Table: 1 of 2
| Caliber Jumbo Product | ||||||
| Purchase and Rate Term Refinance | ||||||
| Occupancy | Loan Amount | Units | FICO | LTV/CLTV | ||
| Primary | 1.5 mil | 1 | 720 | 89.99/89.99 Purchase and fixed only | ||
| 2.5 mil | 80/89.99 | |||||
| 2.0 mil | 700 | 80/89.99 | ||||
| 2.25 mil | 75/85 | |||||
| 2.5 mil | 80/85 | |||||
| 1.5 mil | 680 | 70/80 | ||||
| 1.5 mil | 2-4 | 720 | 80/80 | |||
| 1.0 mil | 700 | 75/75 | ||||
| Second Home | 1.0 mil | 1 | 720 | 80/80 | ||
| 1.5 mil | 75/75 | |||||
| 2.0 mil | 70/70 | |||||
| 2.5 mil | 65/65 | |||||
| Investment | 1.5 mil | 1 | 740 | 65/65 | ||
| Cashout Refinance | ||||||
| Primary | 1.5 mil | 1 | 700 | 65/65 | ||
| 1.0 mil | 720 | 75/75 | ||||
| 2.0 mil | 65/65 | |||||
| 2.5 mil | 55/55 | |||||
| Second Home | 1.0 mil | 1 | 740 | 70/70 | ||
| 1.5 mil | 65/65 | |||||
| 2.0 mil | 60/60 | |||||
| Reserve Requirements Based on Occupancy | ||||||
| Occupancy | # of Months PITIA | LTV | Loan amount | |||
| Primary | 9 | ≤80% | 1.5 mil | |||
| 12 | ≤80% | 2.0 mil | ||||
| 24 | ≤80% | 2.5 mil | ||||
| 18 | >80 | 1.0 mil | ||||
| 24 | >80 | 1.5 mil | ||||
| Second Home | 9 | ≤75 | 1.0 mil | |||
| 12 | ≥75% and <80% | 1.0 mil | ||||
| 12 | ≤75% | 1.5 mil | ||||
| 18 | ≤75% | 2.0 mil | ||||
| 24 | ≤75% | 2.5 mil | ||||
| Investment | 18 | ≤65% | 1.5 mil | |||
Table: 2 of 2
| Product Guidelines | ||||
| Product Variations | ||||
| Fixed | 15 and 30 Years | |||
| ARM (Max LTV 80%) | 5/1 ARM = 2/2/5 7/1 and 10/1 ARM = 5/2/5 Margin/Floor: 2.25% Index:1 Year Libor |
|||
| Debt Ratios | ||||
| Max DTI | 45% | |||
| Income Documentation | ||||
| Full Doc | √ | |||
| Assets | ||||
| Full Asset Documentation | √ | |||
| Gifts | √ | |||
| Gifts of Equity | Not Allowed | |||
| Credit and Housing History | ||||
| Mortgage History | Subject property and/or each borrower’s current primary residence must have a mortgage/rental history of 0x30 in the most current 24 months as evidenced by a credit report, 24 months of cancelled checks, or an institutional VOM/VOR covering 24 months. Private VOM/VOR is allowed with a 24 month history and the most recent 12 months canceled checks or bank statements. | |||
| Bankruptcy Seasoning | 7 Years | |||
| FC/SS/DIL Seasoning | 7 Years | |||
