SUBJECT: Introducing REMN’s Jumbo Gold Product
DATE: May 26, 2023
REMN Wholesale is pleased to announce a new product, Jumbo Gold.
- Full product guidelines can be found at www.remnwholesale.com
- Jumbo Gold is eligible for brokered transactions only, and REMN must prepare the initial disclosures, no exceptions
|
Owner-Occupied Primary Residence Fixed Rate and ARM |
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|
Transaction Type |
Units | LTV/CLTV | Maximum Loan Amount | Credit Score | Maximum DTI |
Reserves |
| Purchase / Rate & Term Refinance |
1-2 |
80% |
$1,000,000 | 720 | 43% |
12 Months |
|
75% |
$2,000,000 | 720 | 41% | 18 Months | ||
|
70% |
$3,000,000 | 760 | 41% |
24 Months |
||
| 75% | $3,000,000 | 760 | 41% |
36 Months |
||
|
3-4 |
70% |
$2,000,000 | 720 | 43% | 18 Months | |
| 65% | $3,000,000 | 760 | 41% |
36 Months |
||
| Cash-Out |
1-2 |
70% |
$1,000,000 | 740 | 43% |
18 Months |
|
65% |
$1,500,000 |
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|
Second Home Fixed Rate and ARM |
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|
Transaction Type |
Units | LTV/CLTV | Maximum Loan Amount | Credit Score | Maximum DTI |
Reserves |
| Purchase / Rate & Term Refinance |
1 |
70% | $1,500,000 | 740 | 43% |
18 Months |
| Cash-Out |
Ineligible |
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|
Investment Property Fixed Rate and ARM |
||||||
|
Transaction Type |
Units |
LTV/CLTV | Maximum Loan Amount | Credit Score | Maximum DTI |
Reserves |
| Purchase / Rate & Term Refinance |
1 |
65% | $1,500,000 | 760 | 40% |
36 Months |
| Cash-Out |
Ineligible |
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**Please contact your Account Executive with any questions**