FOREIGN NATIONAL - eprmg.net

FOREIGN NATIONAL July 1, 2015 Interest Rate: (Rate quoted 7/1 ARM) Max LTV: 75% GENERAL INFORMATION FOREIGN NATIONAL Definition: Citizens of FOREIGN countries who do not reside or work in the United States Eligible Visas: B-1, B-2, H-2, H-3, I, J-1, J-2, O-2, P-1, and P-2 Product Type: 7/1 YR ARM Rate Adjustments (Loan Amount) Loan Amounts $417,000 = .25 Rate Reduction Loan Amounts < $130,000 = .25 Rate Add 30-Year Fixed: .25 Rate Add GENERAL REQUIREMENTS 7/1 YR ARM Index: 1- YR Libor Margin: 5% Caps: 2-2- 5 Floor: 5% Appraisal Review Product: Required for Loans $417,000 All refinances Cash Out: Up to $100,000: To program LTV s $100,001 - $200,000: LTV 5% reduction $200,001 - $300,000: LTV 10% reduction Add to rate Compliance: Escrows required for taxes and insurance Compliance with all applicable Federal and State regulations Debt Ratio: 50% Loan Amounts Loan Amount Minimum: $75,000 Loan Amount Maximum: $750,000 (Contact your AE for higher loan amount exceptions) Prepayment Penalty: 2- year prepay penalty: 6 months interest based upon 80% of the unpaid principal balance May be bought out at.

• Citizens of foreign countries who do not reside or work in the United States

Loading..

Tags:

  Foreign, National, Foreign nationals

Information

Related search queries