CONSTRUCTION LOANS FLORIDA - CONSTRUCTION LOANS FLORIDA. CURRENT CONSTRUCTION RATES: PRIME MINUS 1 during construction period

LOW (OR NO)
DOCUMENTATION LOANS

What are the different "low-doc" loans? Click HERE.

The No Ratio Loan

Eliminates the calculation of ratios.
Income is not stated or verified, however, employment and assets
must be verified.

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Portfolio Affordable
Housing Product!!!

100% Financing with No
MI coverage required!!!

Seller can contribute to
borrower's down payment!!!

620 minimum score

580 – 619 score may be available
with restrictions.

1 month PITI reserves required!

Borrower must contribute $500 from
own funds, can be cash on hand.

Full Doc Required

Call Me For More Details!!!

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The Shortcut Mortgage

STATED INCOME &
STATED ASSETS (SISA) ...

with Conforming Full-
Doc Fannie pricing.

Only 5% down.

Primary - 1 Unit Property

Purchase AND Rate
& Term Refis

5% down min credit: 700
680 credit: 10% down

AND .....

REFINANCE SISA

Primary Homes - 1 unit Property-
NOW up to 75% LTV

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Express NIV

Investment Property Highlights/Terms:

Purchase & Rate/Term Refinance|

80% LTV / TLTV Maximum
680 minimum credit score: 25% down
700 minimum credit score: less than 20%

Cash-Out Refinance
75% LTV Maximum (secondary
financing not eligible)
680 minimum credit score –
Up to 70% LTV
720 minimum credit score –
Greater than 75% LTV

Definition of "Documentation Types" (back to top)
NIV (No Income Verification) – Income is stated but not verified. Assets are verified. No Ratio – Income is left blank on the application and is not verified. Assets are verified. Employment is required for both options No Doc - Income is left blank. Assets are left blank. Employment is left blank. Employment not required.