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?
All kinds of borrowers are suitable for Sequoia, but you may find the most success with difficult-to-qualify borrowers like:
- High-asset borrowers needing exceptions on credit score, LTV, or DTI
- Self-employed borrowers
- Borrowers with credit events who also have excellent credit history since event
- Real estate investors with multiple properties
- Non-warrantable condos
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.
- Loan amounts up to $2.0 million
- 4 year seasoning for bankruptcy, foreclosure, short sale or deed in lieu
- Asset depletion income: very simple guidelines with asset divided by 120 months
- Purchase, refinance, and cash out
- Term options:
- 30 year fixed & 15 year fixed
- 40 year fixed with 10 year interest only period
- 7/1 ARM & 5/1 ARM (interest only available on both)
- LTV up to 85% (purchase), 75% (rate & term) or 70% (cash out)
- DTI up to 50% (purchase), 55% (rate & term)
- Credit scores as low as 680
- Owner-occupied, second homes, and investment properties
- 12 month bank statement program
- Self-employed allowed, some restrictions exist