Non-Agency Mortgages

Non-Agency Mortgages are issued as mortgage-backed securities by financial institutions as well as other private entities. These loans are not backed by the government.

Various non-agency mortgage solutions that SHS can offer you:

Jumbo Loans

Here are two examples of Jumbo loan products. Keep in mind that there are several other options that are available. To learn more contact SHS.

Example 1

Borrowers can qualify for up to $2 million. This is available for many different property types and with multiple fixed and adjustable rate options.

• 700+ FICO for primary residences
• Up to 90% LTV with no PMI
• 15-year and 30-year fixed
• Primary and secondary homes allowed
• $417,001 ­– $3,000,000 loan amounts
• 5, 7, and 10-year ARMs available

Example 2

This loan program is designed for for non-QM Jumbo loans.

• DTI range of 43.01% – 50.00%
• Loan amounts from $300,000 – $2,000,000
• 700+ FICO
• Both primary and secondary homes allowed
• Cash-out loans available
• LTVs as high as 75%

Pledged Asset Loan Program

The Pledged Asset Loan Program allows up to 90% financing of the property value (the lesser of the appraised value or the purchase price). A borrower can eliminate the need to liquidate assets to meet down payment requirements by pledging available assets. This helps by avoiding capital gains taxes associated with such liquidation and you can maintain a much more liquid financial position and continue to benefit from earned interest, appreciation and dividends associated with your pledged assets.

Asset Depletion Program

With the asset depletion program you can use your IRA or investment accounts to make up for a shortfall in income needed to qualify. This allows for a set monthly distribution to the lender. You must show that your investment accounts can support distribution payments for the next 36 months.

Foreign National Loans

Foreign National Loans are loans for up to 60% LTV . We do not restrict which country that you are from, as some other lenders do.

Requirements:

• The purchase must be a second home
• Investment properties are decided on a case by case basis.
• Must provide 2 years of income documentations from their country of origin.
• Provide 2 years of tax documents, from their country of origin, to prove income. If their country does not require tax filings we will accept certain other income verifications.
• Must have a valid passport.
• Requires asset verification from a worldwide banking institution, which would be defined as a bank that can easily be verified through 3rd party means and alternate credit references if a credit report is not available.
• TIN number or social security number for borrower, if borrower does not have a TIN number one is not required.

Contact the specialists at Sorci Home Solutions to learn more. We will discuss with you your options and find the mortgage product that will best suit your needs.