Finally, true investor loan programs with rates closer to prime than hard money. Buyers may be able to qualify based on the cash flow of other investment properties, rather than personal income.
Deep Haven – Near Prime
• Mid to High Fico borrower
• Shorter seasoning of BK/FC/DIL/SS requirements (36mos)
• Self employed can utilize personal bank statements or business
• P&L used for business bank statements can be borrower prepared or can use CPA prepared Expense Ratio
• 50% DTI standard and up to 55% Enhanced with certain criteria and Full Doc
Deep Haven – Foreign National
• Foreign Nationals who are in the U.S. legally
• Borrower’s may be considered if No SSN or ITIN
• Minimum Tradelines requirement can be met with Qualifying Foreign Credit or in
combination with U.S. credit.
• Full Doc Income qualifying for Second homes
• Max DTI 50% for second homes
• Debt Service Coverage Ratio (DSCR) allowed for Investment properties