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WHO IS THE IDEAL CANDIDATE FOR OUR P&L LOAN?
At a Glance
Minimum Down Payment
20% - for loan sizes ranging from $100,000 - $726,200 (requires a minimum TransUnion score of 660+)
25% - for loan sizes ranging from $100,000 - $726,200 (requires a minimum TransUnion score of 600+)
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20% - for loan sizes ranging from $726,201 - $825,000 Million (requires a minimum TransUnion score of 640+)
20% - for loan sizes ranging from $825,000 - $1.25 Million (requires a minimum TransUnion score of 680+)
25% - for loan sizes ranging from $825,001 - $1.25 MM (requires a minimum TransUnion score of 680+)
MI (Private Mortgage Insurance)
None
Minimum TransUnion credit score
600 (LTV may vary, see above)
Min/ Max Loan Amount
$100,000 - $1.25MM
Loan Repayment Terms
30 Year Fixed Rate
25 Year Fixed Rate
20 Year Fixed Rate
15 Year Fixed Rate
Prepayment Penalties
None for Owner-Occupied Homes or Second Homes.
Investment properties Only - 6 months interest on 80% of the original principal balance
Recent Housing Events
1 day minimum
Max Seller Contributions
6% for Owner-Occupied or Second Homes
2% for Investment Homes
Escrows
Escrows for Property Taxes and Home Insurance are required
Acceptable Property Types
Single Family, Townhome/ Villa/ Condominium (No High rises), Multi-Family
Occupancy
Owner Occupied / Second Home/ Investment
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.