Caliber Portfolio Lending
A suite of portfolio products from Caliber Home Loans!
Expanding homeownership Options At Caliber Home Loans, Inc. we are providing more products, more choices, and more advantages for buyers who can demonstrate the ability to repay.
Portfolio Lending products include: Premier Access
Provides innovative credit solutions for borrowers looking for loan amounts up to $3,000,000 with competitive guidelines including LTV ratios up to 90% with no MI, DTI to 50%, and an Interest-only option. Eligible income documentation can include restricted stock units and asset depletion.
Homeowner’s Access
Designed to help borrowers to achieve or re-establish homeownership. With DTI ratios in excess of 50% and BK, Short
Sale, Foreclosure, Mortgage Charge-off, or Deed-in-lieu > 24 months seasoning, qualified borrowers may be able to access financing that is not readily available to them previously.
Fresh Start
Tailored for borrowers that have been prevented from achieving mortgage financing due to a recent short sale, bankruptcy, foreclosure, or deed-in-lieu.
Investment
With maximum loan amounts up to $2,000,000, FICO scores as low as 620, and unlimited financed properties for qualified investment borrowers — the investor product may be just what your buyers need to finance their investment properties.
Call today for more info on all of our products! Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, FL 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
CALIBERHOMELOANS.COM
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited.Not all products offered in states of NY, ME, MA.
I N T R O D U C I N G
Caliber Portfolio Lending A suite of portfolio products from Caliber Home Loans!
FRESH START Over the past few years, many hard-working people lost their homes or were forced into bankruptcy due to a layoff or reduced income. They have since rebuilt their credit and are able to demonstrate their ability to repay. For these borrowers who may be unable to obtain mortgage financing due to seasoning or other requirements, Fresh Start from Caliber Home Loans, Inc. may be the lending solution they have been looking for.
Loan Features: No seasoning requirement for BK, foreclosure, deed-in-lieu or short sale No mortgage or rental pay history required Minimum credit score 580 DTI up to 50% LTV up to 85% Loan amounts $100,000 to $1,000,000 Purchase money, rate term, and cash-out refinance No pre-payment penalties 100% gift funds from family members for down payment or reserves
Call today for more info on all of our products! Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, TX 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
CALIBERHOMELOANS.COM
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited. Not all products offered in states of NY, ME, MA. Residential Mortgage Loan Originator
I N T R O D U C I N G
Caliber Portfolio Lending A suite of portfolio products from Caliber Home Loans!
HOMEOWNER'S ACCESS Caliber Home Loans, Inc. is pleased to offer disciplined credit alternatives for borrowers who can demonstrate the ability to repay, but otherwise don’t meet agency guidelines due to various reasons, including: Prior housing/credit events High DTI ratios Non-traditional credit histories
Lack of mortgage or rental history 100% gift funds allowed
Homeowner’s Access can help more borrowers achieve homeownership for the first time, or help them re-establish homeownership after a housing/credit event.
Loan Features Loan amounts up to $1,500,000 90% Max LTV with no MI Short sale, deed-in-lieu, mortgage loan charge-
off, foreclosure, BK 7 or 13 allowed > 24 months
DTI of 50% Purchase money, rate/term and cash-out refinance
Non-warrantable condominiums including condotels
Unlimited number of financed properties allowed
5/1 ARM and 30-year Fixed options available Minimum FICO 610 100% gift funds from family members First time homebuyers allowed No pre-payment penalties Rent-free borrowers allowed $500,000 max cash back up to 80% LTV and 660 FICO
Non-traditional credit histories may be accepted
with purchase of a primary residence
Multiple housing events allowed Call today for more info on all of our products! Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, TX 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
CALIBERHOMELOANS.COM
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited. Not all products offered in states of NY, ME, MA. Residential Mortgage Loan Originator
I N T R O D U C I N G
Caliber Portfolio Lending A suite of portfolio products from Caliber Home Loans!
PREMIER ACCESS Caliber Home Loans, Inc. is pleased to offer our Premier Access product — one of the innovative offerings as part of our portfolio lending products. Designed to serve borrowers who are looking for a higher loan amount, with competitive guidelines, and who can demonstrate the ability to repay.
