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Sunset Non-Agency Guidelines Update

The following changes were made to the guidelines: 

  • Updated LTV to 65% for unleased property on a refinance when loan amount < $1M, page 1
  • Added if property is considered rural, the max LTV is at 65%, page 1
  • Added that for Visas that are renewed, 2 years minimum is required following the closing date, page 5
  • Updated Asset Documentation stating that account statement needs to cover a 60 day period, page 9
  • Clarified that title must be in the borrower’s name at closing, page 11
  • Added that max points and fees is at 5%, page 14