Matrix: Nonprime Niches
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HomeXpress Mortgage Corp.
100K 2M 90 50 PRC Y Y Y Y Y 20 Y Y 25 Y Y Y Y Y Y Y
AZ CA CO CT DC FL GA ID IL MD NC NJ NV OH OR PA SC TX UT WA Credit scores starting at 500. Short-term rental program.
Alternative documentation programs. Lease options treated as refi. No DSCR program.
75K 2.5M 9550PRCYYYYYY U Y Y YYYY
AL AZ CA CO DC FL GA HI ID MD NC NJ NV OH OR TN TX UT VA WA A leader in non-agencyprogramoptionssuch as 6to 12months bank
statements for self-employed, no income or assets verifications for investments and with IO options.
150K 2M 75 0 PRC Y Y Y U Y Y Y Y Y Y
AZ CA CO DC FL GA IL IN KY LA MA MD MN MT NC NJ NM NV OK OR TX UT WA WI Special investor programs withno-doc I/Ooptions.
No income, no assets and no post-close reserve requirements. OCMBC Inc. dba LoanStream NMLS No. 2125
Mortgage Assurance Inc.
75K 2M 90 43 PRC Y Y 10 Y 10 Y
AL CO CT FL GA IL IN KY LA MD ME MN NC NH PA SC TN TX VA WA Trustedsince 1997, multiple investors allowus to shop our rates.
Call or e-mail for more info on our ECOP product.
75K 4M 90 59PRCYYYYYY U YY 10 Y Y YYYYY
NATIONWIDE except: HI MA MO NY UT VA Sprout Mortgage/Recovco Mortgage Management blazes the NP trail with LPC, rates starting in the 4%s, no ratio
NOOs, bank statement loans, N-W condos and loan sizes to $4M.
The Nonprime Niches describes
mortgages for borrowers and property
types that cannot meet Qualified
Mortgage (QM) standards. This matrix
assumes 1-4 unit residential properties.
Maximums may not apply to all borrower,
property or loan types.
1 Minimum loan amount ($K)
2 Maximum loanamount ($K)
3 Maximum LTV%
4 Maximum DTI%
R=rate & term refi;
LOAN LIMITS CREDIT AND BORROWERS PROPERTY TYPES LOAN CHARAC TERISTICS
13 Max. of financed properties allowed;
14 Non-warrantable condominiums
17 Mobile/manufactured homes post 1976
18 Mobile/manufactured homes pre 1976
19 Few comps: berm, log, modern
20 Max. of acres for rural and/or on acreage;
21 Vacant land
22 Zoned other than residential
6 Alt-doc (bank
7 Asset depletion
9 Stated income/
10 Foreign nationals,
11 Foreign nationals,
12 Property in probate, heirs
23 Balloon loan offered
24 Business-purpose loans
25 Cross-collateral (blanket loans)
27 Hybrid ARM
28 Interest only
29 No-seasoning refinance
30 No prepayment penalty
31 OK: foreclosure, bankruptcy,
short sale, NOD, NOS
32 Second mortgages/trust deeds
LENDERNAME 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32
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