– AAA Lendings Portfolio Program – AAA Lendings Detail:
				
		Overview
	
Portfolio Bank Statement
Portfolio DSCR
Portfolio Foreign National DSCR
* Retail Only
		Details
	
1) 5/6 ARM 30 Day Average SOFR (5/1/5);
2) Buydown ratio under par 1:2;
3) Max. Loan Amount $5,000,000.
* Buyup ratio over par unacceptable
Portfolio Bank Statement
1) UW Fee $1495 & Processsing Fee $845;
2) Trust/Entity Review Fee $300, if applicable;
3) Bank Statement Income Max. LTV 65%;
4) Bank Statement – Interest Only Max. LTV 60%;
5) Min. Loan Amount $500,000;
6) Foreign National – Not Eligible;
7) 18-Month Pre-Payment Penalty is equal to 6 months interest;
8) Min. 12 months PITIA on subject property as the reserves;
9) Exception: case by case for loan amount ≤ $500k with 0.5 adjusted to fee.
Portfolio DSCR
1) UW Fee $1495 & Processsing Fee $845;
2) Trust/Entity Review $300, if applicable;
3) Min. Loan Amount $500,000;
4) Foreign National – Not Eligible;
5) Min. DSCR 1.000;
6) Loan Made to Natural Person – No Entity Borrowers;
7) 2-4 Unit Property is Eligible and 5% Reduction in Max. LTV/CLTVs on Matrix;
8) 18-Month Pre-Payment Penalty is equal to 6 months interest;
9) Min. 12 months PITIA on subject property as the reserves;
10) Exception: case by case for loan amount ≤ $500k with 0.5 adjusted to fee.
Portfolio FN DSCR
1) UW Fee $1495 & Processsing Fee $845;
2) Trust/Entity Review $300, if applicable;
3) Foreign National Review $250;
4) Min. Loan Amount $500,000;
5) Min. DSCR 1.000;
6) Interest Only – Not Allowed;
7) Power of Attorney – Not Allowed;
8) Pre-Payment Penalty (Investor only) is 18 months and equal to 6 months interest.
9) Min. 12 months PITIA on subject property as the reserves;
10) Exception: case by case for loan amount ≤ $500k with 0.5 adjusted to fee.
		How to Calculate Portfolio DSCR?
	
DSCR shall be calculated as follows: DSCR = *Net Rental Income ÷ Qualifying Monthly Payment (P and I only);
*Net Rental Income = Gross Rents * (1 – Expense Factor);
Expense Factors: Property without HOA = 25%, Property with HOA = 30%;
Rent will be the lesser of: Current lease income or the amount on the 1007 provided by the appraiser showing the estimated market rent schedule.
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