The Funnel Cake program in the CAKE DSCR Eligibility Guidelines features overlays for refinance transactions and condotel projects. It imposes restrictions like a maximum LTV of 70% for refinance and specific requirements for first-time investors and foreign nationals.
The Coffee Cake Lite program offers flexible loan options with a maximum LTV/CLTV of 80% for purchases, 75% for rate/term refinances, and 70% for cash-out refinances. It includes various property types and occupancy options, with specific requirements for appraisals, credit scores, and loan amounts.
The CUP CAKE program offers a 30-year amortized term with options for 5/1 or 7/1 Hybrid ARM or 30-year fixed rates. It includes interest-only loans with a 5-year interest-only payment and 25-year fully amortized period, suitable for first-time homebuyers with a maximum 70% LTV and a minimum DSCR of 1.0. The program supports various property types, including SFR, condos, townhouses, 2-4 units, and manufactured homes, with loan amounts ranging from $100,000 to $3,000,000.
The Funnel Cake Lite program offers flexible loan options with a maximum LTV of 80% for purchases and 70% for refinances. It includes various property types such as SFR, PUD, Townhome, 2-4 Units, Condos, and Rural properties, with specific requirements for appraisals and credit scores.
The Bundt Cake program is part of the CAKE DSCR Eligibility Guidelines, offering financing for non-owner-occupied investment properties. It allows borrowers to qualify based on the Debt Service Coverage Ratio (DSCR) using property income, suitable for experienced investors, first-time investors, and first-time homebuyers.
The SPONGE CAKE program offers a variety of loan options for primary residences, second homes, and investment properties. It includes flexible terms such as 30 & 40 years fixed, 5/6 & 7/6 ARM, and interest-only periods, with a maximum loan amount of $4 million and various property types including SFR, PUD, condos, and manufactured housing.
The Cheese Cake program under the CAKE DSCR Eligibility Guidelines provides overlays for specific scenarios, such as refinance qualifications and accessory dwelling units. It includes restrictions like a maximum of one accessory unit and specific requirements for foreign nationals.
The Coffee Cake Full Doc program offers financing options with varying LTVs based on FICO scores, occupancy, and loan amounts. It includes options for fixed and ARM loans, with specific requirements for reserves, declining markets, and income documentation, catering to investment properties with loan amounts from $150,000 to $4,000,000. The program is available for primary residences, second homes, and investment properties.
The Coffee Cake program within the CAKE DSCR Eligibility Guidelines includes overlays for purchase and refinance qualifications, requiring proof of receipt for rental income exceeding market rent. It also mandates specific borrower contributions for investment properties with high LTVs.
The Cheese Cake Full Doc program offers financing options with varying LTVs based on FICO scores, occupancy, and loan amounts. It includes options for fixed and ARM loans, with specific requirements for reserves, declining markets, and income documentation, catering to investment properties with loan amounts from $125,000 to $3,000,000.
The Cheesecake - NonQM Alt doc program provides alternative documentation options for self-employed borrowers, including 12 Personal or Business Bank Statements. It offers flexible loan terms and conditions, catering to various occupancy types and loan amounts.