With Sequoia Portfolio Plus, we make all credit decisions and exceptions, providing flexible qualification and faster approvals.
Say YES when others say NO with Sequoia Portfolio Plus!
Flexible QualificationWe control all underwriting, so we can tailor loans up to $2 million to a borrower’s unique income and asset circumstances.
Faster ApprovalsWe underwrite the loan and make exceptions ourselves, so approval isn’t delayed by investors.
Live Scenario DeskOur lending specialists are on tap to quickly price scenarios and identify ways to qualify, making same-day exception decisions after loan submission.
Competitive RatesEven when borrowers have complicated credit situations, we strive to keep rates among the lowest in the market.
What kind of borrowers are well-suited for Sequoia Portfolio Plus?
Sequoia is especially good for using asset depletion income – one of THE EASIEST calculation methods in the industry!
Income calculation can use funds coming from checking, savings stocks, bonds, mutual funds, retirement accounts, with $100k minimum needed to qualify as income.
This simple formula equates to $833 per month in income per $100k in assets.
All kinds of borrowers are suitable for Sequoia, but you may find the most success with difficult-to-qualify borrowers like:
- Those needing payment relief, so a 40-Yr Fixed, 10-Yr Interest-Only is the answer
- Those with high ratios that can be alleviated by aggressive Asset Depletion guides
- Conforming or Jumbo loan amounts
- Full Doc or Bank Statement qualification
Borrowers should have strong credit and personal financial strength to qualify for the best rates.
What are the basic features of Sequoia Portfolio Plus?
As a portfolio product, we can make exceptions to many of these criteria, provided there are compensating factors in reserves, income, or other areas.
- One year income documentation OK for Self-Employed and basic W-2
- No minimum trade line requirement with 3 credit scores, LTV < 75% and 24 month housing payment history.
- 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