Sub Prime Loans

Sub Prime Loans

Area of Lending:
CA, AZ, OR, ID, CO, UT & TX only. (No O/O refinances in TX)

Property Types:

• SFR’s
• Condos
• Townhouses
• 2 to 4 Units

Property Condition:
Property must show “Pride of Ownership”
See Hard Money product for properties that have deferred maintenance.

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Loan Terms:
All loans are 5 year interim fixed variable rate 30 year fully amortized product.
Index: 6 month Libor

Margin: 7.95%

Caps 2/1/4
Floor = Start Rate

Loan Amounts: $50,000-$750,000
Debt To Income ”DTI”: Gross Monthly Income
Max DTI:

• Under $2,000 35% $2,001 –
• $2,500 40% $2,501
• $4,000 45%
• Over $4,000 50%

Income Documentation:

• Full Doc – W – 2 & Paystub, 1040’s or 24 months Personal BS or Asset depletion

• Alt Doc 12 months personal bank statement, Asset depletion, 101% of loan amount.

Down Payments:
Down needs to be Sourced & Seasoned for 60 days

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