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AFN Specialty Products
Non-QMFull Doc Jumbo and Agency Alternative
Non-QMBank Statement Programs
Non-QMNo Income - Investor Cash Flow Programs
Renovation LoansFHA 203K and FNMA HomeStyle
Prime Jumbo Loans
HECMReverse Mortgages
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Table of Contents
Non-QMFull Doc Jumbo and Agency AlternativeGalton (I-38) Prime A and A+
Program Highlights• 95% LTV to $1.5MM, with a 680 FICO, Nation-Wide!• 95% LTV Cash Out to $1.5MM, with a 720 FICO• 80% LTV Cash Out to $2MM for Investment Properties• No Mortgage Insurance on any loan• No Maximum Cash Out
Program Limits• Loan Amounts up to $2.5MM (other programs available
up to $5MM)• FICO Scores as low as 600
• All Occupancies allowed for Purchase, Rate & Term and Cash Out
• Fixed, ARM and Interest Only Available
Primary Contact for AFN Team Members: (714) 706-3714 [email protected]
Non-QMBank Statement ProgramsImpac (I-15), Verus (I-42) and SG Capital (I-46)Impac (I-15) iQM Bank Statements Program• 12 Month Bank Statement Option• 90% LTV to $1MM, with a 680 FICO• 85% LTV Cash Out to $750K, with a 680 FICO• FICO Scores as low as 600• Loan Amounts up to $3MM• Borrowers may use asset amortization to derive additional
qualifying income!
Verus (I-42) Prime Ascent and Credit Ascent Programs• 12 and 24 Month Bank Statement and Full Doc Options• 90% LTV to $1.5MM, with a 680 FICO• 85% LTV Cash Out to $1.5MM, with a 680 FICO• FICO Scores as low as 580 (500 Full Doc)• Loan Amounts up to $5MM• 1 Day out of BK, Foreclosure or Short Sale is OK!
SG Capital (I-46) Expanded Access Plus and Core Programs• 12 and 24 Month Bank Statement and Full Doc Options• Personal or Business Bank Statements OK• 85% LTV to $1MM, with a 680 FICO• 80% LTV Cash Out to $1MM, with a 660 FICO• FICO Scores as low as 620• Loan Amounts up to $2.5MM• Guideline Exceptions Available!
Primary Contact for AFN Team Members: (714) 706-3714 [email protected]
Non-QMNo Income - Investor Cash Flow ProgramsImpac (I-15) and Verus (I-42)
Impac (I-15) iQM Investor Program:• No Income required if the subject property does not
have negative cash flow!• 80% with a 680 FICO• 75% LTV Cash Out with a 720 FICO• FICO Scores as low as 600• Loan Amounts up to $2.5MM• No borrower income or employment is stated or verified!
Verus (I-42) Investor Solutions Program• No Income required, even if the property has negative
cash flow!• Full Doc and Bank Statement options also available• 80% LTV to $1MM, with a 700 FICO• 75% LTV Cash Out to $1.5MM, with a 700 FICO• FICO Scores as low as 600 (540 Full Doc)• Loan Amounts up to $5MM• Improved pricing for transactions with better cash flow
ratios!
Primary Contact for AFN Team Members: (714) 706-3714 [email protected]
Renovation LoansFHA 203K and FNMA HomeStyleCaliber (I-20), Freedom (I-21) and M&T (I-23)Build equity where it didn’t exist, turn a “fixer upper” into a dream home or help someone rehab their property in need; all without worrying about 2nd liens, big down payments or cash out refinances.
