The Right Niches at the Right Time!
We’re still doing loans in declining markets, while other lenders have run scared!
- Super competitive I/O’s. Awesome fixed rates, and still offering Option ARMS/Hybrids.
- We qualify debt ratio on the Interest Only payment, not the fully amortized payment!
- LOAN AMOUNTS TO $ 3 MILLION!!!
- Only 1 appraisal required for loan amounts to $ 3 Million.
- Up to 45% DTI allowed on owner occupied properties 80% LTV and below with 680 FICO
- 2×30 Mortgage late’s allowed in the last 24 months, 0×30 in the last 12 months.
- 12 months bank statements as Full documentation for self employed borrowers.
- For Asset verification on Full Doc, we only require 2 Months bank statements to verify 2-4 months PITI, principle, tax and ins.
- Gift equity allowed for full doc purchases ( NO MONEY DOWN )
- Permanent Financing out of Construction loans considered a rate & term and not cash out!!!
- Full Doc on 1-4 Units Investment properties to 70%. No limit on amount of properties FINANCED by 1 investor.
- Borrowers can finance up to a total of 4 properties with Downey or up to $ 2 Million total in loans. ( ask for more details )
- No Seasoning required for R/T refinances, one day on title, one day out of purchase. WE TAKE CURRENT APPRAISED VALUE!!!
- Payoff of seasoned 2nd TD considered R/T(must be 12 months old, draws with the last 12 months okay)
- Non-occupying co-borrowers can help you qualify (blend ratios)
- Non-Applicant spouse income can help you qualify regardless of their FICO score
wow..there is a lot of good useful information here..