Do you have borrowers looking for lower initial payments? Newfi’s Sequoia Portfolio Plus offers a 10-year Interest-Only period at the start of a 40-year term. This gives payment relief while locking in today’s low rates for entire 40 year term, eliminating uncertainty when adjusting from IO to P&I payment.
It’s easier to qualify than most IO loans, because of its 40-year term. Underwriting decisions are done in-house with exceptions available.
- Loan amounts up $2.5 million
- 4 year seasoning for bankruptcy, foreclosure, short sale or deed in lieu
- One year income documentation OK for Self-Employed and basic W-2
- Smart asset depletion guidelines, with asset divided by 120 months
- Purchase, refinance, and cash out
- 85% Max LTV on IO; 95% for fully amortized loans
- DTI up to 50% (purchase, rate & term)
- Credit scores as low as 660
- Owner-occupied, second homes and investment properties
- 12- and 24-month bank statement program
- Self-employed allowed
Contact your Newfi rep to get started!