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Scenario Desk Executive:
Tony Lara – email@example.com
3 tradelines reporting for 12+ months, w/activity in last 12 months OR 2 tradelines reporting for 24+ months w/activity in last 12 months. Same applies to Foreign Nationals or Non-Perm.
Tax Returns require all pages, all schedules. Bank Statements require complete 12 or 24 months. (Business requires borrower prepared P&L or CPA expense ratio letter)
Borrower Contribution on Purchase are 5% of their own funds (10% for Jumbos, No Housing History or Limited Tradelines). Gift funds are allowed from relatives, not allowed on Investments. Reserves are required on all loans except Investor Advantage (Gift Funds and Cash-Out can be used for Reserves). Cash-Out Refinance - if property was listed within last 6 month, LTV reduced by 10%. Bank Statements not allowed on Foreign Nationals.