Sub Prime Core 7.0
- 1. Credit Grade “A” Up to LTV Rates / Points 700+ Fico 40% 6.750 / Par Mtg 0x30 (12 months) 50% 6.850 / Par No BK 3 Years 60% 6.950 / Par No Short Sale 2 years 65% 7.150 / Par No FC Last 3 years 70% 7.500 / Par Refinance 75% LTV 75% 7.750 / .25 Purchase 80% LTV 80% 7.950 / .50 Credit Grade “A-” Up to LTV Rates / Points 650+ Fico 40% 6.950 / Par Mtg 1x30 (12 months) 50% 7.150 / Par No BK w/in 3 years 60% 7.250 / Par No Short Sale 1 year 65% 7.500 / Par No FC Last 3 years 70% 7.750 / Par Refinance 75% LTV 75% 7.990 / .25 Purchase 80% LTV 80% 8.375 / .50 Credit Grade “B” Up to LTV Rates / Points 600+ Fico 30% 7.875 / Par Mtg 0x60 (12 months) 40% 7.990 / Par Short Sale 1 Day 50% 8.125 / Par No BK w/in 2 years 60% 8.375 / Par No FC Last 2 years 65% 8.625 / Par Refinance 70% LTV 70% 8.850 / .25 Purchase 75% LTV 75% 8.990 / .50 Credit Grade “B-” Up to LTV Rates / Points 550+ Fico 30% 8.500 / Par Mtg 1x60 (12 months) 40% 8.600 / Par Short Sale 1 Day 50% 8.700 / Par No BK w/in 1 years 60% 8.850 / Par No FC Last 1 years 65% 8.990 / Par Refinance 60% LTV Purchase 65% LTV Consumer Purpose Sub-Prime 7.0 CA, AZ, OR, ID, CO, UT & TX Only! Bringing Our Broker Community Structure & Sub Prime Lending Sophistication & Service Description 30 Year fixed rate 2nd Home N/O/O 2-4 Units < $150,000 > $500,000 > $750,000 Rural Properties Condotel Non warrantable Condos Rate buy down Point buy down Alt Doc (24 month bank statements) Alt Doc (12 month bank statements) Asset depletion This is not a commitment to lend. Restrictions may apply. For Wholesale use only! Not for distribution to the general public. LTV limits are based on current, accurate appraised value. Athas Capital Group reserves the rights to amend rates & guidelines. All loans are made in compliance with federal, state and local laws. Athas Capital Group, a California corporation, is a Department of Business Oversight Lender “DBO” (Lic# 603-F869). Athas Capital Group NMLS# 275237 See Our Hard Money Product For The Following!! <550 Ficos BK’s within 1 year Foreclosures within 1 year Major Mtg. delinquencies in 1 year Properties w/ deferred maintenance Stated Loans Loan Amounts < $50,000 Loan Amounts >$1,000,000 Rural Properties Commercial Properties Nick Donoho 877.877.1477 ext. 215 Ndonoho@AthasCapital.com www.athascapital.com October 20th 2014 Note None -5% LTV -5% LTV None None None -5% LTV Reduce LTV by 10% - (max ltv 65%) Max loan amount $500K Must be N/O/O or 2nd home – no additional reduction in LTV No reduction in LTV Max 2 points buy down Can’t trigger high cost mortgage None -5% LTV None Cost None None +25 bps None None None +25bps +50 bps None None +50 bps -25 bps +25 bps +25 bps +25 bps Rate +25 bps +12.5 bps +37.5 bps +25 bps +25 bps +12.5 bps +25 bps +50 bps None None -25 bps +50 bps +25 bps +25 bps +25 bps Area of Lending: CA, AZ, OR, ID, CO, UT & TX only. (No O/O refinances in TX) Property Types: SFR’s – Condos – Townhouses – 2 to 4 Units Condotels – NO area restriction Non warrantable condos – no add on and no reduction to LTV Property Condition: Property must show “Pride of Ownership” See Hard-Money product for properties that have deferred maintenance. Loan Terms: All loans are 7 year, interim fixed, variable rate 30 year fully amortized product. Index – 6 month Libor -- Margin 7.95% -- Caps 2/1/4 – Floor = Start Rate 30 year fixed option available. See add on section. Loan Amounts: $50,000 - $1,000,000 - O/O $50,000 - $500,000 - N/O/O (case by case exceptions above) Debt To Income ”DTI”: Gross Monthly Income Max DTI Under $2,000 35% $2,001 - $2,500 40% $2,501 - $4,000 45% Over $4,000 50% Income Documentation: Full Doc - W-2 & Paystub, 1040’s or Asset depletion Alt Doc - 24 or 12 months personal bank statement Asset depletion – 101% of loan amount. See Business Purpose product for “Stated Income” options. Down Payments: All down payment funds MUST be sourced in the last 60 days. Gift funds are acceptable up to 80% LTV – direct relative. Pre Pay Note: No pre-payment penalty on ANY consumer products. Short sales at minimum time lines can’t be indicative of larger credit issues and should be isolated incidents. Ancillary fees paid at closing: $995 Underwriting $150 review fee if Athas doesn’t order Appraisal Federal / State Tax Liens & Judgments: All income tax liens & judgments on credit must be paid through closing if they are in excess of $2,500. All tax liens and judgments on title must be paid. Minimum Rate = 6.750% Maximum Points: O/O Max combined points determined by state or local lending laws N/O/O Max broker points - 5% Owner Occupied Refinance ONLY: If APR is 6.5% or below APOR then lender/broker points and fees will be able to be financed into the loan proceeds. Otherwise lender & broker fees must be paid by borrower at escrow. Sub Prime Product Add-Ons / Reductions: