Portfolio loan programs with guidelines allowing for exceptions to the strict underwriting guidelines required by Fannie Mae and Freddie Mac for conventional conforming loans. These loans are typically held in the bank’s “portfolio” rather than being sold on the secondary market.
While these loans are general offered to the most credit worthy A+ borrowers, the rates tend to be slightly higher than conforming loans. The minimum loan amount is $300,000 with some programs allowing up to 90% loan to value on loans up to 5 million dollars.
Some of our niche programs include:
· Jumbo ARM’s and interest only programs
· Vesting title in entities with minimal paperwork
· Asset depletion allowing borrower to use liquid assets as income to meet debt to income guidelines
· Pledged assets including non-retirement securities accounts
· Financing for unique properties with no limit on acreage
· Non-warrantable condos and condotels
· Foreign National borrowers using alternative credit and sourced funds from a known financial institution.
· Multi-family and mixed use commercial financing including programs for borrowers with credit or income tax issues