Criteria |
PLATINUM ASSET QUALIFER |
PORTFOLIO SELECT ASSET QUALIFER |
NonQM Profile Category |
Asset Qualifier; Interest Only; Non Warrantable Condo |
Asset Qualifier; Interest Only; Non Warrantable Condo |
Documentation |
Asset Only |
Asset Only |
Maximum Loan Amount |
3MM |
3MM |
Loan Term/Mortgage Rate Type |
30 yr fixed or 5/1 ARM |
30 yr fixed or 5/1 ARM |
Interest Only |
30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr) |
30 or 40-Year Fixed I/O or 5/1 ARM I/O (30 or 40 yr) |
Bankruptcy Seasoning |
60 Months |
60 Months |
DTI |
40/50% |
40/50% |
Credit Score (min) |
700 |
700 |
Foreclosure, Short Sale, Deed-in-Lieu |
60 Months |
60 Months |
Occupancy |
Owner-Occupied |
Owner-Occupied |
Min. Reserves |
6 months |
6 months |
Residual Income (min) |
1300 |
1300 |
Max Payment Shock |
350% FTHB – 250% |
250% |
Mortgage (or rent) Payment History |
1 x 30 x 12 or 2 x 30 x 24 |
Max 1 x 30 x 12 |
Rent Free |
Not Eligible |
Not Eligible |
Max LTV |
75% |
75% |
Gift Funds |
Not Allowed |
Not Allowed |
Max Cash in Hand |
N/A |
N/A |
Non Warrantable Condos |
Available |
Available |
Marketing |
Perfect for Borrowers With High Net Worth and Significant Assets No other income required |
Perfect for Borrowers With High Net Worth and Significant Assets No other income required |
Operational |
Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) |
Visit our website at www.angeloakms.com for rates (QuickQuote) or to get a Prequal for your borrower (Prequal Request) |