Criteria |
PORTFOLIO SELECT |
INVESTOR CASH FLOW |
NonQM Profile Category |
Bank Statement; Interest Only; High LTV; Investor, Non Warrantable Condo |
Investor; No Income; Interest Only; Non Warrantable Condo |
Documentation |
Full/1 Yr tax return/Bank Statement |
Debt Service Covergae Ratio |
Maximum Loan Amount |
3MM |
1.5MM |
Loan Term/Mortgage Rate Type |
30 yr fixed or 5/1 ARM |
30 yr fixed or 7/1 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 7/1 ARM I/O (30 or 40 yr) |
Bankruptcy Seasoning |
24 Months |
24 Months |
DTI |
40/50% Investment properties 50% |
N/A |
Credit Score (min) |
600 |
640 |
Foreclosure, Short Sale, Deed-in-Lieu |
24 Months Sort Sale – No seasonong if paid as agreed through sale date |
24 Months |
Occupancy |
Owner-Occupied, Second Home or Investmnet Property |
Investment Property |
Min. Reserves |
6 months, 12 months under certain circumstances |
6 months |
Residual Income (min) |
2000 |
N/A |
Max Payment Shock |
2.5 |
N/A |
Mortgage (or rent) Payment History |
Max 1 x 30 x 12 |
0 x 30 x24 |
Rent Free |
Not Eligible |
Not Eligible |
Max LTV |
90% |
80% |
Gift Funds |
Allowed |
Not Allowed |
Max Cash in Hand |
$500K |
$300K |
Non Warrantable Condos |
Available |
Available |
Marketing |
SE borrowers using bank statements for income (down to a 600 FICO) or borrowers with a major credit event over 2 years |
No Income/No ratio program designed for investors. Program qualifies using the cash flow of the subject property only |
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) |