Nationwide Stated Residential Niche Sheet 2017
Highlighted General Terms
Lending Area:
MSA Area
Transaction Type:
FICO Minimum:
FC / BK/ Short Sale OK:
Property Type Resid:
Loan Type:
Minimum Exposure:
Maximum Exposure:
Trust Deed Positions:
Occupancy Type:
Nationwide
Metro & Highly Populated Suburban Cities
Purchase & Refinance
620
None within 2 Years
SFR, Condo, Townhome, 2-4 Units
Residential
$350,000
$2,000,000
1st Trust Deed Only
100% Non-Owner Only
5% LTV Reduction
Renters Buying REO:
Renter/1st Time Investor/Condo/Townhome
We Do Not Lend to Anyone Whom Cannot
Prove They Own A Primary Home
Maximum LTV:
Maximum Cash Out:
Payment Type:
Interest Rates Under 700 FICO:
Interest Rates Over 700 FICO:
Lender Origination
Broker Origination:
75% LTV
$500,000 Max Cash Out
PITI = Principle, Interest, Taxes, Insur
From 8.25% +
From 7.00 % +
Maximum 2.55%
Up to 2.50%
Loan Prod, Length, Amort
7/1 or 3/1 ARM / 30 Year / Fully Amortizing
Reserves - Liquid:
Retirement Accounts:
Operating Statement:
Bank Statements:
Purchase Gift Funds:
Prepayment Penalty:
Qualifying Rent Must Cover:
Debt to Income Ratio:
Impounds Mandatory:
Appraisal:
Funding Time-Frame:
3 Months PITI
Allowed at 50%
Stated
Latest 3 Months
Must Bring 10%+ (Borr)
3 YR on 3/1 ARM or 5 YR on 7/1 ARM
Principle, Interest, Taxes, Insur, Assoc.
None
Yes - Required
New Only
7-10 Days from Appraisal Back
Scenarios or Questions Please Contact:
Kristen (714) 421-4404
[email protected]
Deborah (714) 831-1199
[email protected]
Direct Federal Mortgage Inc 7545 Irvine Center Drive Suite 200 Irvine CA 92618
Office (714) 421-4404 Fax (714) 260-9211 I DRE Lic #01827992 I NMLS 248253
www.directfederalmortgage.com