Niche Stuff

Updated on NEW Jumbo products we recently rolled out –

90% Jumbo – No MI – 5/1 Arm up to $1.5 million

70% Non-owner Jumbo – Interest Only

80% 2nd Home – Interest Only

Or

Our Asset Depletion Program could be the perfect solution!

  • Retired and non-retired borrowers are eligible
  • No add-ons to your rate for using asset depletion income
  • Asset Depletion income can be coupled with other forms of income (pension, social security, w2 wages, self-employed income, etc.)
  • 75% max LTV (subject to occupancy type)
  • All occupancy types allowed
  • All collateral types allowed

And lastly a Bank Statement Loan for self-employed and over 10 financed properties loan……………….

And they say Christmas only comes once a year…. Great New Product(s)

Blue Adobe Mortgage is excited to announce three new Alt QM programs!

Maybe your buyer just needed that little extra stretch to get them into a new home in 2015!

Alt Income
o Income calculation  based on bank statements for self-employed borrowers
o Self-employed borrower is required, tax returns NOT allowed
o Additional spouse W-2 income or other non-self-employed income can be used for qualification
 Standard income documentation is required
o 5/1, 7/1 and 10/1 ARM, interest only option available

Alt Investor
o Program designed for experienced real estate investors
o Qualification based on cash-flow solely from the subject property
o Borrowers must have 3 years history owning, retaining and managing residential real estate
o 5/1 ARM, interest only option available

Alt Jumbo
o Jumbo and non-conforming loans that fall just outside the parameters of Qualified Mortgage requirements
o Loans must reflect one or more of the following characteristics:
 Interest Only
 DTI exceeds 43%
 Loan amount exceeds conforming or high balance loan limits
o 5/1, 7/1 and 10/1 ARM, interest only option available

BLOG QM