Loan Parameters:

• Minimum credit score 620 with 15% down payment.
• With 720 or higher credit scores, only 10% down payment is required
• Need to have credit scores, need at least 2 scores.
• For investment 20% down payment  
• Max loan amt $1.5mil and Min loan amount $100k
• Primary, second home and investment
• Need Housing History – 12months of verifiable housing payment.  Any paper trail showing 12months of rent payments.
• Tradeline requirements – 3 with 12month payment history or alternative tradelines can be substituted
• Escrow account required unless client can place 20% down payment
• Purchase, Refinance and Texas Cash out. Limit to Min loan amt $250k
• Terms: 15 and 30 years, Fixed Rates
• First time home buyers OK
• If Investment, need to have a primary home already
• Gift Funds from a relative are ok, as long as borrower has 5% of their own funds
• Reserves, usually need about 3-6 months equivalent to the new mortgage payments including taxes and insurance
• Don’t need a US Identification, only passport from their own country
  

Types of Income Documents Allowed:

• Full Document Loan 2-years W-2s, or 1099
• 2years of tax returns or K1’s when business owner.
• Alternative Documents - 12 or 24 month personal or business bank statements
• Profit and Loss Statement, with letter from the CPA, or tax preparer with ID