STATED PROGRAMS

Stated Program#1:

1)  40% Down Required

2)  740 Minimum FICO

3)  5/1,7/1 ARM Available and 15 Year Fixed

4)  Minimum Loan Amount $200,000

5)  Allowed on Primary, Second Home and Non Owner (50% Down Required on Non Owner)

6)  Available for Purchase,Rate and Term (No Cash Out)

Special circumstances: 

**Unavailable in:  Riverside,San Bernardino,Kern and   Imperial Counties

**Maximum 4 Financed Properties allowed

** Borrowers employed in Mortgage/Real Estate or Construction Not Allowed. Retired,Property Management and/or Real Estate Investors are not allowed. 

Stated Program#2 (True Cash Flow): 

1)  20% Down Required

2)  Minimum Loan Amount $425,000

3)  700 FICO or Greater (Exceptions May Be Granted)

4)  10 Year ARM Only

5)  2 Year Tax Returns and all Financial Statements

6)  All California Allowed

7)  Purchase and Rate and Term (No Cash Out)

8)  Unlimited Properties Owned and Financed

Eric & Matt Gausepohl

Director of Sales/Product Development

Eric@summitlr.com

Matt@summitlr.com

800-774-7650 begin_of_the_skype_highlighting 800-774-7650 end_of_the_skype_highlighting

NMLS#339252