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No 4506 – 620+ FICO to $2.5 Mill – No Seasoning Cash Out – Bank Statements OK

April 29, 2014

NO4506T.flat.sm

5/1 ARM (1yr LIBOR Index/5/2/5 Caps/2.75 Margin/IO Available)

STANDARD DOCUMENTATION FEATURES

Purch – R/T Refi – Cash Out Refinance • No Seasoning Cash Out Refi

Non-Warrantable Condos on a case by case basis • No 4506 Required

Non-occupant Co-Borrowers are allowed • Tax returns not required for S/E

No Seasoning for cash out refinance • Assets are OK for income

12 month min seasoning for Foreclosure/Short Sale • Min 30% down from borrower

ALTERNATIVE DOCUMENTATION FEATURES

Self Employed 2 years in same line of work • No Seasoning Cash Out Refi

Fed 1040’s or 4506 NOT Required • No 4506 Required

12 Months personal bank statements for income • Tax returns not required for S/E

12 Month P&L for same period/borrower prepared • Assets are OK for income

Minimum 620 Credit Score • CPA letter to confirm 24 months S/E same line of work

Min 30% down from borrower

  • 1 unit SFR / PUD $1,000,000 55% 55% Max = 55% LTV
  • 1 unit SFR / PUD $2,500,000 50% 50% Max = 50% LTV
  • Condominium $1,500,000 50% 50% Max = 50% LTV
  • 2 to 4 Units $2,500,000 50% 50% Max = 50% LTV

Unseasoned Foreclosure/Short Sale <36 mos Add 0.50 to Rate

Read more about our loan programs by clicking here.

Email us your loan scenario at info@pmccanhelp.com or before you get a Hard Money Loan, give us a call at 800-385-3657.

Visit Our Website: http://www.pmccanhelp.com/

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