Investment Property Purchases With 10% Down

The whole program on one screen

The fit screen

Every gate that decides whether a client qualifies - one unit or two to four.

Gate	One unit	Two to four units
Max LTV / CLTV	{{product.ltvMaxOneUnit}}	{{product.ltvMaxMultiUnit}}
Minimum down payment	{{product.downMinOneUnit}}	{{product.downMinMultiUnit}}
Min LTV / max down payment	{{product.ltvMin}} LTV, so no more than {{product.downMaxEligible}} down on any unit count
Max DTI	{{product.dtiMaxOneUnit}}	{{product.dtiMaxMultiUnit}}
Minimum FICO	{{product.ficoMin}}	{{product.ficoMin}}
Mortgage insurance	{{product.miRequired}}	{{product.miRequired}}
Occupancy	Investment property, purchase only
Terms	{{product.terms}}
Loan amount	{{product.loanMin}} minimum, up to {{product.loanMaxRule}} of {{product.loanHardCap}}

Available for locks beginning {{product.lockAvailableFrom}}.

The two minute screen

The buyer is purchasing a non-owner-occupied {{product.unitsRange}} unit property.
The down payment lands between {{product.downMinOneUnit}} on one unit ({{product.downMinMultiUnit}} on two to four units) and {{product.downMaxEligible}}.
Credit is {{product.ficoMin}} or better, and DTI lands at or under {{product.dtiMaxOneUnit}} on a single unit, {{product.dtiMaxMultiUnit}} on two to four.
The buyer already owns a primary residence and has documented reserves sitting behind the down payment.
Down payment and reserves are the buyer's own funds.

The buyer is putting {{product.downIneligibleAt}} or more down. Minimum LTV is {{product.ltvMin}}, so the larger down payment disqualifies the loan and standard agency financing applies instead.
The buyer is refinancing. Purchases only.
The buyer does not already own a primary residence and needs the subject's rental income to qualify.
The down payment is a gift.
The plan is short-term rental.
The property is a manufactured home, mobile home, co-op, or working farm.
The buyer already has {{product.maxLoansOutstanding}} loans outstanding under this program.
The buyer is a foreign national.

Clears the left column? The call is worth making. Lands in the right column? You just saved everyone a week.

Go deeper

Every gate, the counterintuitive minimum-LTV rule, worked scenarios, and what to send over on a live deal.

Questions on a live deal?