FOREIGN NATIONAL - eprmg.net

1 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.

2 25% in rate per year Product Type 30-year fixed Property Type: Single Family 2-4 Units Townhouses Condominiums Reserves: 12 months minimum Seller Concessions: Up to 2% towards closing Subordinate Financing: Not allowed CREDIT Bankruptcy Seasoning: 12 months Credit: Limited consumer lates Standard: 3 trade lines reporting for 12 month; or 2 trade lines reporting for 24 months with activity in the past 12 months FOREIGN Credit: 3 trade lines reporting for 24 months with activity in the past 12 months Credit Score: Use middle FICO score of primary wage earner Housing History Clean housing history since housing event 24 month housing history must be verified Foreclosure, Short Sale, Deed-In-Lieu: Within past 12 months: LTV 10% reduction DOCUMENTATION REQUIREMENTS Assets: Assets sourced or seasoned for 60 days (must be in US account for minimum of 30 days) Gift Funds not allowed Miscellaneous: SSN or ITIN not required Chuck Junkmann | Account Executive Cell: 515-770-3143 | Email: | Angel Oak Mortgage Solutions LLC NMLS #1160240, Corporate office, 3060 Peachtree Road NW, Suite 500B, Atlanta, GA 30305.

3 This communication is sent only by Angel Oak Mortgage Solutions LLC and is not intended to imply that any of our loan products will be offered by or in conjunction with HUD, FHA, VA, the government or any federal, state or local governmental body. This is a business-to-business communication and is intended for licensed mortgage professionals only and is not intended to be distributed to the consumer or the general public. AOMS FOREIGN NATIONAL Matrix 25 JUN 2015 MKA