Overview
Similar with Jumbo Loan.
Details
30 years fixed.
1) Rental income can be used with 2 years landlord experiences history;
2) No Mortgage Insurance needed;
3) Max. LTV 85%;
4) Min. 12 months reserves on PITIA;
5) Min. FICO 680;
6) Max. Loan Amount $3.0M;
7) Max. cash-out amount $500,000.
* Min. Loan Amount: Max Fannie Mae General Loan Limit + $1
Loan Scenario
1. Purchase / Primary / Value $2.4M / Loan amount 2.0M / LTV 83.3% / FICO 740.
2. Purchase / Primary / Value $3.2 M / Loan amount 2.5M / LTV 78% / FICO 720.
