PRIME Loan

PRIME

PRIME

PRIME Connect is a flexible mortgage loan program offering financing for primary residences, second homes, and investment properties. It includes options like FULL DOC, EXPRESS DOC, ASSET UTILIZATION, 12/24 BANK STATEMENT, 1099, and 12/24 MONTH P&L.

Eligibility:

  • Loan amounts up to $3,500,000 for primary residences, $2,500,000 for investment properties.
  • LTV up to 90% for purchases, 80% for cash-out refinances.
  • Minimum FICO: 660-720, depending on loan type and amount.
  • Asset utilization options with max LTVs: 80% (primary/second homes), 65% (investment properties).
  • High loan limits and flexible LTV ratios.

Benefits:

  • Supports diverse income documentation types.
  • Suitable for self-employed borrowers with profit and loss or bank statements.
  • Allows asset utilization as qualifying income.

Consideration:

  • Max DTI: 45%. Gift funds not allowed for asset utilization.
  • Non-warrantable condos capped at 80% LTV.
  • Credit and documentation requirements vary by loan type.