Details
Solutions for independent contractor borrowers
- Utilize 1 or 2 years of 1099s
- LTVs up to 90 on purchases and 80 on cash-out refinances
- DTI up to 50
- FICO down to 620
- Primary Residences, Second Homes, and Investment Properties
- Loan Amounts up to $3MM
- Two years out of a credit allowed
- Supplemental full doc income allowed
- 1x30x12 allowed
- 1-4 unit properties, warrantable condos, PUDs, certain mixed use properties, non-warrantable condos/condotels, and manufactured homes allowed
- No limit on cash out up to 75 LTV, $500k above
- Two year history of independent contracting required, less considered on exception
- Primary earner FICO score utilized
- Temporary buydowns allowed
