What Niche Loans are on the Menu today?

By / April 22, 2021

Primary Residence 1-4 Units 

  • 90% LTV to $1.5M: purchase or rate/term 
  • 80% LTV to $2.0M: purchase 80/10/10 
  • 80% LTV to $2.0M: purchase or rate/term 
  • 75% LTV to $3.0M: purchase or rate/term 
  • 70% LTV to $5.0M: purchase or rate/term 
  • 65% LTV to $5.0M: cash-out 

Second Home 1 Unit 

  • 80% LTV to $2.0M: purchase or rate/term 
  • 75% LTV to $3.0M: purchase or rate/term 
  • 70% LTV to $3.0M: cash-out

Non-Owner Occupied 1-4 Units 

  • 75% LTV to $2.5M: purchase or rate/term 
  • 70% LTV to $5.0M: purchase or rate/term 
  • 70%  LTV to $2.5M: cash-out 

 Cross Collateral 

  • 75% LTV to $2.5M on owner occupied 
  • 70% LTV to $3.0M on owner occupied 
  • 65% LTV to $5.0M on owner occupied 
  • 70% LTV to $2.5M on non-owner occupied 
  • 65% LTV to $5.0M on non-owner occupied

Delayed Purchase 

Loan considered a delayed purchase if borrower paid cash or obtained interim financing for the property

 Departing Residence Use rent from departing residence to offset mortgage payment

40-Year Term 75% LTV to $3.0M on primary residence and second home

Interest Only 75% LTV to $3.0M on primary residence and second home

Asset Depletion Utilize additional income from eligible assets amortized over the life of the loan at the 30-year Treasury bond rate

Accessory Dwelling Unit (ADU)/Boarder Income May be used if on tax return; rent schedule accepted if property is a purchase with ADU

Portfolio Highlights 

  • Average all borrowers’ middle FICOs to calculate the average qualifying FICO
  • Gift funds 100% accepted for primary residence 
  • 47% DTI: Owner Occupied 
  • 45% DTI: Non-Owner Occupied 
  • All info noted is subject to change at anytime without notice