FHA 203K and 203K Limited• 96.50% LTV for Purchases• 97.25% LTV for Refinances• 620 Minimum FICO• High Balance Loans Allowed• No maximum repair amount ($35K for Limited program)• Fixed Rate or 5/1 ARM Available
FNMA HomeStyle• 95% Max LTV• 620 Minimum FICO• Owner Occupied, 2nd Homes and Investment Properties Allowed!• No restrictions on types of repairs• High Balance Loans Allowed• Repair amount can be up to 75% of As Completed Value• Fixed Rate terms available
Contact Us for More Information:
Specialty Products Team(714) 706-3714 | [email protected]
Jay Boetscher “The Rehabman” [email protected] (312) 401-5626
Joseph [email protected] (815) 905-3390
Note: These are Program Minimums and Maximums only. Limitations for most programs (i.e. Max Loan Amount, Max Cash to Borrower and Max DTI) can, and will, vary based on the specific scenario. Refer to full program guidelines for details.
Jumbo Product MatrixRev. 8/6/2018
Investor Name
Investor Code
Guideline Password Program Name Max Loan
Amount Underwriting Type Max LTV Min FICO Cash Out Max LTV
Cash Out Min FICO
Max Cash to Borrower
2nd Home Max LTV
N/O/OMax LTV Max DTI 2 Appraisals
(Loan Amount)Other AppraisalRequirements
Maximum Number of Financed Properties
PennyMac I-6 jumboJumbo
(Fixed & ARMs)$2,000,000
In-House Underwrite 2nd Sign by Manager
80%/700 700/80% 75%/700 700/75% $500,000 80%/700 N/A 43% > $1,000,000 CDA Required(Must be ordered by Processor)
4
Chase I-16 jumboNon-Agency High LTV
(Fixed & ARMs)$2,000,000
(County Specific)In-House up to $2MM 2nd Sign by Manager
89.99%/740 740/89.99% N/A N/A N/A N/A N/A 35% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit2nd Home - 4
Chase I-16 jumboNon-Agency
(Fixed)$3,000,000
In-House up to $2MM 2nd Sign by Manager
85%/700 680/80% 80%/700 680/75% $250,000 80%/680 75%/700 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit2nd Home - 4
Chase I-16 jumboNon-Agency
(ARMs)$3,000,000
In-House up to $2MM 2nd Sign by Manager
85%/700 680/80% 80%/700 680/75% $250,000 80%/680 75%/700 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit2nd Home - 4
Chase I-16 jumboNon-Agency
(Interest Only ARMs)$3,000,000
In-House up to $2MM 2nd Sign by Manager
75%/700 700/75% N/A N/A N/A 65%/740 N/A 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit2nd Home - 4
Caliber I-20 jumboJumbo
(Fixed & ARMs)$2,500,000
In-House Underwrite 2nd Sign by Manager
89.99%/720 680/80% 75%/720 700/65% $750,000 80%/720 65%/740 43%Purch > $2,000,000Refi > $1,500,000
CDA Required(Must be ordered by Processor)
4
Redwood I-28 jumboSelect 90 QM
(Fixed)$1,500,000
In-House Underwrite 2nd Sign by Manager
90%/720 720/90% N/A N/A N/A N/A N/A 43% Refi - All Loan Amounts CDA Required(Must be ordered by Processor)
2
Redwood I-28 jumboSelect QM
(Fixed & ARMs)Fixed - $2,500,000 ARMs - $2,000,000
In-House Underwrite 2nd Sign by Manager
85%/760 700/70% 70%/720 700/65% $750,000 80%/720 70%/740 43%Purch > $2,000,000Refi > $1,500,000
CDA Required(Must be ordered by Processor)
4
Redwood I-28 jumboChoice QM
(Fixed & ARMs)$2,000,000
In-House Underwrite 2nd Sign by Manager
90%/680 661/80% 80%/680 661/70% $500,000 80%/661 75%/680 43%Purch > $2,000,000Refi > $1,500,000
CDA Required(Must be ordered by Processor)
10
