBOR, 2-year Hybrid, 5-year Hybrid, 7-year Hybrid and 30-year Fixed
|
| Amortization: |
30 years |
| Loan to value: |
Up to 70% |
| Subordinate Financing: |
Not allowed |
| DSCR: |
1.5 global
|
| Prepayment: |
5% prepay months 1-60. Other prepay options are available
|
| Funding: |
45 days within receipt of complete application
|
| Application Requirements: |
1003 Application
Platinum Supplement
|
| Credit Score: |
Minimum 680 middle score
|
| Lending area: |
Nationwide (excluding Alaska & Hawaii)
|
