Travis Du Bois
590 Posts |
 Posted - 05/22/2008 : 4:37:54 PM
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Jumbo Special 1st and 2nd
Full doc only
Owner Occupied – Purchase & Rate/Term
1 & 2 units:
95/95 CLTV, $500,000, 680 FICO with a 2nd loan amount up to $100K
90/95 CLTV, $650,000, 640 FICO with a 2nd loan amount up to $100K (660 FICO required for 2nd)
80/95 CLTV, $1,000,000, 660 FICO with a 2nd loan amount up to $100K
75/85 CLTV, $1,500,000, 700 FICO, with a 2nd loan amount up to $100K
70/80 CLTV, $2,000,000, 700 FICO, with a 2nd loan amount up to $100K
3 & 4 units:
75/80 CLTV, $1,000,000, 660 FICO
70/80 CLTV, $2,000,000, 700 FICO
Owner Occupied – Cash-out
1 & 2 units:
80/90 CLTV, $650,000, 640 FICO with a 2nd loan amount up to $100K (660 FICO required for 2nd)
75/90 CLTV, $1,000,000, 660 FICO with a 2nd loan amount up to $100K
75/85 CLTV, $1,500,000, 700 FICO with a 2nd loan amount up to $100K
65/80 CLTV, $2,000,000, 700 FICO with a 2nd loan amount up to $100K
3 & 4 units:
70/80 CLTV, $1,500,000, 660 FICO
65/80 CLTV, $2,000,000, 700 FICO
2nd Home – Purchase & Rate/Term (1 unit only)
90/95 CLTV, $450,000, 640 FICO with a 2nd loan amount up to $100K (660 FICO required for 2nd)
80/95 CLTV, $650,000, 640 FICO with a 2nd loan amount up to $100K (660 FICO required for 2nd)
75/90 CLTV, $1,000,000, 660 FICO, with a 2nd loan amount up to $100K
70/85 CLTV, $1,500,000, 700 FICO, with a 2nd loan amount up to $100K
65/80 CLTV, $2,000,000, 700 FICO, with a 2nd loan amount up to $100K
2nd Home – Cash-out (1 unit only)
80/90 CLTV, $650,000, 640 FICO with a 2nd loan amount up to $100K (660 FICO required for 2nd)
75/90 CLTV, $1,000,000, 660 FICO with a 2nd loan amount up to $100K
75/85 CLTV, $1,500,000, 700 FICO with a 2nd loan amount up to $100K
65/80 CLTV, $2,000,000, 700 FICO with a 2nd loan amount up to $100K
Non-Owner Occupied – Purchase and Rate & Term (1 unit only)
70 LTV, $650,000, 680 FICO
65 LTV, $1,000,000, 680 FICO
Non-Owner Occupied – Cash-out (1 unit only)
65 LTV, $650,000, 680 FICO unit
NO DECLINING MARKET RESTRICTIONS
• LTV is allowed to 80% for loans with subordinate financing. Greystone's Piggyback Second mortgage product may not be available to the posted CLTV limits. Refer to Jumbo Special Piggyback Second Matrix for availability.
• Combined loan amounts greater than $1,000,000 will require two full appraisals.
• Maximum DTI is 45% for all loans on the Jumbo Special product.
• If the borrower plans to rent his existing home after closing, they must provide an executed lease that confirms the tenant will occupy the house within 30 days of closing and have 2 months cash reserves for the home to be rented, in addition to reserve requirements posted
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