New UW Guidelines and Reduced Rates

In an effort to make Non-Qm loans a whole lot easier, A&D Mortgage has made the following changes/additions to the guidelines:

Features:

• N/O/O with a DSCR of 1.15% will now be able to go 80% LTV !
• We added a 1099 for income product which allows schedule C borrowers to qualify without tax returns!
• Bank Statement products will now have 2 additional choices to qualify income in addition to a self-prepared P&L.
• Borrowers can utilize a straight 50% Expense Ratio and not require a P&L OR borrowers can request an expense letter from their tax preparer or CPA explaining what the expense ratio is for their business.
• *New to Bank Statement Program: *Qualified Paypal and Zelle deposits ok
• Waive Escrow ok for O/O & SH transactions
• No Credit Score OK!
• New Construction PUDs up to 80% LTV (FL Max LTV 75%)
• No seasoning requirements for Cash Out refinances
• 100% Gift ok for Owner Occupied loans max LTV 80%
• Overdraft Protection will NOT be counted as an NSF
• POAs ok for O/O & SH
• Asset Utilization can now do a Cash Out refinance transaction
• Age of documents now allowable up to 120 days!