CoreX Rate Sheet Info@homeXmortgage.com …
[Pages:2]CoreX Rate Sheet Special: No Add for 12&24 mos
Non-Prime Product
Bank Statement loans
Info@
855-598-1430
Speed | Ease | Convenience
FICO/LTV
50%
55%
60%
65%
70%
75%
80%
85%
90%
Rates Quoted as 5 Year ARM
740
3.625
3.750
3.875
3.999
4.250
4.375
4.625
4.875
5.625
720
3.999
4.125
4.125
4.375
4.500
4.625
4.875
5.125
5.875
700
4.125
4.250
4.375
4.500
4.750
4.999
5.125
5.500
680
4.250
4.375
4.500
4.625
4.999
5.250
5.500
5.999
660
4.750
4.875
5.125
5.250
5.500
5.625
5.999
640
5.250
5.375
5.625
5.750
5.999
6.375
6.625
620
5.500
5.625
5.875
5.999
6.250
6.625
600
5.750
5.875
6.125
6.250
6.500
PROGRAM NOTES
PROPERTY TYPES:
CREDIT SCORE/TRADELINE REQUIREMENTS:
SFRs, Condos, (Warrantable & Non-Warrantable), PUDs, 2-4 units, Townhomes 3 trade lines reporting for 12 month; or 2 trade lines reporting for 24 months with activity
No below average properties
in the past 12 months. Borrower must have housing history or one of the trades must have
Minimum $50,000 equity required
$5,000 high credit/limit.
INELIGIBLE PROPERTIES:
Credit Score The middle score of the primary wage-earner is used for pricing and LTV purposes.
Site>10 Acres, High-rise Condo in Dade/Broward Counties, Florida (8+ stories) INCOME DOCUMENTATION:
LOAN TERMS:
Full Doc - 1 or 2 years W-2, paystubs, tax returns or K1's.
5 ARM or 30 Year Fixed
Alt Doc - 12 or 24 months personal or business bank statements or 1099's, 12-month cash flow.
10 Year/40 Year Term IO
3 months business bank statements, Profit and Loss (P&L) Only.
Index is 30 day SOFR
Min. 2 years history of self employment required. Also available for gratuity earners
Caps are 2/2/5 (2% Initial Change/2% Period Adj/5% Lifetime)
Asset Xpress--100% of amount needed to amortize loan plus monthly debts for 60 months OR
Margin 3.75%
125% of the new loan amount.
All loans require impounds for tax and insurance
Asset Assist--Assets divided by 60 is added to income. Max 50% of total income.
LOAN AMOUNTS:
Lease agreements in lieu of schedule E are treated as ALT Doc.
$100,000--$3,000,000. Loan Amounts over $2M requires 2nd appraisal.
ASSETS / RESERVES:
HOUSING HISTORY/CREDIT EVENT SEASONING:
75% LTV--6 mos.; Loan Amount >$2M--12 Mos.
Housing history--0x30. For housing delinquency, see pricing adjustments. Cash-out may be used to satisfy reserve requirement .
Bankruptcy/Foreclosure--3 year seasoning. For less than 3 years, see
Gift funds are allowed:
pricing adjustments.
>80% LTV Borrower must contribute 5% own funds;
Short Sale/Deed-in-Lieu/Modification--2 year seasoning. For less than 2
80% LTV 100% of down payment and closing costs may come from gift funds.
years, see pricing adjustments.
Note: Gift funds may not be used to satisfy reserves requirements
Forbearance 4.00%
3:1
1 Million $1.5 Million Loans > $1.5 Million $2.0 Million Loans > $2.0 Million $2.5 Million Loans > $2.5 Million 3.0 Million Rural Property 2nd Home 2-4 Units Short-Term Rental 55% DTI Non-Warrantable Condo All 12 and 24 mos Bank Statements Full Doc--1 year ALT Doc lease agreements Asset Xpress Asset Assist 12 months Cash Flow P&L Only 3 Month Bank Statement Housing 1x30 Housing 0x60 Housing 0x90 BK/FC ................
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