Nationwide Stated Income Loans

Property Types, Terms & Rates

Investor 1-4,
Condo,
& 2-4 Units

Multi-Family & Mixed-Use
5+ Unit Multi-Family
& Mixed-Use

Commercial
Office, Retail, Warehouse,
Self-Storage & Automotive

Fixed Term

3-Year                       8-Year 3-Year                   8-Year 3-Year                           8-Year

Loan-to-Value

Max 75%*                Max 75%* Max 75%              Max 75% Max 70%                       Max 70%

FICO ≥ 750

7.24%                        7.99% 7.74%                    8.49% 8.24%                             8.99%

FICO 700-749

7.74%                        8.49% 8.24%                    8.99% 8.74%                             9.49%

FICO < 700

8.24%                     8.99% 8.74%                    9.49% 9.24%                             9.99%

 

General Guidelines

Add 25 BPS to the rates shown below for all refinance transactions.

Purpose Purchase, Rate-Term Refinance, Cash-Out Refinance
Loan Amounts $200K – $5MM
Residential 1-unit maximum loan amount is $1.5MM
Residential 2-4 unit maximum loan amount is $2MM
Minimum loan amount on Multi-Family, Mixed-Use and Commercial is $200k
Term 30-year term, with loans fixed for first 3 years or 8 years
Amortization 30-year fully amortized loan
Credit Score 650 minimum (mid FICO)
Rebates 1-point rebate = .50% add-on to rate (Max rebate 2%. > 1YSP = 5% prepay)
Index / Margin / Caps WSJ Prime + 5%. Rate Caps = 2/1/6
Prepayment Penalty Investor 1-4: 3-year fixed = 3%, 3%, 3%, or 8-year fixed = 3%, 3%, 3%, 3%, 3%
Minimum prepay on
all loans = 1 year
Multi-Family, Mixed-Use and Commercial: 3-year fixed = 5%, 5%, 5%, or 8-year fixed = 5%, 5%, 5%, 5%, 5%
1-6 residential units in NJ = no prepay, add 1% to rate
1-4 residential units in NM = no prepay, add 1% to rate
Prepayment Buydown(s) For each year of buydown, add 1% to start rate OR 1% in fee.
Rate Buydown 1-point fee = .50% rate reduction (Maximum rate reduction is 1%) | Minimum Rate 5.24%
Prepayment Buy Up Reduce rate by .25% for each year added. Penalty increases to 5% for all years of prepayment term.
Broker Compensation Maximum is 5% of the loan amount, including all broker fees.

Underwriting Guidelines

 

Lending Locations nationwide. (For ineligible locations contact your Account Executive for details.)
Experience First time investor = 5% LTV reduction for all property types.
First time buyers are ineligible for investment 1-unit properties.
Income Verification Simple Documentation.
Asset Verification Source of funds required for all money brought into any transaction.
Appraisal Process & Fee Contact your account executive to learn about our streamlined process and cost.
Impounds Required for property taxes & insurance.
Foreign Investors 65% maximum LTV.
Loans < $250k Add 50 bps to the matrix rate for multi-family, mixed-use and commercial properties.
Rate Add-ons Add 25 bps to residential 1-4 rates for the following states: NY, PA, CT, NJ, FL.

Add 25 bps for all refinance transactions.

Investor 1-4 *75% LTV on purchases only with 650+ mid FICO. Investor 1-4 loans > $1mm = 70% max LTV.
CLTV 80% maximum CLTV.

All rates, programs, and pricing adjustments are subject to change at any time and without prior notice. This rate sheet is intended for use by real estate and mortgage lending professionals only and is not an advertisement under section 226.24 of regulation Z, and is not intended for use by the general public.

Questions?

Name*

Email*

Phone

Message

Click here for 2-minute loan questionnaire