This is a standalone, closed-end second lien program for business-purpose investment properties, with qualification based on a Debt-Service Coverage Ratio (DSCR) calculation. It is available for rate/term and cash-out transactions. Interest-only options and condominiums are not permitted under this specific program.
A standalone second-lien program designed for qualified borrowers, offering higher CLTV options up to 90% for primary residences, second homes, and investment properties. This program requires full documentation and offers fixed terms from 10 to 30 years with loan amounts up to $500,000. Interest-only loans are not permitted.
This program provides financing for investment properties based on the property's debt service coverage ratio (DSCR) rather than personal income. It is for business purpose loans only and accommodates various products, including interest-only options. Borrowing entities like LLCs are also permitted under this program.
Home equity line of credit with fixed 5-, 10-, 15-, or 30-year terms and corresponding 2–5 year draw periods. Loan amounts range from $25,000 to $400,000 with DTI up to 50%, second‑lien only, and available for primary, second homes, and investment properties. CLTV limits are matrix‑driven by loan amount, occupancy, and FICO; AVM-only valuation with evaluation fallback; minimum FICO 640 (primary) and 680 (second/investment); no prepayment penalty.
The Expanded Prime Program offers flexible financing with various documentation types and focuses on a borrower's ability to repay. It allows for a DTI up to 55% under certain conditions. This program requires all bankruptcies and housing events to be discharged or dismissed for a minimum of 48 months from the closing date.
The Equity Advantage Program is a standalone, closed-end second lien financing option for primary residences, second homes, and investment properties. It allows for both rate/term and cash-out refinances. The program supports various income documentation types, including full documentation and alternative income like bank statements.
This program is specifically designed for financing 5-9 unit residential investment properties for business purposes. Qualification requires a minimum DSCR of 1.15x, and it supports both purchase and refinance transactions. It offers various loan products, including interest-only options, but does not allow short-term rental income.
The Non-Prime program caters to borrowers with less-than-perfect credit, offering flexible documentation and allowing for recent housing events (0-24 months seasoning). ITIN borrowers are permitted for primary and second home occupancy under this program. Bankruptcies require 0 to 24 months seasoning depending on the specific product.