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AD Mortgage Correspondent

FHA High Balance

Real estate values vary in different parts of the country. In some areas, homes are more expensive and as a result, the Federal Housing Finance Agency (FHFA) adjusts its loan limits for these “high cost” areas.

If you are planning to buy a home in an area considered high cost, an FHA High Balance loan may be the best solution for you. At A&D Mortgage, we are experienced in these kinds of FHA transactions and we’ll guide you through the entire loan process.

Program highlights:

  • Loan amounts up to $765,000 depending on home location
  • Available on primary residence and second/vacation homes
  • Condo financing available

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Other Programs

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FHA Streamline

- No appraisal and no income documentation are required
- You must have made at least six payments on your FHA mortgage
- To qualify, you’re required to be current on your monthly loan payments

Prime Jumbo

- FICO 660
- Up to 89.99% HCLTV
- 30-Year fixed up to $3 million
- Cash out up to 80% HCLTV
- Manual UW for over $2 million
- DU Approve/Ineligible
- No mortgage Insurance is required
- Primary, second home, and investment properties are allowed
- Purchase, rate/term refinance, and cash-out refinance
- Delayed financing is available up to 180 days
- No overlays or reserves, credit, and tradelines – per DU
- Income as per DU

Full Doc Non-QM

• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-in-hand $1 million, no limit for CLTV < 55%
• DTI up to 55%
• 30 & 40 Year Fixed, 5/6 & 7/6 ARM
• Traditional income
• 2-year credit event allowed
• Super Prime & Prime programs
• Condos up to 85% CLTV
• Condotels up to 70% CLTV
• NY up to 85% CLTV

12/24 Months Bank Statements

• No Score or FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-in-hand $1 million, no limit for CLTV < 55%
• 30 & 40 Year Fixed
• 3 months reserves
• Gift Funds for reserves allowed
• 12 months from bankruptcy or foreclosure
• Mortgage history 0 x 60 x 12
• Combination of business and personal bank statements allowed
• Condo and condotels allowed