Jumbo
Credit Requirements
Tradelines
Minimum three traditional tradelines with at least 24 months reviewed
– At least one active tradeline in the most recent six months
– Remaining two may be open or closed
– No significant adverse credit permitted with any of the three
Mortgage History
– Zero lates in the last 12 months on all real estate owned
– Zero forbearance within the last 12 monthsÂ
Rental History
– Zero lates in the last 12 months
Contingent liabilities
– Can only be excluded from the debt to income ratio(s) with proof the borrower is not the primary obligor
– Zero lates in the last 12 months
Derogatory Event | Discharge/Dismissal |
|---|---|
Bankruptcy — Chapter 7 or 13 | 7 years |
Foreclosure, Deed-in-Lieu of Foreclosure | 7 years |
Loan Modification | 7 years |
Pre-foreclosure/Short Sale | 7 years |
Charge-Off of Mortgage Account | 7 years |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $1,000,000 | 680 | 720 | Primary Residence |
1 | $2,000,000 | 680 | 720 | Primary Residence |
1 | $2,000,000 | 660 | 700 | Primary Residence |
1 | $2,500,000 | 720 | 720 | Primary Residence |
1 | $3,000,000 | 740 | 740 | Primary Residence |
2 | $2,000,000 | 680 | 720 | Primary Residence |
2 | $2,000,000 | 660 | 700 | Primary Residence |
2 | $2,500,000 | 720 | 720 | Primary Residence |
2 | $3,000,000 | 740 | 740 | Primary Residence |
3-4 | $2,000,000 | 680 | NA | Primary Residence |
3-4 | $2,000,000 | 660 | NA | Primary Residence |
3-4 | $2,500,000 | 720 | NA | Primary Residence |
3-4 | $3,000,000 | 740 | NA | Primary Residence |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $1,000,000 | 680 | 700 | Primary Residence |
1 | $2,000,000 | 680 | 700 | Primary Residence |
1 | $3,000,000 | 740 | 740 | Primary Residence |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $2,000,000 | 680 | 740 | Second Home |
1 | $2,000,000 | 660 | 700 | Second Home |
1 | $2,500,000 | 720 | 720 | Second Home |
1 | $3,000,000 | 740 | 740 | Second Home |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $2,000,000 | 700 | 700 | Second Home |
1 | $3,000,000 | 740 | NA | Second Home |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $1,000,000 | 680 | 720 | Investment Property |
1 | $2,000,000 | 660 | NA | Investment Property |
1 | $2,500,000 | 720 | NA | Investment Property |
Number of Units | Loan Amount | Credit Score Fixed | Credit Score ARM | Occupancy |
|---|---|---|---|---|
1 | $2,000,000 | 680 | 740 | Investment Property |
1 | $2,000,000 | 660 | NA | Investment Property |
1 | $2,000,000 | 660 | NA | Investment Property |
