LibertyMortgage
2501 S Trumbull Ave, Chicago, IL 60623Phone: 773-677-6460 Email:[email protected] NMLS# 1807234
Liberty: Illinois, Florida DMI: AR, CA, CO, DC, FL, GA, IN, IL, MD, MI, NV, SC, TX, UT, VI
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Lender –ATHAS
Rep.
Rep.
Tomas Salazar
Phone:
818.251.9763
Phone:
Web Site:
Web Site:
Rates Quote:
Rates Quote:
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Loan Programs;
Fix & Flip
Sometimes a great opportunity comes up in the market. Our Fix and Flip loan
allows borrowers to purchase a distressed property or refinance an incomplete
property without the need for draws and escrow accounts.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
VOE Program
Verifiable VOE from Employer (not self-employed or self-prepared). The VOE must be fully
filled out and must include all income and averages. The VOE must be signed and dated by the
employer with accurate contact information.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
k kk
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
1099 Program
For Non-Self-Employed Independent Contractors
* 2 Years 1099’s
* Athas to verbally verify accuracy of income on 1099’s
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
P&L Only Program
Full Year 2017 Complete Profit and Loss Statement and 2018 Complete YTD Profit and Loss
Statement.
..
Verifiable letter from licensed CPA, Certified Tax Preparer or Enrolled Agent attesting that they
prepared the P&L Statements or if the P&Ls were borrower prepared then a verifiable letter
from a licensed CPA, Certified Tax Preparer or Enrolled Agent attesting they are factual.
..
If CPA, Certified Tax Preparer or Enrolled Agent did not prepare P&Ls then borrower to sign
and date the P&Ls and attest to the accuracy of the P&L’s via handwritten, signed and dated
letter.
..
Proof that borrower has been self-employed for that business for 2 years.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
Asset Depletion Program
* Available for All Employment Types including Retired/Unemployed:
* Borrower has enough liquid assets to pay Athas mortgage (PITI) for 7 years
(borrowers cannot be over 55 years in age) or;
* Borrower has enough liquid assets to pay Athas mortgage in full (no age
restrictions apply). Borrower must exhibit liquid reserves greater than the new
mortgage debt, post-closing – i.e. Loan amount = $100k; liquid reserves = $101k.
* Liquid Assets are assets that exist post transaction and are not inclusive of any cash out proceeds.
* Retirement Accounts (401k, IRA, etc…..) – NOT Acceptable.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
Full Documentation Program
All Conventional Documentation Required, W-2’s & Pay stubs, Tax Returns.
Alt Doc – 12- or 24-months bank statements.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
1 Month Personal Bank Statement Program
(Self Employed Borrowers Only) 1-month personal bank statement. Use deposits minus any unusually
* large deposits for income.
* 650+ Middle Fico score for all borrowers.
* No mortgage lates in the last 60 months if homeowner.
* No FC, SS, BK or major MTG delinquencies (over 30 days) in last 5 years.
* If renter 0x30 VOR for 24 months-VOR must be arms-length and verifiable.
* Proof Self Employed for 2 years.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
Down Payments Or Liquid Cash Reserves
* All down payment funds MUST be sourced & seasoned 60 days +6 mths
PITI in liquid cash reserves from 90.01-95% ltv
* All down payment funds MUST be sourced in the last 30 days from 80.01-90% ltv.
* 100% Gift funds are acceptable up to 80% LTV – direct relative. $1M-$2M 50% can be gift – $2M+ no gift.
Occupancy:
Owner Occupied
Property Type:
1-4 Units
Property T yp
Condominium
Non-Warrantable Condos
Program:
1 Year Adjustable
Terms:
5 Years
Index:
6 Month Libor
Caps:
2/2/5%
Loan Amounts:
$50,000 Minimum to $3,000,000 Maximum
DTI:
90.01-95% LTV: 43% Max DTI
80.01-90% LTV: 50% Max DTI
Up To 80% LTV: 55% max DTI
Other Terms and Conditions on all loans;
No pre-payment penalty on ANY consumer products
.$1,295 Underwriting fee.
.All income tax liens & judgments on credit must be paid through closing if they
are in excess of $2,500. All tax liens and judgments on title must be paid.
.Minimum Rate = 4.99%
.Maximum Points to broker: 3% – Borrower Paid