Non-QM Solutions

SMARTVEST

<p>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.</p> <p> </p> <p>HIGHLIGHTS:</p> <ul> <li>640 minimum credit score</li> <li>80% loan-to-value (LTV) for purchases and rate and term refinances</li> <li>75% loan-to-value (LTV) for cash-out refinances</li> <li>Available for loan amounts up to $2M</li> <li>Debt-to-income ratio (DTI) not calculated – use cash flow analysis</li> <li>Borrower is qualified based upon the cash flow of the subject property</li> <li>No tax transcripts or tax returns required</li> <li>Debt Coverage Ratio <ul> <li>Purchase and rate and term refinances = 1.0</li> <li>Cash-out refinances = 1.15</li> </ul> </li> <li>Up to 20 financed properties allowed</li> <li>30-year fixed rate</li> <li>30-year fixed rate interest only <ul> <li>10-year interest only period</li> </ul> </li> <li>5/6, 7/6, and 10/6 adjustable-rate mortgage options</li> </ul>
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SMARTEDGE

<p>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.</p> <p> </p> <p>HIGHLIGHTS:</p> <ul> <li>660 minimum credit score</li> <li>90% loan-to-value (LTV) for primary residence</li> <li>85% loan-to-value (LTV) for primary residence</li> <li>50% debt-to-income ratio (DTI)</li> <li>Available for loan amounts up to $3M</li> <li>Asset amortization/depletion may be used to qualify</li> <li>Only 2-4 years seasoning for serious derogatory credit events</li> <li>Purchase, rate and term and cash-out, refinance options available</li> <li>30-year fixed rate and interest only options</li> <li>5/6, 7/6, and 10/6 adjustable-rate mortgage options</li> </ul>
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