It can be frustrating when one or two guidelines block a perfect borrower from qualifying for a perfect jumbo loan.
We call those Near-Miss Jumbos. And they’re why we created Sequoia Portfolio Plus – so more of those jumbos can find a fit.
With Sequoia, we make all credit decisions and exceptions, which means flexible qualification and faster credit decisions.
Here’s what our Sequoia Portfolio Plus can help you with:
- Guideline exceptions – Newfi makes the calls
- Loan amounts up to $2 million
- 40-year fixed with 10-year interest-only period – excellent payment relief
- Up to 50% DTI (purchase);
- Full Doc or 12-month bank statement
- 4-year seasoning on BK/Foreclosure/DIL/Short Sale
- Non-occupant co-borrowers allowed
- Business funds can be used for down payment, closing costs and reserves
- Asset depletion used for income with a 10-year calculation – allows you to decrease ratios
Read more about our Sequoia Portfolio Plus lending program.
Plus: Our FHA pricing is very strong! Check us out on LoanSifter and see!
Call us for pricing or scenarios. We’re here to help. We also have a convenient Submit a Scenario feature on our website. It’s a simple and fast way to to find the best product fit for your borrowers.