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VENICE NON-AGENCY JUMBO:
Dynamic Lending Options – Self-Employed & Borrowers with Credit Issues

Features of our Venice Non-QM Purchase:

  • Loan amounts: $125K to $2.5M
  • Foreclosure/bankruptcy/short-sale/loan modification with one-year seasoning
  • 5/1 & 7/1 ARM with interest-only options
  • Non-warrantable condos
  • Gift funds permitted for investment
  • FICOs from 650
  • Maximum LTV up to 80%
  • Debt-to-income ratio up to 50%, subject to residual income
  • Full-doc and asset depletion qualifications
  • Unlimited cash out subject to maximum LTV/CLTV

 

FOREIGN NATIONALS

  • Only 2 credit references required
  • 6-months reserve required on subject property
  • Funds for down payment and closing can be wired directly to the title company. Only the reserve requirement needs to be deposited into a U.S. account prior to closing.
  • Translation does not need to be certified (must be from a third party)
  • Gift funds permitted after 10% from borrower’s own funds
  • Increased party contribution up to 5%

 

 
 

What kind of borrowers are suitable for the VENICE NON-QM Program?

All kinds of borrowers are suitable for our Venice Non-QM program, but you may find the most success with self-employed borrowers:

  • Self-employed needing to qualify bank statements
  • Borrowers with credit events, but have excellent credit history since the event
  • Foreign Nationals looking for competitive rates