Table 1 of 2
| Investor Advantage | Non-Prime (Full Doc) | |
| Credit | ||
| Max LTV | 80% | OO 90% NOO 80% |
| FICO | 620+ | OO 500+ NOO 580+ |
| Loam Amount | ||
| Minimum | $ 100,000 | $ 100,000 |
| Maximum | $ 2,000,000 | $ 2,000,000 |
| Debt Ratios | ||
| Max DTI | N/A | 43% |
| Enhanced DTI (to 50%) | N/A | √ |
| Enhanced DTI (to 55%) | N/A | √ (Not allowed for NOO) |
| Income Documentation | ||
| Full Doc | N/A | √ |
| Asset Depletion | N/A | √ (Not allowed for NOO) |
| 24 Month Personal Statements | N/A | √ |
| 24 Month Business Statements | N/A | √ |
| 1 Year Alt Doc | N/A | √ |
| 12 Mo Personal Bank Statements | N/A | √ |
| Product Type | ||
| 5/1 ARM | √ | √ |
| 7/1 ARM | √ | |
| 30 Year Fixed | √ | √ |
| Interest Only | √ | √ |
| Mortgage History | 1x30x12 | Option A 0x60x12; Option B 0x120x12; Option C 0x120x12 |
| Bankruptcy Seasoning | 24 months | Option A 24 Months; Option B 12Months; Option C Settled |
| FC/SS/DIL Seasoning | 24 months | Option A 24 Months; Option B 12Months; Option C Settled |
| Residual Income | N/A | $ 1,500.00 |
| Marketing Points | Investors looking for Maximum LTV in their Investment properties. Best for: • ARM structures with interest-only options • Outside Agency Investor Guidelines • Prior defaults • 10+ properties, LLC ownership, and Professional Investors • Non-Warrantable Condos • Business Purpose Loans |
Borrowers with Credit Blemishes & Recent Housing Issues Owner-occupied borrowers with a housing default in the last 2 years. LTV’s up to 90%. Best for: • Consumer credit challenges with consistent housing history • Credit grades for 24 Months from housing event to no seasoning required from housing event • Income documented outside of QM – Bank Statements OK |
| Operation Points | Scenario Desk: https://www.nonqmscenario.com/ | |
| Product Pricing Tool: https://deephavencorrespondent.pricerone.com/ | ||
Table 2 of 2
| Near Prime (Full Doc) | Foreign National | |
| Credit | ||
| Max LTV | OO 95% NOO 85% | 75% |
| FICO | 620+ | N/A |
| Loam Amount | ||
| Minimum | $ 100,000 | $ 100,000 |
| Maximum | $ 3,000,000 | $ 1,500,000 |
| Debt Ratios | ||
| Max DTI | 50% | 50%/N/A |
| Enhanced DTI (to 50%) | √ | N/A |
| Enhanced DTI (to 55%) | √ (Not allowed for NOO) | N/A |
| Income Documentation | ||
| Full Doc | √ | √ |
| Asset Depletion | √ | √ |
| 24 Month Personal Statements | √ | Not Allowed |
| 24 Month Business Statements | √ | Not Allowed |
| 1 Year Alt Doc | √ | Not Allowed |
| 12 Mo Personal Bank Statements | √ | Not Allowed |
| Product Type | ||
| 5/1 ARM | √ | √ |
| 7/1 ARM | √ | |
| 30 Year Fixed | √ | √ |
| Interest Only | √ | √ |
| Mortgage History | 1x30x12 | 1x30x12 |
| Bankruptcy Seasoning | 36 Months | 24 months |
| FC/SS/DIL Seasoning | 36 Months | 24 months |
| Residual Income | $ 2,500.00 | N/A |
| Marketing Points | Owner-occupied borrowers at least 3+ years past their housing default. LTV’s up to 95%. Best for: • 3+ years removed from housing default • Income documented outside of QM – Personal and Business Bank Statements OK • Fixed, Arm and Interest Only options available |
Borrowers from other parts of the world looking to buy or refinance in the U.S. Includes 2nd Home & Investment Property Occupancy Options Best for: • Foreign clients with a valid passport and an unexpired Visa. • Visa types accepted: B-1, B-2, H-2, H-3, J-1, J-2, O-2, P-1, P-2 and I • 3/1, 5/1 and 10/1 ARM options • SFR, Condo, Non-Warrantable Condo, 2-4 Units |
Deep Haven:
Heather Carrico
Direct: 704.885.5064
Email:hcarrico@deephavenmortgage.com
Deep Haven Scenario Desk:
704-628-4109
scenario@deephavenmortgage.com
Nations Scenario Desk:
Susanna Carouthers
Direct: 330-338-7785
suzanna.carouthers@nationslending.com
