Fortress DD Non-QM
With the Fortress DD program, Newfi continues to support brokers with Non-QM products.
Fortress DD
With Fortress DD Non-QM, Newfi offers multiple qualification options.
1 or 2 Year Full Doc
- Available on 5 and 7 year ARM, 15 and 30 year fixed & 40 year fixed with the first 10 years I/O
- Borrow up to $2.5 Million
- Up to 90% LTV purchase, 85% LTV R/T refinance and 75% LTV Cash Out
- Credit scores from 680
- DTI up to 50%
- 4 year seasoning from major credit event
12 and 24 Month Bank Statement and 1 or 2 Years 1099
- Available on 5 and 7 year ARM, 15 and 30 year fixed & 40 year fixed with the first 10 years I/O
- Borrow up to $2.5 Million
- Purchase and R/T refinance up to 85% LTV and cash-out up to 70% LTV
- Credit scores from 680
- 1099 offers 10% fixed expense ratio
- 3 methods to calculate expense ratio on bank statement transactions
- All occupancy types allowed
Fortress DD Business Narrative (.pdf)
Newfi Bank Statement Analysis (.xlsx)
Debt Service Coverage Ratio (DSCR)
- Option designed for borrowers who have an investment property portfolio and need alternative means to qualify for a loan
- Loan amounts up to $2 Million
- Available on 5 and 7 year ARM & 15 and 30 year Fixed
- Purchase and R/T Refinance up to 75% LTV and Cash-out up to 70% LTV
- 3 Ways to Qualify
- DSCR >= 1.15
- DSCR 1.00 – 1.14
- DSCR < 1.00
- Prepayment penalties available