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Easy Documentation
Effective Date: August 15th, 2022 FICO/LTV/CLTV ELIGIBILITY MATRIXRESTRICTIONSD ocumentation TypeFICOP urchaseRate/TermCashoutLoan Amount LimitsMin. FICOP urchaseRT/Cash OutFull Documentation700+908080> 2,500,0006807065(1 or 2 Year Tax Returns)680 - 699858080> 2,000,0006807065(1 or 2 year 1099's)660 - 679807575> 1,500,0006208075 Alternative Documentation640 - 659757070<= 1,500,0006008580(12 or 24 Month Bank Statements)620 - 63975707012 Month Income6208580(12 or 24 Month Profit and Loss w/ Bank Stmts.)600 - 6197065602nd Home / Investments6208075(Asset Utilization)580 - 599N/AN/AN/APRODUCT OVERLAYSPRODUCT TYPESM inimum Loan Amount$100,000 Program NameOverlayI/O PeriodAmortizationMaturityMaximum Loan Amount$3,000,000(EC15) 15 YEAR FIXED EXCELERATE--15
Impounds • Escrows are required on HPML loans • HPML not applicable to Investments Seasoning/History: Purchase/RT Cash Out: Forbearance • Payments must be documented by canceled checks or bank statements • Paid as agreed (Current) Forbearance 3+ Months 80%: 70% Non-Arms Length Transactions • Primary Residence • Max LTV 80% ...
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