TX Capital I-44 jumboStandard Jumbo (Fixed & ARMs)
$2,000,000 In-House Underwrite 2nd Sign by Manager
80%/740 700/70% 70%/720 720/70% $500,000 75%/720 60%/760 43% > $1,500,000 CDA Required(Must be ordered by Processor)
4
SG Capital I-46 jumboPrime Jumbo
(Fixed & ARMs)$3,000,000
In-House Underwrite 2nd Sign by Manager
85%/760 700/80% 80%/700 700/80%> 65% - $300K≤ 65% - $500K
80%/700 60%/760 43% > $2,000,000 CDA Required(Must be ordered by Processor)
DTI > 38% - 4DTI ≤ 38% - 6
Wells Fargo I-7 jumboNon-Conforming (Fixed & ARMs)
$3,000,000 Investor Prior
Approval RequiredFixed - 80%/700 ARMs - 80%/720
Fixed - 700/80% ARMs - 720/80%
70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720
60%/740 36%/43%2nd AppraisalNot Required
CDA Not Required(Order Apraisal Through: Assurant Valuations2,
Clear Capital, CoreLogic, PCV Murcor, ServiceLink or Solidifi)
4
Wells Fargo I-7 jumboNon-Conforming
Preferred Payment Plan (Fixed & ARMs)
$3,000,000 Investor Prior
Approval RequiredFixed - 80%/700 ARMs - 80%/720
Fixed - 700/80% ARMs - 720/80%
70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720
60%/740 36%/43%2nd AppraisalNot Required
CDA Not Required(Order Apraisal Through: Assurant Valuations2,
Clear Capital, CoreLogic, PCV Murcor, ServiceLink or Solidifi)
4
BK and ForeclosureSeasoning
Deed-in-Lieu &Short Sale Seasoning
7 Years 7 Years
7 Years 7 Years
7 Years4-7 Years
Based on LoanCharacteristics
7 Years4-7 Years
Based on LoanCharacteristics
7 Years4-7 Years
Based on LoanCharacteristics
7 Years 7 Years
None Allowed None Allowed
7 Years 7 Years
4 Years 4 Years
7 Years 7 Years
7 Years 7 Years
7 Years 7 Years
7 Years 7 Years
Jumbo Product Matrix
Primary Contact for AFN Team Members:(714) [email protected]
InvestorName
InvestorCode
Guideline Password Program Name Max Loan
Amount Underwriting Type Max LTV Min FICO Cash OutMax LTV
Cash OutMin FICO
Max Cash to Borrower
2nd Home Max LTV
N/O/O Max LTV Max DTI 2 Appraisals
(Loan Amount)Other Appraisal Requirements
Maximum Number of Financed Properties
PennyMac I-6 jumboJumbo
(Fixed & ARMs)$2,000,000
In-House Underwrite2nd Sign by Manager
80%/700 700/80% 75%/700 700/75% $500,000 80%/700 N/A 43% > $1,000,000 CDA Required(Must be ordered by Processor)
4
Chase I-16 jumboNon-Agency High LTV
(Fixed & ARMs)$2,000,000
(County Specific)In-House up to $2MM2nd Sign by Manager
89.99%/740 740/89.99% N/A N/A N/A N/A N/A 35% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit 2nd Home - 4
Chase I-16 jumboNon-Agency
(Fixed)$3,000,000
In-House up to $2MM2nd Sign by Manager
85%/700 680/80% 80%/700 680/75% $250,000 80%/680 75%/700 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit 2nd Home - 4
Chase I-16 jumboNon-Agency
(ARMs)$3,000,000
In-House up to $2MM2nd Sign by Manager
85%/700 680/80% 80%/700 680/75% $250,000 80%/680 75%/700 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit 2nd Home - 4
Chase I-16 jumboNon-Agency
(Interest Only ARMs)$3,000,000
In-House up to $2MM2nd Sign by Manager
75%/700 700/75% N/A N/A N/A 65%/740 N/A 43% > $2,000,000 CDA Required(Must be ordered by Processor)
Owner Occ - No Limit 2nd Home - 4
Caliber I-20 jumboJumbo
(Fixed & ARMs)$2,500,000
In-House Underwrite2nd Sign by Manager
