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NONI – Non Owner No Income

December 5th, 2019

NONI – Non Owner No Income

 

Program Highlights

  • No Pricing Adjustments for cash-out, units, IO, or condo

  • Qualify your DSCR off of the Note rate! If Interest Only, ITIA is used!

  • No Income/No Reserves/No Employment on 1003

  • Gift Funds Allowed

  • 3 Credit Tiers 680+ / 640-679 / & 620-639

  • $3,500,000 Max Loan Amount

  • $2,000,000 Max Cash Out

  • 80% Max LTV

  • 620 Minimum Credit Score

  • Qualification DSCR ≥ 1.0

  • Financed Properties No Limit on Number of Financed Properties

  • 3 Year Seasoning Foreclosure, Short Sale, Loan Modification, Deed in Lieu & Bankruptcy

  • Terms: Fixed, ARM & Interest Only Options

  • Soft Prepay Available

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