MENU
HERE IS A COMPARISON OF A CONVENTIONAL LOAN PROGRAM VS OUR OWN PRIVATE CLIENT PORTFOLIO PROGRAM.
CONVENTIONAL
(Fannie Mae)
Maximum Loan Size:
$726,200
BASIC INCOME FORMULA:
Total Liquid Assets Minus Transaction Costs (Down Payment + Settlement Charges + Reserves)
…then divide that number by 360 months.
IF THE APPLICANT HAS
$750,000
LEFT OVER AFTER CLOSING, THE INCOME CALCULATION WOULD BE
$ 2,083/mo
The resulting figure becomes monthly income that the lender uses to qualify the applicant.
PRIVATE CLIENT PORTFOLIO
Maximum Loan Size:
$3MM
INCOME BASIC FORMULA:
Total Liquid Assets Minus Transaction Costs (Down Payment + Settlement Charges + Reserves)
…then divide that number by 240 months.
+ additional underwriter discretionary income (proprietary calculation)
IF THE APPLICANT HAS
$750,000
LEFT OVER AFTER CLOSING, THE INCOME CALCULATION WOULD BE
$ 3,125/mo - $4,500/mo
The resulting figure becomes monthly income that the lender uses to qualify the applicant.
AGE MINIMUMS:
(MONTHS)
(MONTHS)
(AFTER DOWN PAYMENT/ SETTLEMENT CHARGES/ RESERVES)
MATCHING
(for 2023)
This is not a commitment to lend. Not all borrowers will qualify for the loan programs listed. All program terms and conditions are subject to change and may be discontinued without prior notice. Contact loan originator for program questions and scenarios.