PRIME JUMBO (15- OR 30-YEAR FIXED)
· Loan amounts up to $3M
· 680+ FICO and up to 45% DTI
· Up to 89.99% LTV and no MI required
· Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
· One appraisal required for purchases up to $3M and refinances up to $2M*
· Two appraisals, from two different appraisers, required for refinances over $2M*
· Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO RELEASED (30-YEAR FIXED)
· Loan amounts up to $3M
· 680+ FICO and up to 45% DTI
· Up to 89.99% LTV
· Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
· One appraisal required for loans up to $2M*
· Two appraisals, from two different appraisers, required for loans over $2M*
· Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO ARMS (5-, 7- AND 10-YEAR)
· Loan amounts up to $3M
· 680+ FICO and up to 45% DTI
· Up to 80% LTV
· Eligible on primary, second and investment properties for purchases, rate/term and cash-out refinances
· One appraisal required for purchase up to $3M and refinances up to $2M*
· Two appraisals, from two different appraisers, required for refinances over $2M*
· Loan amounts greater than $2M require 18 months of reserves in addition to any reserves required by AUS
PRIME JUMBO INTEREST ONLY (30-YEAR FIXED)
· Loan amounts up to $3M
· 700+ FICO and up to 43% DTI
· Up to 80% LTV
· 10-year interest only, 20-year amortization period
· Eligible for primary and second homes for purchases and rate/term refinances
· One appraisal required for purchases up to $3M and refinances up to $2M*
· Two appraisals, from two different appraisers, required for refinances over $2M*
· Loan amounts up to $1M require 12 months of reserves in addition to any reserves required by AUS
· Loan amounts over $1M require 24 months of reserves in addition to any reserves required by AUS
PRIME JUMBO MAX (30-YEAR FIXED)
· Loans up to 80% LTV
o Loan amounts up to $2.5M
o 700+ FICO and up to 43% DTI
o Eligible for primary and second homes for purchases and rate/term and cash-out refinances
o One appraisal required for loans up to $2M*
o Two appraisals, from two different appraisal companies, required for loans over $2M*
o For primary purchase loans up to $2M – 12 months reserves required
o For second home loans over $2M – 18 months reserves required
o For primary cash out loans up to $1M – 12 months reserves required (up to $300,000 cash back)
o For primary and second home loans over $1M – 18 months reserves required (up to $300,000 cash back)
o For primary cash out loans between $1.501-$2M – 12 months reserves required (up to $500,000 cash back)
o For second home cash out loans between $1.501-$2M – 18 months reserves required (up to $500,000 cash back)
· Loans with an LTV between 80.01-96.5%
o Loan amounts up to $1.5M
o 720+ FICO and up to 40% DTI
o Eligible for primary purchases and rate/term refinances
o One appraisal required for loans up to $1M*
o Two appraisals, from two different appraisers, required for loans over $1M*
o For primary purchase loans up to $1.5M – 24 months reserves required
*Information is subject to change. Certain restrictions apply. Subject to Borrowers qualifications.