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ZUMA NON-QM

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

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 reserve on subject and 2-months reserve on each additional up to 12 months
  • No reserve required on debt consolidation when new payment is lowered by 10% and closing costs are recouped within 60 months
  • Cash in hand may be used to meet reserve 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
  • 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
  • FICOs from 580
  • Pricing on Grade A, B, B-, C, based on credit

ZUMA Investment

  • Up to 80% LTV to $1M
  • FICOs from 580

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 90%-95% of the value of the property for home improvement, savings, etc.

Let us help you with your business goals.