Newfi Wholesale Product Gallery

Newfi Wholesale Products

Newfi Wholesale offers a variety of products to fit borrowers’ needs. With in-house decision-making and innovative options, look no further than Newfi Wholesale.

SEQUOIA PORTFOLIO PLUS

With Sequoia, we make all credit decisions and exceptions in house, providing flexible qualification and faster approvals.

  • Option for 40-year fixed rate term with 10-year IO
  • Borrow up to $2.5 million
  • Smart asset depletion guides – assets divided by 120 months
  • 4 year seasoning for BK, foreclosure, short sale or deed in lieu
  • One year income documentation OK for Self-Employed and basic W-2
  • Credit Scores as low as 660
  • Multiple options for tradeline qualification
  • Owner Occupied up to 95%, Investment Properties to 80%
  • Use Cash Out for Reserves
  • DTI up to 55% (purchase, rate & term)
  • 12- and 24-month bank statement program

SEQUOIA PORTFOLIO EXPANDED

All Sequoia Portfolio Plus features, as well as higher LTV limits, lower credit scores and shorter recovery time between major credit events.

  • Borrow up to $2.5 million
  • Multiple options to meet tradeline requirements
  • 3-year seasoning for BK, foreclosure, short sale or deed in lieu
  • Smart asset depletion guides – assets divided by 120 months
  • One year income documentation OK for Self-Employed and basic W-2
  • Relaxed housing payment history
  • Reduced reserve requirements
  • 12- and 24-month bank statement program

SEQUOIA INVESTOR PRO

Designed for borrowers who have an investment property portfolio, and need alternative means to qualify for an investment property loan.

  • Qualification based on subject property Debt Service Coverage Ratio (DSCR)
    • DSCR = Gross Rent/PITI
    • 2 ways to qualify
      • DSCR >= 1.15 (DSCR = Gross Rent / PITI)
      • No Ratio (not using subject property rent to qualify)
  • Purchase or Rate & Term up to 80% LTV
  • Cash out up to 75%
  • Minimum credit score of 620
  • 3/1 & 5/1 ARMs
  • Interest only available
  • Prepayment penalties available 1-3 years
  • Escrows are required
  • No income or employment verification (cash to close must be verified)
  • No reserve requirement

SEQUOIA CPA

Sequoia CPA allows self employed borrowers to qualify their income based on a CPA prepared P&L over a 12 month period. Tax returns not required!

  • Qualify using CPA prepared P&L covering the past 12 months
  • Loan amounts up to $2,000,000 on purchase and R&T transactions
  • Cash out loan amounts to $1,500,000 with up to $1,000,000 cash to borrower
  • 4 years seasoning from foreclosure, short sale, BK or DIL
  • Flexible tradeline requirements
  • Non occupant co-borrower with true blended ratios OK
  • OK to use cash out proceeds for reserves
  • 5/1, 7/1 and 30yr fixed terms
  • Qualify using CPA prepared P&L covering the past 12 months
  • Loan amounts up to $2,000,000 on purchase and R&T transactions
  • Cash out loan amounts to $1,500,000 with up to $1,000,000 cash to borrower
  • 4 years seasoning from foreclosure, short sale, BK or DIL
  • Flexible tradeline requirements
  • Non occupant co-borrower with true blended ratios OK
  • OK to use cash out proceeds for reserves
  • 5/1, 7/1 and 30yr fixed terms

YELLOWSTONE JUMBO

No appraisal fee charged on competitively-priced jumbo to $3 million.

  • Borrow up to $3 million
  • Primary residence, second home, investment properties
  • Condos and Multifamily properties allowed
  • Eligible for credit scores starting at 700

BISCAYNE JUMBO

For our best pricing and fast closing, Biscayne is your all-purpose jumbo loan option.

  • Borrow up to $3 million
  • Max LTVs: 90% purchase, 80% rate & term, 75% cash out (up to $500,000)
  • Credit scores: 680 for purchase/rate & term; 700 for cash out
  • Fully delegated: no investor-added conditions or timelines
  • Self-employed and investors OK

OLYMPIC PIGGYBACK COMBINATION

Olympic 1st and 2nd Piggyback Combo helps borrowers obtain jumbo loan amounts while retaining lower agency pricing.

  • Purchase to 95% CLTV (restrictions apply)
  • 80/10 Rate & Term or Cash Out
  • 1st mortgage standard or high balance conforming
  • 2nd loan amounts: $25,000 – $250,000
  • Overlays to FNMA DU:
    • Maximum 43% DTI
    • Minimum 680 credit score
  • 1st mortgage term options:
    • Fixed: 30, 20, 15 and 10 years
    • ARMs: 7/1 and 5/1
  • 2nd mortgage terms options: 30 or 15 years
  • Primary residence or second home OK
  • Fully delegated with both loans underwritten concurrently

FHA LOANS

Low down payments and reduced credit requirements for first-time and experienced homebuyers.

  • AUS or manual underwrite
  • Credit scores as low as 580
  • Down payments as low as 3.5%
  • Gift funds can cover 100% of down payment and closing costs
  • Up to 85% cash out
  • 3 years seasoning for foreclosure or deed-in-lieu

FHA STREAMLINE REFINANCING

Allows homeowners with an existing FHA loan to refinance without an appraisal or certain other documentation.

  • No appraisal required
  • Credit scores as low as 580
  • No income/employment verification required
  • Reduced documentation needs