89.99%/720 680/80% 75%/720 700/65% $750,000 80%/720 65%/740 43%Purch > $2,000,000 Refi > $1,500,000
CDA Required(Must be ordered by Processor)
4
Redwood I-28 jumboSelect 90 QM
(Fixed)$1,500,000
In-House Underwrite2nd Sign by Manager
90%/720 720/90% N/A N/A N/A N/A N/A 43% Refi - All Loan Amounts CDA Required(Must be ordered by Processor)
2
Redwood I-28 jumboSelect QM
(Fixed & ARMs)Fixed - $2,500,000ARMs - $2,000,000
In-House Underwrite2nd Sign by Manager
85%/760 700/70% 70%/720 700/65% $750,000 80%/720 70%/740 43%Purch > $2,000,000 Refi > $1,500,000
CDA Required(Must be ordered by Processor)
4
Redwood I-28 jumboChoice QM
(Fixed & ARMs)$2,000,000
In-House Underwrite2nd Sign by Manager
90%/680 661/80% 80%/680 661/70% $500,000 80%/661 75%/680 43%Purch > $2,000,000 Refi > $1,500,000
CDA Required(Must be ordered by Processor)
10
TX Capital I-44 jumboStandard Jumbo(Fixed & ARMs)
$2,000,000 In-House Underwrite2nd Sign by Manager
80%/740 700/70% 70%/720 720/70% $500,000 75%/720 60%/760 43% > $1,500,000 CDA Required(Must be ordered by Processor)
4
SG Capital I-46 jumboPrime Jumbo
(Fixed & ARMs)$3,000,000
In-House Underwrite2nd Sign by Manager
85%/760 700/80% 80%/700 700/80%> 65% - $300K≤ 65% - $500K
80%/700 60%/760 43% > $2,000,000 CDA Required(Must be ordered by Processor)
DTI > 38% - 4 DTI ≤ 38% - 6
Wells Fargo I-7 jumboNon-Conforming(Fixed & ARMs)
$3,000,000 Investor Prior
Approval RequiredFixed - 80%/700 ARMs - 80%/720
Fixed - 700/80%ARMs - 720/80%
70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720
60%/740 36%/43%2nd AppraisalNot Required
CDA Not Required (Order Apraisal Through: Assurant Valuations2,
Clear Capital, CoreLogic, PCV Murcor, ServiceLink or Solidifi)
4
Wells Fargo I-7 jumboNon-Conforming
Preferred Payment Plan(Fixed & ARMs)
$3,000,000 Investor Prior
Approval RequiredFixed - 80%/700 ARMs - 80%/720
Fixed - 700/80%ARMs - 720/80%
70%/720 720/70% $500,000 Fixed - 80%/700 ARMs - 80%/720
60%/740 36%/43%2nd AppraisalNot Required
CDA Not Required (Order Apraisal Through: Assurant Valuations2,
Clear Capital, CoreLogic, PCV Murcor, ServiceLink or Solidifi)
4
BK and Foreclosure Seasoning
Deed-in-Lieu & Short Sale Seasoning
7 Years 7 Years
7 Years 7 Years
7 Years4-7 Years
Based on Loan Characteristics
7 Years4-7 Years
Based on Loan Characteristics
7 Years4-7 Years
Based on Loan Characteristics
7 Years 7 Years
None Allowed None Allowed
7 Years 7 Years
4 Years 4 Years
7 Years 7 Years
7 Years 7 Years
7 Years 7 Years
7 Years 7 Years
Jumbo Product Matrix
HECMReverse MortgagesFor borrowers age 62 and higher, these loans can be a great source of revenue for your branch. Use our team of Reverse Mortgage professionals to add our Simple Reverse Solution to your repertoire.
Programs and Highlights• FHA Insured Options available with Fixed or Adjustable Rate• Jumbo Reverse Mortgages Available• Purchase, Refinance and Line of Credit options available• No Credit Score Requirement
Process Overview
• Provide 6 simple pieces of information and we will pre-qualifyyour borrower
• We will happily handle the loan from beginning to end• Profits will be split with your branch!
Chris [email protected] | (760) 408-4371
Debbie [email protected] | (626) 890-6738
Richard [email protected] | (760) 404-1429
Contact Us for More Information: