Investment 15% Down 1 Unit

This loan is for investment properties. Rental income may be used to qualify. No mortgage insurance is required. Investment properties will always require mortgage reserves. No multi-units allowed.

Credit score: 620 minimum
Property type: SFR, Condo, PUD
Occupancy: Non-Owner Occupied
Down Payment: 15% minimum
Loan to Value: 85%     Max. CLTV: 85%
Gift Funds Never allowed
Closing cost: Seller and/or lender can pay up to 2%
Debt Ratio: 45%


Additional Notes:

  • Condos must be Fannie Mae approved
  • Unpermitted additions will not be given value
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs.
  • No gifts allowed. Non-arms length transaction prohibited
  • Qualifying rental income requires rental agreement
  • 6 months reserves required if using rental income
  • 75% market rents may be used to qualify
  • Debt ratios extended with 12 months reserves
  • Flips usually one appraisal. No home inspection required
  • Impounds payments are optional

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