Offering reasonable qualifications based on your assets
Through Homestar, this program provides a new and innovative financing solution to high net worth borrowers. Product highlights regarding asset qualification include:
- Employment and income not required to be disclosed
- Loan verification based on verified liquid assets
- Minimum FICO of 620
- Investment properties and second homes allowed
- 4506T not required
- Full asset documentation required for funds to close, reserves and qualifying asset requirements
- Asset levels in the verified accounts are expected to be consistent and sustained
- Assets can be cash in the bank, stocks, bonds, IRAs, 401Ks, mutual funds or retirement accounts
- Cash out from subject may be used towards reserves
- Gift Funds and Gift Equity allowed
- 15 & 30 year fixed, 5/1, 7/1, 10/1 ARM Interest only available on ARM’s
- Loan amount from $100,000 to $3,000,000
- No ownership seasoning requirement for cash out refinance