Sequoia Portfolio Plus: 1 Year Income Verification For Self Employed Borrowers

Newfi Wholesale Jumbos, Products

Newfi Wholesale’s Sequoia Portfolio Plus allows you to use one year of income documentation for self-employed or salaried W2 borrowers.

Here are some other highlights of Newfi’s recent guideline expansions:

  • Loan amounts up to $2.5 million for Owner;
    $2 million for NOO and 2nd Home
  • Income calculation can use asset depletion funds from checking, savings stocks, bonds, mutual funds, retirement accounts.
    Minimum $100k needed to use as income.
  • No minimum trade line requirement with 3 credit scores,
    LTV < 75% and 24 month housing payment history.
  • 12- or 24-month bank statements –
    personal or business options available
  • 40-year Interest-Only options
  • VRBO / AirBnB rentals allowed
  • LTV increased to 90% for Owner Occupied
  • LTV increased to 80% for Non-Owner Occupied
  • Credit Scores as low as 660, with exceptions down to 640
  • Revolving accounts paid off to qualify – no need to close the account
  • Expanded allowable Non Arms-Length purchase transactions
  • Good option for borrowers with high ratios that can be alleviated by an aggressive Asset Depletion guideline.
  • Ideal for borrowers who need make-sense exceptions

With our in-house approvals, we can make faster underwriting decisions without investor delays. Loans can be tailored to borrowers’ unique income and asset histories.