Nations Direct Mortgage

2nd

Purchase or Refi - perfect for borrowers that need cash-out without refinancing their low rate first

Non-QM 2nd Highlights

  • Min FICO® Score 660
  • CLTVs to 90%
  • Increased Loan Amounts to $850,000*
  • Primary, 2nd Home & NOO Accepted
  • Combined loan amounts to $5 million
  • Full Doc, Bank Statement and 1099 income Options
  • 1-4 Family Home
  • Fixed Rate, Fully Amortized – 10, 15, 20 & 30 year
  • DSCR Product available with a factor of 1.00 or greater (Experienced Investors only)
  • AVM and Property Condition Inspection option instead of a Full Appraisal on loan amounts </= $400,000 and non-HPML loans

*Included in the program enhancements

Premier Non-QM 2nd Highlights

  • Superior Pricing for well qualified Full Doc borrowers
  • Loan amounts to $500,000
  • Up to 80% CLTV
  • 700 Minimum FICO®
  • Bank Statement Product available
  • Expanded DTI to 50%
  • AVM and Property Condition Inspection option instead of a Full Appraisal on loan amounts </= $250,000 and non-HPML loans

Non-QM 2nd Enhancements

  • Asset Depletion now allowed with Full Doc, Bank Statements, and 1099 income
  • Vacant property restriction removed on DSCR
  • Rural primary residences now eligible up to 80% CLTV
  • DTI ↑ to 50% behind Interest-Only 1st Mortgages
  • Improved refinance seasoning: prior refi now allowed ≤ 6 months at max 80% CLTV

Resources

Click Here for Custom White Label Flyers

NonQM 2nd Matrix

Premier NonQM 2nd Matrix