Experienced Investor
A borrower who has owned 2 or more properties for 12 months during the most
recent 36-month period. One property must be an income producing property
(commercial or residential).
First Time Investor Allowed
Must have owned a property for 12 months during the most recent 36-month period
Min FICO 640
MAX 75% LTV
No mortgage late payments
More than 36mos from any major credit event
No cash-out
Employment/Income
No employment verification
Leave income blank on 1003
No DTI calculations
Use The Lesser of 10067 Rents or Lease Agreement
Use of higher lease agreement allowed with 2 months proof of receipt
Unleashed properties accepted for purchase only, use 1007 rent estimate
5% LTV reduction on refinance if appraisal reflects any vacant unit
Short term rentals (Air BNB/VRBO) income allowed with a 5% LTV reduction. Need 12-month history.
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