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).
- No employment verification
- Leave income blank on 1003
- No DTI calculations
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
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.