This is a standard Conventional loan program, but without the restrictions against your industry seen at most banks, credit unions or banks. It is designed for W2 wage earning workers in the Cannabis or hemp industries. This includes employees who work at dispensaries, growers, manufacturers, administration, or any other role in the supply chain. This is a standard Conventional loan program, but without the restrictions against your industry.

➤  WHO IS THE IDEAL CANDIDATE?

 The ideal candidate for this program is an applicant who meets the following criteria:

1. W2 Wage-earning employee - Pay can be hourly, salary, etc. Bonus and overtime income may be counted after a two year history, or unless the employer expressly defines it as part of the employee's compensation package as a guaranteed pay component.

2. Applicants may not own any percentage of the Employer's Cannabis Business greater than 25% .

➤   KEY FEATURES

• Minimum Down Payment: 3% for first time home-buyers, or 5% if you have owned a home within the past 5 years.

• Occupancy: Primary residence, Second/ vacation home, or investment homes.
• Eligible Home Types:  Single Family Homes, Townhomes / Villas, 2-4 Unit Multi-Family Homes, Condominiums (warrantable condos only)
• Ineligible Home Types:  Manufactured Homes, Modular Homes, Mobile Homes, Raw Land, Condotels, Log Homes, Dome Homes, Tiny Homes, Commercial Mixed-Use
• Loan Type:  30 Year Fixed
• Prepayment Penalty:  None
• Minimum FICO:  620
• Maximum Loan Size: $726,200 for most areas of the country. To check your area, click HERE »

This loan is underwritten, approved, and closes in the same manner as any other conventional home loan.

The only difference is that we have no restrictions on your industry.

W2 WAGE-EARNERS

SELF-EMPLOYED

This program is designed for Business Owners in the Cannabis and hemp industries.  This includes businesses such as dispensaries, growers, devices, manufacturers, or any other facet of the supply chain.

➤  WHO IS THE IDEAL CANDIDATE?

 The ideal candidate for this program is an applicant who meets the following criteria:

1. You must be in business for at least 24 months.

2. Income must be verifiable:  We offer the following choices of income verification. If you receive income from multiple sources, they can be combined.

   1. Tax Return Income - most recent 2 years of Business as well as Personal Income tax returns
   2. Bank Statement Income - We can use the average deposit income from an average of your most recent 12-24 months.
   3. 1099 Income - if you are an independent contractor receiving 1099 wages from the same employer for the past two years, we can use up to 100% of your 1099 income, along with a letter from your employer stating that you have no job-related expenses

➤   KEY FEATURES

• Minimum Down Payment:  10%

• Occupancy:  Primary residence, Second/ vacation home, or investment homes.
• Eligible Home Types: Single Family Homes, Townhomes / Villas, 2-4 Unit Multi-Family Homes, Condominiums (warrantable or Non-Warrantable condos), Condotels on a case-by-case basis.
• Ineligible Home Types: Manufactured Homes, Modular Homes, Mobile Homes, Raw Land, Log Homes, Dome Homes, Tiny Homes, Commercial Mixed-Use
• Loan Type:  30 Year Fixed
• Prepayment Penalty: None for primary residence or second home
• Minimum FICO:  600
• Maximum Loan Size:  $3 Million

This loan is underwritten, approved, and closes in the same manner as any other standard home loan.

The only difference is that we have no restrictions on your industry.