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ZUMA  is a new non-QM lending option that provides consumers the unique flexibility to get approved with 3, 12, or 24 months bank statements.  The ZUMA program features 2 levels, depending on credit qualifications, Zuma Prime and Zuma Credit Flex.

Have a look at the features of THE ZUMA NON-QM:

  • $75K to $5M

  • No seasoning requirement on settled derogatory credit, such as deed-in-lieu, bankruptcy, foreclosures and short sales

  • Minimum of 2-months reserves on subject and 2-months reserves on each additional up to 12 months

  • No reserves required on debt consolidation when new payment is lowered by 10% and closing costs are recouped within 60 months

  • Cash-out may be used to meet reserves requirements (restrictions apply)

  • Max DTI up to 55% (restrictions apply)

  • 1x120x12 mortgage late payments on Grade C

  • Non-occupant co-borrower allowed

  • Up to 20 financed properties (max 10 acres)

  • 5/1 & 7/1 ARM, 15- & 30-year fixed, with 30- and 40-year interest-only

ZUMA Prime -  For borrowers with good credit

  • Up to 95% LTV to $1.5M on Purchase and R&T min. 720 FICO

  • FICOs from 660

ZUMA Credit Flex -  For borrowers with less than perfect credit

  • Up to 90% LTV to $1.5M on Purchase and R&T min. 680 FICO

  • FICOs from 620

  • Recently settled BK 13 up to 85% LTV

  • Recently settled other BK’s, SS and F/C up to 70% LTV


What kind of borrowers are suitable for the ZUMA Program?

  • Borrowers who cannot meet the reserve requirements.

  • Borrowers with credit challenges that are unable to qualify on conventional standards

  • Borrowers who do not qualify on conventional income requirements

  • Borrowers who need to pull maximum cash in hand up to 85% of the value of the property for home improvement, savings, etc.

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