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Underwriting Guidelines

Residential 1st Trust Deed 70% LTV or 2nd Trust Deed 60% LTV
Commercial 1st Trust Deed 60% LTV or 2nd Trust Deed 55% LTV


Rates: 7.95% to 12.45%
Amount: $60,000 to $1,000,000
Term: 12 months interest only with possibility to extend another two terms

Underwriting
Case by case underwriting, one loan at a time, other factors are considered.

Credit, income, property conditions, status and etc. are not an issue for funding.



Private Money
  • Case by Case
  • One loan at a time
  • Other factors considered
  • Residential 70%LTV, 60%CLTV

VOE
  • Employer signs verification form

Self Employed Borrowers who cannot qualify with Tax Returns
  • Bank Statements Programs - 12 to 24 months.
  • 90% max LTV, scores down to 580.
  • 1 Year Income Verification - Income qualify with 1 year of recent W2 + YTD paystub, or 1 year tax returns for self-employed.
  • 80% LTV.

Full Doc for borrowers with recent credit events.
  • Recent Credit Event
  • Recent bankruptcy
  • Foreclose
  • Short Sale allowed.
  • Scores down to 580.

Borrowers with a large amount of assets, but little income.
  • Asset Depletion - Assets used to qualify.
  • 100% of retirement accounts can be used.
  • Percentage of equality in real estate can also be used in calculations.
  • DTI up to 59%.

W2 Borrowers with good income, but debt ratio is out of line.
  • Residual Income - Residual income 300% of VA limits. 
  • LTV to 80%, DTI to 59%.

Investor Loan - Use rental income in analysis.
  • No income verification, or debt service coverage needed.
  • 75% max LTV for purchase & rate/term, 70% cash out.
  • Investor Debt Service Coverage-Subject property rent is used to offset PITI to qualify.
  • 80% LTV for purchase & rate/term.
  • 90 day seasoning on cash out.

Foreign National Loans
  • No ratio
  • Debt Service Coverage
  • 1 year income verification

F1, OPT