Criterias sample 1

Product 1

Summary (mandatory)

Full Doc Jumbo product for strong credit borrower with a full 2-year income assessment and reserves requiring 6 – 18 months.

Target Borrowers (Mandatory)

Borrowers that need financing that exceeds conforming loan limits and have a credit score > 680 and reserves from 6 to 18 months

Products

Fixed Rate Only. One Jumbo option available with amortization terms of 15, 20 or 30 Years

MAX Loan Amount

$1,500,000

Min FICO

680

Max LTV

80%

Cash Out

Not available at this time (Investor Overlay)

Housing History

0 x 30 in most recent 12 months

Bankruptcy

7 year waiting period with a minimum of three new traditional tradelines established for 24 months with no delinquencies since bankruptcy discharge.

Income Doc

Full Doc only, which includes tax returns for two years for personal and business (if applicable).

Business Ownership Requirements

Minimum 2 years self-employment required.

Non- Warrantable Condo

Not allowed

Calculating Monthly Income

Refer to AIG Jumbo UW Guidelines