For borrowers with significant eligible assets that can't qualify with traditional documentation
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Dedicated operations & simplified process flow
Focused on qualifying your toughest borrowers
Delivering positive lending experiences
We focus solely on your non-agency/non-QM loans!
SmartFunds was designed to provide attractive financing for borrowers qualifying with assets only. It features loans up to $3M, with no employment, income or tax documentation required!
Net residual assets > 60 months of total monthly obligations + reserves
LTVs up to 90% for Purchase & Rate/Term and up to 85% Cash Out – No MI
Primary residences and second homes (no NOO)
Borrower can own up to 15 financed properties
Reserves waivable on Rate/Term with the <$1.5M loan amount, 0x30x12, and decreasing housing payment
No pre-payment penalty
No DTI calculation
30 yr Fixed, 10/1, 7/1, 5/1 ARMs – all with optional Interest Only; Fixed 40 yr Interest Only option
Here's how it works:
Simply put, we add up all their eligible assets and subtract the entire loan amount and closing costs. Then we compare that to their total monthly obligations over 5 years plus reserve requirements. If qualifying assets are greater than their total obligations and reserves, they qualify.
Refer to guidelines to determine which assets may be used and to what extent.
Find the forms and information you need, any time you need to access them.