The Homelend Platform
Closed End 2nds
Program Highlights
- Standalone & Piggyback
- Fixed Rate 10/15/20/25/30 Year, 3, 5 & 10 Year I/O Option
- DU eligible for credit, income and asset documentation
- Full Doc, Asset Depletion max Loan Amount $1.0mm
- Bank Statement $750K max loan amount, 660 FICO, Max 80% CLTV
- Asset Utilization $750K max loan amount, 660 FICO, Max 80% CLTV
- Minimum FICO 640 Full Doc, 660 ALT Doc
- Max 89.99% CLTV Full Doc, Max 80% ALT Doc
- Purchase, R/T and Cash-Out Refi for all occupancy types
Borrower Profile
- Minimum Housing History 0x30x6, 1×30×24
- Credit Event Seasoning: 4 Yrs, FC – 7 Yrs
- Max DTI 50%
- Non-Permanent Resident Aliens
- Non-occupant co-borrower eligible on all transaction types
- Tri-merge or single bureau Experian credit report, hard and soft pulls acceptable
- Reserves not required
Loan Characteristics
- Full Doc Salaried Borrower: 1 or 2 Year W2, AUS -per DU
- Full Doc Self-Employed Borrower: 1 or 2 Year Tax Return, AUS -per DU
- Asset Depletion -2 months statements for purchase, one month for refinances
- Asset Utilization – 3 months statements
- Alt Doc 12 or 24 months Bank Statements
- SFR, 2-4 Units, PUD, Townhome, Condo, Modular
- AVMs to $400,000, Loans >$250K 2 AVMs required
CONNECT WITH HOMELEND