No Minimum Tradeline Requirement with Newfi’s Portfolio Plus

Newfi Wholesale Products

Have you ever had that perfect Jumbo client? Great scores, plenty of equity or down payment and good income, but they just don’t meet the minimum trade line requirements for most Jumbo loans? We’ve had that borrower too, and our Sequoia Portfolio Plus is the solution!

  • Must have 3 credit scores
  • Owner Occupied properties only
  • 0 x 30 on 24-month housing payment history
  • Max LTV/CLTV of 75% or 15 points under max allowed for loan amount and credit score
  • A minimum 10% borrower contribution has been made by the borrower from their own funds on purchase transactions
  • Allowed on 24 month income documentation only
  • Must have a satisfactory 24-month history of housing payments, borrowers with no current housing expense are not allowed

Some other great features of Sequoia Portfolio Plus include:

  • Loan Amounts to $2.5 million
  • 1 year tax returns or W-2 income qualification
  • Personal or business bank statement income qualification
  • 120-month asset depletion income
  • 40-year fixed rate with 10-year interest only period