Some of our Premier Access features include: LTV ratios up to 90% with no MI
DTI up to 50%
Loan amounts from $100,000 to $3,000,000
5/1 ARM and 30 year fixed options available
Interest-only option
Unlimited number of financed properties on
Purchase money, rate term and cash-out refinance
primary residence
Non-warrantable condominiums including condotels
85% LTV on a cash out refinance $750,000 max cash back
Delayed financing treated as rate term No pre-payment penalties
Eligible income sources can include restricted stock units and asset depletion
Minimum FICO 650 Call today for more info on all of our products! Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, TX 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
CALIBERHOMELOANS.COM
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited. Not all products offered in states of NY, ME, MA. Residential Mortgage Loan Originator
I N T R O D U C I N G
Caliber Portfolio Lending A suite of portfolio products from Caliber Home Loans!
INVESTMENT With maximum loan amounts up to $2 million, FICO scores as low as 620, and unlimited financed properties for qualified investment borrowers, the Investment product may be just what your homebuyers need to finance their investment or rental properties. This product is one more example of Caliber Home Loans, Inc. mission to bring innovative solutions to the mortgage marketplace.
Loan Features: Loan Amounts up to $2 million Maximum LTV 85% up to $1.5 million Minimum FICO 620 Unlimited financed properties permitted Low minimum loan amount of $100,000 Purchase money, rate/term and cash-out refinance
Delayed financing treated and priced as rate/term
Cash-out allowed up to $350,000 and 80% LTV Model home leaseback allowed 6% seller contributions 5/1 ARM and 30-year fixed terms available No Pre-Payment penalties
Call today for more info on all of our products! Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, TX 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
CALIBERHOMELOANS.COM
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited. Not all products offered in states of NY, ME, MA. Residential Mortgage Loan Originator
Caliber’s Seasoning Policy for Bankruptcies, Foreclosures and Short Sales PROGRAM
FORECLOSURE
BANKRUPTCY
SHORT SALE
Conventional (Fannie Mae)
7 years from completion
Ch. 7 – 4 years from discharge/dismissal Ch. 13 – 2 years from discharge/4 years from dismissal
4 years from completion
Conventional (Freddie Mac)
For Accept Mortgages, Product Advisor has evaluated the borrower’s credit reputation and determined that the credit reputation is acceptable.
For Accept Mortgages, Product Advisor has evaluated the borrower’s credit reputation and determined that the credit reputation is acceptable.
For Accept Mortgages, Product Advisor has evaluated the borrower’s credit reputation and determined that the credit reputation is acceptable. No seasoning if: Borrower made all mortgage/ installment payments within the month due for 12 mos. prior to the short sale, AND n Made all mortgage/installment payments within the month due for the 12-mo. period preceding the date of the loan app for the new mortgage. n 3 years seasoning from completion date required if in default at time of sale. 2 years from completion
n
FHA
3 years from completion date; FHA pays the initial claim and clears CAIVRS
Ch. 7 – 2 years from discharge – AUS approval Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
VA
2 years from foreclosure date
Ch. 7 – 2 years from discharge Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
USDA
3 years from completion
Ch. 7 – 3 years from discharge Ch. 13 – 1 year of payment period must have elapsed with satisfactory payment performance and permission from the court
Caliber Jumbo
7 years from completion
7 years from discharge/dismissal
Fresh Start
No seasoning requirement No seasoning requirement
No seasoning if: Borrower made all mortgage/ installment payments within the month due for 12 mos. prior to the short sale, AND n Made all mortgage/installment payments within the month due for the 12-mo. period preceding the date of the loan app for the new mortgage. n
7 years from completion No seasoning requirement
