Stated Income Verified Assets

SIVA Select

Purchase/ Refinance

• O/O or N/O/O 70% LTV on Purchase 65% R/T & 50 LTV cash out  to $5M.
• R/T, Cash Out, Purchase 
• Rates start at 5.99%
• SFR 1-4, Condo’s + PUD’s (Warrantable Only ((Freddie-Mac Guidelines)).
• 700 Mid Fico Score.
• No history of BK, FC, SS, Charge-Off’s, Tax Liens.
• Max 1×30 in past 12 months.
• With qualifying Reserves, no DTI calculation and no Seasoning of Employment Requirement.
  • Reserves:
    • 6 months reserves of subject plus 2 months reserves of each additional property owned and financed, Sourced & Seasoned for 2 months with qualifying Income Documentation (CPA Letter or VOE).
    • 12 months reserves Sourced and Seasoned for 2 months when Borrower owns at least 1 other property than Subject and then qualifies with NO DTI REQUIREMENT.
    • 24 months reserves Sourced and Seasoned for 2 months when  Borrower does not own any other properties than Subject and then qualifies with NO DTI REQUIREMENT.

• Self-Employed and Wage Earner borrowers accepted.
• No Pre-Payment Penalties.
• Gift Funds allowed.  Minimum 5% of Purchase Price + Reserves must be Borrower’s own funds
• Sourced and Seasoned for 2 months.
• No max properties owned/financed, 8 max properties on NOO owned and financed. Free and Clear properties and Commercial properties are exempt.