DIGS is the premiere luxury real estate lifestyle magazine serving the most affluent neighborhoods in the South Bay and Westside of Los Angeles, California.
Issue link: https://www.southbaydiggs.com/i/1446138
THE COMMUNITY MORTGAGE** • Primary residence & second homes • Credit underwritten based on LTV, FICO, and liquidity • Income documentation not required • Income not stated • Debt-to-income (DTI) not calculated • Asset seasoning 30 days • Loan amounts up to $3M • Up to 80% LTV • FICO beginning at 640 • Reserves from 3 months *Restrictions apply to DTI over 43%. **The Community Mortgage loan program is not available in DC, MD, NV, or WA. CA: Interest-only prohibited for FICOs below 660. CO: All loan transactions require fully executed CO LO Reasonable Inquiry Attestation and HUD Counseling Certification from the Colorado Housing Assistance Corporation. IL: Allowed provided payment is based on fully indexed rate. TX: Interest-only prohibited. OH: Interest-only on Adjustable-Rate (ARM) loans. Community Mortgage and DSCR products are unavailable in PA. INVESTOR • DSCR>100% or No Ratio • Loan amounts up to $3.5M • Loan-to-value (LTV) ratios up to 85% for purchase and cash out to 75% (DSCR>100%) • Interest-only financing available • Assets seasoning: 30 days (no gifts) • Vest in LLC • Foreclosure/short sale/deed-in-lieu seasoning: 36 Months • Bankruptcy seasoning: 24 months • Fast Closings • FICO beginning at 680 ALTERNATIVE DOCUMENTATION Flexible Qualification Methods • 1099 only • W-2 only • One-year tax return • 12-month bank statement • Asset Qualifier Guidelines • Loan-to-value (LTV) up to 90% for purchase/rate-and-term/ cash-out • Debt-to-income (DTI) up to 50%* • Loan amounts up to $4M • Reserves from 6 months • Available for primary residence or second home • Interest-only payments available • FICO beginning at 660 PRIME PLUS • Loan amounts up to $4M • Debt-to-income (DTI) up to 50%* • FICO beginning at 660 • Reserves from 3 months on loan-to-value (LTV) of 60% or less • Fixed and adjustable rate mortgages (ARM) available • Condos and other properties allowed (warrantable condos only) • Interest-only available (not available in Texas) • Vest in an LLC (investment only) • Purchase / rate-and-term / cash-out • Primary / second home / investment • Max LTV up to 90% on primary residences FOREIGN NATIONAL • Loan amounts up to $2.5M • Qualify using debt service coverage ratio (DSCR) • No credit score required • Loan-to-value (LTV) up to 70% • No-DSCR option available • Asset seasoning 60 days minimum in a U.S. banking institution • Fixed and adjustable rate mortgages (ARM) available Change Lending, LLC dba Change Home Mortgage is a state-licensed mortgage lender, NMLS ID #1839. To verify licenses, visit www.nmlsconsumeraccess.org. Headquartered at 16845 Von Karman Avenue, Suite 200, Irvine, California 92606. AZ: Arizona Mortgage Banker License #0925326; CA: Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act and California Financing Law; CO: Regulated by the Division of Real Estate; GA: Georgia Residential Mortgage Licensee #48010; MN: This is not an offer to enter into an agreement and an offer may only be made pursuant to Minn. Stat. §47.206 (3) & (4); NJ: Residential Mortgage Lender License – licensed by the N.J. Department of Banking and Insurance; OH: Licensed by the Ohio Department of Commerce, Division of Financial Institutions, Ohio Residential Mortgage Lending Certificate of Registration #RM.804654.000. For other states, visit www.changemtg.com. All loans are subject to credit approval and acceptable collateral. Additional terms and conditions apply. Programs, rates, terms and conditions may change without notice. Not all programs are available in all states. There is no guarantee that all borrowers will qualify. Restrictions may apply. This is not a commitment to lend. CHANGE LENDING, LLC AND ITS LOAN PRODUCTS ARE NOT SPONSORED OR ENDORSED OR BEING OFFERED BY THE U.S. TREASURY DEPARTMENT OR ANY OTHER GOVERNMENT AGENCY. © 2022. Change Lending, LLC. All rights reserved. EZ PRIME • Loan amounts up to $3M • Primary and secondary residences • Quick qualifying based on reserves: • 60 months with FICO of 740 • 84 months with FICO of 700 • Asset seasoning 30 days • Loan-to-value (LTV) up to 80% on Purchase/Rate & Term Refinance • LTV up to 75% on Cash Out Refinance • Foreclosure, short sale, and bankruptcy seasoning: 48 months • Fixed and Adjustable-Rate Mortgage (ARM) options available CHANGE PORTFOLIO