Erez

Erez

Find loans that will work for this scenario: Property Type: SFR, Property State: New Jersey, Lien Position: first-lien, Loan Purpose: Purchase, Occupancy Type: Investment Property, Credit Score: 780, LTV: 75%, Loan Amount: $350,000, Non Warrantable Condo, Months of Reserves: 8 months, Maximum Debt to Income Ratio DTI: 44%, Income Type: Full Doc 1 Year (NQM), Property Value: $466,666.67, Citizenship: US Citizen, Prepayment Penalty: No Penalty. These are my loan scenario requirements, please recommend programs that will work for this scenario.

Short answer

You have multiple solid Full Doc 1‑Year Non‑QM options for an NJ investment purchase at 75% LTV and $350k. Most will allow a non‑warrantable condo and a no‑prepay option; FundLoans is the notable exception (typically requires at least a 1‑year PPP on investments).

Clarify: Is the property an SFR or a condo (non‑warrantable)? Your inputs list SFR but also “Non‑Warrantable Condo.”

Best‑fit programs (all meet 75% LTV, Full Doc 1‑Year, NJ, 1st lien, investment)

LenderProgramNon‑Warrantable CondoPrepay PenaltyNotes
A&D MortgagePrime / Super PrimeYes (investment; limited review, typical max 75% CLTV)No‑PPP optionClean fit on 780 FICO, 75% LTV, DTI 44%, 8 mo reserves.
Change WholesaleAlt Doc PrimeYes (up to 80% LTV)No‑PPP availableFull Doc 1‑Year accepted; your 75% LTV fits.
Change WholesaleAlt Doc ExpressYesNo‑PPP availableInvestment max often 75%—fits.
DeephavenExpanded PrimeYesNo‑PPP optionAlso Non‑Prime works; DSCR is backup if desired.
NQM FundingFlex Select / Flex Select Express (DU)Yes (purchase up to high LTVs; 75% fits)Can be reduced/removed via buydown/corrExcludes Paterson, NJ.
Champions FundingAccelerator – FULL & ALT DOCYes (investment)No‑PPP optionExplicitly supports your scenario.
Wholesale Mortgage Direct[Full DocPrimary, 2nd Home and Investor](/lenders/86/programs/1498)Yes (NWC up to 80% LTV per review)No‑PPP option
Angel OakPlatinum / Portfolio SelectYes (subject to condo review)No‑PPP buyout availableSFR or NWC can work; NJ permitted. [1] [13]
FundLoansMontage PrimeYes (NWC to 80% LTV)Typically requires ≥1‑yr PPP on investmentYour “no penalty” request likely needs an exception; may not be approved.

Why these fit

  • Full Doc 1‑Year accepted across listed programs; your DTI 44% and 780 FICO align with typical caps.
  • 75% LTV and $350k loan size are within each program’s investment purchase limits.
  • Non‑warrantable condos are broadly allowed (subject to project review) except some lenders impose tighter caps. AmWest notes possible NWC cap around 70% pending review; if SFR, their Advantage One fits at 75% with no PPP per guideline reference. [1]
  • No prepayment penalty is available at A&D, Change, Deephaven, NQM Funding, Champions, WMD, and Angel Oak (via buyout). FundLoans typically requires at least a 1‑year PPP on investments.

Next steps

  1. Confirm property type: SFR or non‑warrantable condo?
  2. If condo: share any HOA issues (litigation, reserves, investor concentration, delinquencies).
  3. Are you 100% firm on “no prepay,” or is a 1‑year PPP acceptable if pricing is better?

If you confirm SFR and no PPP is required, I can price A&D, Change, Deephaven, NQM Funding, Champions, WMD, and Angel Oak side‑by‑side and show the best payment/rate options at 75% LTV.