REMN Wholesale has added Asset Qualifier to its Simple Access suite of products.
This program is designed for borrowers who are sound credit risks based on a common-sense approach to underwriting.
• Loan amounts up to $3.5MM
• Interest only feature available with no reduction to LTV
• No Income Documentation necessary
• Credit scores down to 620
• Recent credit events allowed with compensating factors
• All occupancy types allowed
• 5/1, 7/1, 10/1 ARM, 15yr Fixed and 30yr Fixed
• Multiple-financed properties
• Non-warrantable condos are allowed
Qualification is determined solely based on the borrower’s liquid assets and assets that they can liquidate without restriction.
Total liquid assets must meet the sum of the below:
• 100% of loan amount
• Closing costs and pre-paids
• Reserves required per program
• 60 months of total debt
Full product guidelines can be found on www.REMNWholesale.com.
Please contact your Account Executive with any questions.