Our new Sequoia Portfolio Plus loan program means flexible qualification, in-house exception decisions, and fast approvals!
What’s exciting about Sequoia Portfolio Plus?
- We handle all underwriting and exceptions
- Flexible guideline qualification
- Live scenario desk for same-day decisions
- Low rates even for complicated credit situations
As a portfolio product, we can make exceptions to many of these criteria, provided there are compensating factors in reserves, income, or other areas.
- Loan amounts up to $2.0 million
- Purchase, refinance, and cash out
- Term options:
- 30 year fixed & 15 year fixed
- 40 year fixed with 10 year interest only period
- 7/1 ARM & 5/1 ARM (interest only available on both)
- LTV up to 85% (purchase), 75% (rate & term) or 70% (cash out)
- DTI up to 50% (purchase), 55% (rate & term)
- Credit scores as low as 680
- 4 years seasoning for bankruptcy, foreclosure, short sale or deed in lieu
- Owner-occupied, second homes, and investment properties
- 12 month bank statement program
Who is this product best for?
All kinds of borrowers are suitable for Sequoia, but you may find the most success with difficult-to-qualify borrowers like:
- High-asset borrowers needing exceptions on credit score, LTV, or DTI
- Self-employed borrowers
- Borrowers with credit events who also have excellent credit history since event
- Real estate investors with multiple properties
- Non-warrantable condos
Borrowers should have strong credit and personal financial strength to qualify for the best rates.