Homeowner’s Access
2 years from completion
Ch. 7 – 2 years from discharge/dismissal Ch 13 – 2 years from filing date
2 years from completion
Premier Access
4 years from completion
Ch. 7 – 4 years from discharge/dismissal Ch 13 – 4 years from filing date
4 years from completion
Investment
2 years from completion
Ch. 7 – 2 years from discharge/dismissal Ch 13 – 2 years from filing date
2 years from completion
Dennis Hearing
Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, TX 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing
Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 (NMLS #15622). 1-800-401-6587. Copyright©2017. All Rights Reserved. Equal Housing Lender. For real estate and lending professionals only and not for distribution to consumers. This communication may contain information that is privileged, confidential, legally privileged, and/or exempt from disclosure under applicable law. Distribution to the general public is prohibited. Residential Mortgage Loan Originator Not all products offered in all states. Residential Mortgage Loan Originator
Caliber Portfolio Lending Product Overview Effective 06/15/2017
PREMIER ACCESS
Min/Max Loan Amount
HOMEOWNER'S ACCESS
FRESH START
INVESTMENT
$100,000 - $1,000,000
$100,000 - $2,000,000
Owner Occupied & Second Home
Occupancy $100,000 - $3,000,000
$100,000 - $1,500,000
Investment
Program Min FICO
650
610
580
620
Max LTV
90% (NO MI)
90% (NO MI)
85% (NO MI)
85% (NO MI)
Max DTI Amortization Term
Reserves by LTV
Loan Purpose/Max LTV
50%
50%
50%
43%
30 Year Fixed 5/1 ARM Interest Only ARM (to 80% LTV) 90% LTV - 9 months 85% LTV - 6 months 80% LTV - 3 months Purchase - 90% LTV R&T/Debt Cons. - 90% LTV Cash Out - 85% LTV
30 Year Fixed 5/1 ARM
30 Year Fixed 5/1 ARM
30 Year Fixed 5/1 ARM
90% LTV - 9 months 85% LTV - 6 months 80% LTV - 3 months Purchase - 90% LTV R&T/Debt Cons. - 90% LTV Cash Out - 80% LTV
85% LTV - 6 months 80% LTV - 3 months
85% LTV - 9 months 80% LTV - 6 months Add 6 months each addtl property Purchase - 85% LTV R&T - 85% LTV Cash Out - 80% LTV
Purchase - 85% LTV R&T/Debt Cons. - 85% LTV Cash Out - 80% LTV
Max Cash Out
$750,000
$500,000
$350,000
$350,000
Property Types
Single Family 2-4 Units (Owner Occupied) Non-Warrantable Condo allowed
Single Family 2-4 Units (Owner Occupied) Non-Warrantable Condo allowed
Single Family 2-4 Units (Owner Occupied)
Single Family 2-4 Units Non-Warrantable Condo allowed
Bankruptcy Seasoning
0x30 last 12 months or Rent Free with Relative allowed BK13 - 4 years (from filing)
Up to 1x60 last 12 months or Rent Free with Relative allowed BK13 - 2 years (from filing)
NO History Required Rent Free with Relative allowed BK13 - no seasoning
0x30 last 12 months 12 months history required BK13 - 2 years (from filing)
*(No Multiple BK's Allowed)
BK7 - 4 years
BK7 - 2 years
BK7 - no seasoning
BK7 - 2 years 2 years seasoning
Housing Payment History
Derogatory Housing Events (Short Sale, Foreclosure, Mortgage Charge-Off, Deed-In-Lieu)
4 years seasoning
2 years seasoning
No seasoning Event must be completed
Multiple Derogatory Housing Events
Allowed (must be > 4 years)
Allowed (must be > 2 years)
Allowed (no seasoning)
Allowed (must be > 2 years)
Subordinate Financing
Not Allowed
Not Allowed
Not Allowed
Not Allowed
Gift Funds
Allowed 100%
Allowed 100%
Allowed 100%
N/A
Prepayment Penalty
N/A
N/A
N/A
N/A
Assumable
N/A MA not allowed ME, NY Primary not allowed
N/A MA not allowed ME, NY Primary not allowed
N/A MA not allowed ME, NY Primary not allowed
N/A
State Restrictions
MA not allowed
Dennis Hearing Loan Consultant NMLS ID 892525 Mobile 954-648-4949 2255 Glades Road Suite 324A Boca Raton, FL 33431 dennis.hearing@caliberhomeloans.com www.caliberhomeloans.com/dhearing Caliber Home Loans, Inc., 1525 S. Beltline Rd Coppell, TX 75019 NMLS ID #15622 (http://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/15622). 1-800-401-6587. Copyright © 2017. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. If you are refinancing your existing loan, your total finance charges may be higher over the life of the loan. Other restrictions and limitations apply. Investment is the only product offered in the state of New York.