For Non Owner Occupied Properties: Go to Softer Hard Money
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Stated Income Jumbo Loan Requirements
Loan Types: 5/1 ARM and 7/1 ARM
Minimum Credit Score: 700
Loan to Value:
- 70% to Loan Amounts up to $1,000,000
- 60% on Loan Amounts above $1,000,000
Reserve Requirements:
- Loan amount <= $650,000, minimum liquidity = $100,000
- Loan amount > $650,000 to $1,000,000, minimum liquidity = $250,000
- Loan amount > $1,000,000 to $1,500,000, minimum liquidity = $500,000
- Loan amount > $1,500,000, minimum liquidity = $1,000,000 Cash equivalent securities / readily marketable securities may be used as verified liquidity Funds in a retirement account will not be included as verified liquidity
- Self-Employment Requirements:Must have been self-employed for a minimum of 2 years in same line of business