New Lender- 95% conventional!!

I am pleased to announce that we are now approved with Sierra Pacific Mortgage.
Please contact Vicky with any questions and scenarios

Vicky JednakAccount Executive
Sierra Pacific Mortgage - Agency,FHA/VA & Jumbo
941-448-5682

95% conventional-
§ Great Pricing § SFR 1 Unit § Max loan amount $417k §
§ 680 FICO (with BPMI) § DU or LP approval OK §
§ Up to 55% DTI (with AU approval and comp factors) §
§ Multiple MI options available! (see below) §
MORTGAGE INSURANCE OPTIONS AVAILABLE
Retaining Current Residence: NO rental income can be used. Borrower must qualify with both
payments AND have 6 months reserves for both properties verified.
Credit:
· NO mortgage lates in the last 12 months
· NO more than 2x30 in the last 12 months revolving
· NO more than 1x30 in the last 12 months installments; NO major adverse in the last 12 months
(judgments, collections), BK’s/Foreclosures 48 months from “discharge” date.
Housing History: Housing history is required. VORS must be from major rental company.
Private party rent history must be 12 or 24 months cancelled checks based on tradelines.
Tradelines:
· 24 month + Housing = 2 tradelines open and active for 12 months
· 23 or less month housing = 3 tradelines open and active for 24 months
· Less than 12 months housing; exception basis only (most likely no).
Debt to Income: 55% must
have compensating factors.




Vicky JednakAccount ExecutiveSierra Pacific Mortgage - www.spm1.comWholesale Division - Agency,FHA/VA & Jumbo 941-448-5682