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Stated Loans

Below are the loan programs Direct Mortgage currently offers that allow stated or SISA documentation.  To see if your scenario qualifies, please log into DirectWare or call broker support at 800.924.3884
 
Program Number
Program Description
Program Type
Max Loan Amount
Max LTV/ CLTV
Min FICO
Occupancy Types
Purpose
Doc Types
Direct Approach 6067 Alt-A Fixed and LIBOR ARM (Interest Only)
Specialty – Niche
$4,000,000
80/100
640
OO/2nd/NOO
P/R&T/Exp‘d R&T/CO/DC
Full/Alt/Stated/No Ratio/No Doc with No AV
Solutions 6070 Fixed and LIBOR ARM (Interest Only)
Specialty – Niche
$4,000,000
97%
640
OO/2nd/NOO
P/R&T/Exp‘d R&T/CO/DC
Full/Alt/Stated/No Ratio/No Doc with no Asset Verification
Direct 2nd Lien HELOC 6076 Standalone Closed End and HELOC
2nd Lien
 
$1,000,000/
$2,500,000
100
(700 FICO)
620
OO/2nd/NOO
Purchase/RT/CO
Full/Stated/Fast
2nd Lien 6110
2nd Lien
$500,000
89.99%
620
OO/2nd/NOO
P/R&T/CO
Full/Stated
Direct 6115
Non-Conforming
$2,000,000
95%
660
OO/2nd/NOO
P/R&T/CO
Full/Stated
High LTV – No MI
Specialty – Niche
$1,000,000
100%
640
OO/2nd/NOO
P/R&T/CO
Full/Stated/No Ratio
Conforming SISA
Conventional/ Conforming
Conforming Loan Limit
90%
680
OO/2nd/NOO
P/R&T/CO
SISA
Hybrid Arm 3%
Specialty-Niche
$2,000,000
90%
640
OO/2nd/NOO
P/R&T/CO
Full/Stated/No Ratio/No Doc
Hybrid Arm 3.5%
Specialty-Niche
$2,000,000
90%
700
OO
P/R&T/CO
Full/Stated
Hybrid Arm 4%
Specialty-Niche
$2,000,000
90%
720
OO
P/R&T/CO
Full/Stated
Piggy Back Second
Specialty-Niche
$350,000
90%
660
OO
P/R&T/CO
Full/Stated/No Ratio
Non Conforming IO ARM
Specialty-Niche
$2,000,000
95%
680
OO/2nd
P/R&T
Full/Stated
 

Print | posted on Friday, September 14, 2007 11:15 AM

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