NEWREZ NICHES

Our Smart Series, a full suite of non-QM solutions, ensures that home buyers who have unique financing needs have access to unique mortgage solutions that meet their specific needs.

SMARTSELF

A non-QM solution, SmartSelf is ideal for borrowers requiring the use of bank statements and/or asset amortization to qualify.

 

HIGHLIGHTS:

  • 660 minimum credit score
  • 90% loan-to-value (LTV) for primary residence
  • 80% loan-to-value (LTV) for primary residence
  • 50% maximum debt-to-income ratio (DTI)
  • Available for loan amounts up to $3M
  • 12 or 24- month bank statement options
  • No tax returns or tax transcripts required
  • $500,000 maximum cash in hand for primary residences and second homes cash in hand
  • Only 2-4 years seasoning for serious derogatory credit events
  • 30-year fixed rate
  • 30-year fixed rate interest only
    • 10-year interest only period

SMARTVEST

A non-QM solution, SmartVest is designed for experienced real estate investors seeking to purchase or refinance an investment property that is owned for business purposes.

 

HIGHLIGHTS:

  • 640 minimum credit score
  • 80% loan-to-value (LTV) for purchases and rate and term refinances
  • 75% loan-to-value (LTV) for cash-out refinances
  • Available for loan amounts up to $2M
  • Debt-to-income ratio (DTI) not calculated – use cash flow analysis
  • Borrower is qualified based upon the cash flow of the subject property
  • No tax transcripts or tax returns required
  • Debt Coverage Ratio
    • Purchase and rate and term refinances = 1.0
    • Cash-out refinances = 1.15
  • Up to 20 financed properties allowed
  • 30-year fixed rate
  • 30-year fixed rate interest only
    • 10-year interest only period

SMARTEDGE

A non-QM solution, SmartEdge offers competitive financing solutions for borrowers who fall just outside of standard agency and prime jumbo programs due to a credit event or other isolated lapse in their credit performance.

 

HIGHLIGHTS:

  • 660 minimum credit score
  • 90% loan-to-value (LTV) for primary residence
  • 85% loan-to-value (LTV) for primary residence
  • 50% debt-to-income ratio (DTI)
  • Available for loan amounts up to $3M
  • Asset amortization/depletion may be used to qualify
  • Only 2-4 years seasoning for serious derogatory credit events
  • Purchase, rate and term and cash-out, refinance options available
  • 30-year fixed rate and interest only options
  • 5/1, 7/1, and 10/1 adjustable-rate mortgage options

RESOURCES

Find the forms and information you need, any time you need to access them.
Client Library
Order Appraisals
Submission Form