SELL MORE HOMES WITH NAF ADVANTAGE
For Buyers Who Need More Than a Traditional Mortgage
NAF ADVANTAGE NICHE
tap into clients who qualify outside the box
Big Loans, Flexible Terms
Up to $4 million at 90% LTV (full/alt doc purchases)
Non-traditional properties welcome:
◊ Non-warrantable condos (up to 90% LTV)
◊ Condotels allowed
Tailored for Self-Employed Borrowers
Use 12 or 24 months of personal/business bank statements
Financing up to 90% LTV
1099 programs: 1 or 2 years of documentation
CPA-prepared P&L statements accepted
Asset-Based & Low Reserve Options
Asset-depletion/utilization: Qualify without debt ratios
Low reserve requirements: As little as 3 months
One-year tax return program for minimal documentation
Investor-Friendly Solutions
Debt-Service Coverage Ratio (DSCR) program:
◊ Qualify with investment property income
◊ Up to 85% LTV
◊ Delayed financing for refinances
Cash-Out
& Vesting Flexibility
Unlimited cash-out with select programs
Cash-out funds can be used for reserves
Vest loans in Trusts or LLCs for added flexibility
Inclusive
& Customizable
Programs for foreign nationals and ITIN holders
Automated Underwriting System (AUS) overlays for bank statement loans
Exceptions considered case-by-case for unique situations
ENTREPRENEUR ADVANTAGE BANK STATEMENT PROGRAM
Either 12 or 24 months personal/business statements
Minimum 10% down
Credit score minimum 600
0 to 12 months reserves required
Only for Self-employed borrowers
Does not require tax returns
ENTREPRENEUR ADVANTAGE BANK STATEMENT PROGRAM
Contractors
Lawyers
Doctors
Business owners who tend to write off a lot of expenses
ENTREPRENEUR ADVANTAGE IRS 1099
Designed for borrowers who are independent contractors, freelancers, etc.
Minimum expense ratio of 10%
YTD income to support continued receipt required
ENTREPRENEUR ADVANTAGE
Entertainment industry
Computer programmers
Website designers
Uber drivers
Freelancers
Etc.
ENTREPRENEUR ADVANTAGE CPA PREPARED P&L
Use 12 or 24 month CPA/EA prepared P&L to qualify
Borrower(s) must be self-employed and own business for at least 2 years
CPA/EA attest they have prepared the borrowers returns
Use 12 or 24 month average of Net income based on percentage of ownership
ENTREPRENEUR ADVANTAGE CPA
PREPARED P&L
Doctors
Lawyers
Other business owners
25% - 50% ownership interest
CASH FLOW ADVANTAGE
DEBT-SERVICE COVERAGE RATIO (DSCR)
• Positive or negative cash flow determines pricing
• Up to 85% LTV on purchases
• DSCR scores under 0.75 allowed
• Limited Liability Company (LLC) Vesting is allowed
CASH FLOW ADVANTAGE DEBT-SERVICE COVERAGE RATIO (DSCR)
Seasoned investors
Owners of multiple properties (i.e. realtors)
Less documentation requirements
Borrowers who may not qualify for a standard doc investment property loan
CASH FLOW ADVANTAGE
DEBT-SERVICE COVERAGE RATIO (DSCR)
Gross rental income divided by Principal, Interest, Taxes, Insurance, and Association dues (PITIA) of subject determines the DSCR score. Gross Rental Income
= 1.0
GLOBAL ADVANTAGE DSCR FOREIGN NATIONAL
Max 70% LTV Purchase with 700 or No Fico
Purchase 1.00 DSCR score or above
Max 70% LTV Purchase with 680 or No Fico
Purchase less than 1.00 DSCR score
Cash out refinance allowed up to 70% LTV and max $1 million loan amount
$150K min loan amount
$3.0 million loan max
GLOBAL ADVANTAGE DSCR FOREIGN NATIONAL
Property
FL condo structural inspections for > 5 stories or over 30 years old
Borrower Eligibility
Ineligible in US territories such as PR, Guam US VI
Citizens from OFAC Countries not eligible –Venezuela, Cuba, Russia, etc.
Foreign entities Affidavit required
GLOBAL ADVANTAGE ITIN PROGRAMS
Clients who have an Individual Tax Identification Number
85% Max LTV on owner-occupied Purchases
75% Max LTV on cash-out Refis
Minimum credit score 600 (when required)
Max loan amount of $3.0 million
Gift funds for down payment up to 80% LTV
ASSET ADVANTAGE ASSET QUALIFIER FAQS
How does qualifying for this program work?
Borrowers who have sufficient qualified assets to meet ability to repay requirements.
A debt-to-income ratio is not calculated, but residual income is required.
How is this calculated ?
Must document assets to cover all of the following:
Loan amount
Down payment
Closing costs & prepaids
Five years (60 months) of current monthly obligations
ASSET ADVANTAGE ASSET QUALIFIER SCENARIO
Down, CC & 5yrs. of mo. obligations
$250K
Computation
RESIDUAL INCOME
$10K*60 mo = $600K
$2M- $1M - $250K - $600K = $150K
$150K
ASSET ADVANTAGE ASSET UTILIZATION/DEPLETION
Total Qualified assets after down payment, closing costs
Reserves are deducted to qualify for monthly income divided by either 60 months
Can be used to supplement income to qualify
Minimum credit score 620, up to 90% LTV
Max loan amount of $4 million
ASSET ADVANTAGE ASSET UTILIZATION
Retirees
Clients with good assets, but minimal income
ASSET ADVANTAGE UTILIZATION SCENARIO
Eligible Assets
$1.2 million
Number of Months 60
Computation $1.2M/60 months = $20K
MONTHLY INCOME $20K
NON-WARRANTABLE
CONDOS
A condo that does not meet the requirements set by Fannie Mae or Freddie Mac for conventional mortgages; likely to be harder to finance.
Can finance HOAs with pending litigation on a case-by-case basis; construction defects typically not allowed
High percent of rental units
50% single entity ownership
Mandatory memberships allowed
