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AD Mortgage Correspondent

Prime Jumbo

A&D Mortgage’s Prime Jumbo loan is a financing option for borrowers who intend to purchase a home outside of GSE guidelines. Borrowers who cannot qualify for an agency loan because the price of their home exceeds allowable limits can secure financing with a Non-QM loan from A&D.

Designed to finance luxury properties and homes in competitive real estate markets, Prime Jumbo mortgages come with unique underwriting requirements and tax implications, so it’s best to consult with a leader in the field, and that’s A&D Mortgage.

Program highlights:

  • 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

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Other Programs

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FHA High Balance

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

Fannie Mae RefiNow

- Designed for lower-income families
- Limited to owner-occupied, 1-unit primary residence financed through Fannie Mae or Freddie Mac
- Lowers interest rate by 0.5% and monthly payment by at least $50
- FICO 620
- Up to 97% LTV
- Income at or below 80% of the area median income (AMI)
- Maximum DTI 65%
- Borrower will receive $500 credit at closing if they have an existing appraisal
- Roll up to $5000 in closing costs for those with limited cash to close. Cash-out limited to $250
- Reduced documentation requirements

Full Doc Non-QM

• FICO 660
• Up to 85% CLTV
• Loan amounts up to $3 million
• Max cash-on-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-on-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