DSCR Program
NONI – Non Owner/No Income/No Job loan “the best DSCR loan in the country” with > 1.0 DSCR
- 80% LTV Purchase 700+ FICO
- 75% LTV R&T Refi 700+ FICO
- 75%C/O Refi 700+ FICO
- Maximum Loan Amount $3,500,000
- Cash in hand may be used for reserves on C/O
- Minimum 620 FICO
- No tradeline requirement with 3 FICO scores
- Condotels allowed
- Foreign Nationals allowed
- Nursing Facilities/Care Homes allowed
The NEAR NONI – Non Owner/No Income/No Job loan/No Ratio / No DSCR / <1.0 DSCR loan
- DSCR <1.0
- No minimum DSCR
- Minimum 660 Fico
- 75% LTV Purchase 700+ FICO
- 70% LTV R&T Refi 700+ FICO
- 70% LTV C/O Refi 700+ FICO
- Minimum Loan Amount $100,000
- No tradeline requirement with 3 FICO scores
- Condotels allowed
- Foreign Nationals allowed
- Nursing Facilities/Care Homes allowed
NONI65 – Non Owner/No Income/No Job loan – Expanded Options for borrowers with a 680+ fico and LTV 65% or less
- No Minimum DSCR
- 12 month housing history required
- 65% LTV purchase, R&T & C/O 680+ FICO
- No Reserves required
- Condotels allowed
- Foreign Nationals allowed
- Nursing facilities/Care Homes allowed
- No short term rental experience required to use short term rents
- 100% Gift Allowed with no restrictions
- Min loan amount $100,000
- Max loan amount $1,500,000
NONI58 – Non Owner/No Income/No Job loan for Residential 5-8 units
- 75% LTV Purchase – 700+ FICO
- 70% LTV R&T Refi and C/O Refi – 700+ FICO
- 70% LTV Purchase – 660 FICO
- 65% LTV R&T Refi & C/O Refi – 660+ FICO
- Minimum loan amount = $400,000
- Maximum loan amount = $2,000,000
- No tradeline requirement with 3 FICO scores
- 24 month credit event seasoning
- Mortgage history 0 x 30 x 24
- 5 year prepay penalty for a better rate
- Prepay options: 5, 4, 3, 2, 1
- Cash out up to $1,000,000
- DSCR >1.0 (use ITIA to calculate, if I/O option is chosen)
- Gift funds allowed
- ACH required for best rate – may be waived with rate add-on
- Mixed Use Allowed in 2 – 8 Units – Borrower may be the Business Occupant
