Domestic and Foreign National Loan Programs & Guidelines:

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1 Domestic and Foreign National Loan Programs & Guidelines: Property Types: Single Family Homes / Condos and Condo-Hotels. Condo-Hotel Minimum Requirements: Done on a case by case basis. We require a minimum of 1 full bedroom and a full size kitchen (with a 4 burner stove). 680 Minimum Credit Score for US Citizens / Residents. Jumbo Loans: Jumbos up to 1 million, (just ask). Foreign and Domestic 3/1, 5/1, 7/1 & 10/1 ARM s and 15 YR. Fixed now available. Charge PTS. & get a yield Spread on: LLC and Foreign national. We Can Lend in the ENTIRE STATE with a Few Exceptions: Exceptions: Orlando and the following counties: Polk, Lake, Seminole, Osceola and Orange. Commercial Loans Made Easy: Apt. Buildings Warehouses Strip Shopping Centers and More. Up to 70% LTV Non-FNMA / Non-FHLMC Condos. 6 Months like a Purchase Refinance: A refinance may begin right after closing on a cash purchase (of 6 months or less). Loan to Value Matrix: Loan Amount Single Family Purchase And Rate & Term Refinance Single Family Refinance Cash Out Condominium (*) Purchase And Rate & Term Refinance Condominium Refinance Cash Out $100,000 - $149,999 50% 50% 50% 50% $150,000 - $199,999 65% 50% 65% 50% $200,000 - $1,000,000 70% 50% 65% 50% Over $1,000,000 Case by Case 50% Case by Case 50% (*) New condo buildings must be at least 50% closed or sold (under contract to close) or a combination of both. If the condo is not 50% closed or sold (under contract to close) or a combination of both, the maximum LTV is 50% Condo Questionnaire is required on all condo loans. For all re-fi cash out transactions that close within 6 months of original cash purchase use the same LTVs as those for Rate & Term refinance. Equity Mortgage Bankers Domestic and Foreign National Programs rate sheet for: 1 P a g e

2 Julio 2014 All loans between $500,000 and $1,000,000 reduce the rate by.250% All loans over $1,000,000 reduce the rate by.375% Pricing for Foreign National Loans that are Non Reg.-Z / Applicable loans and Corporate Title Loans (*): 3/1 ARM 5/1 ARM 7/1 ARM 10/1 ARM 15 YR Fixed Broker Premium (YSP) 4.250% 4.625% 5.125% 5.625% 5.375% 0.00% 4.375% 4.750% 5.250% 5.750% 5.500% 1.00% 4.500% 4.875% 5.375% 5.875% 5.625% 1.50% 4.625% 5.000% 5.500% 6.000% 5.750% 2.00% (*) Additional Borrower paid broker compensation and fees are allowed on Non Reg.-Z applicable loans. Pricing for All Reg.-Z Applicable Loans (**): Borrower Paid Broker Compensation Prices: 3/1 5/1 7/1 10/1 15 YR. Fixed 4.250% 4.625% 5.125% 5.625% 5.375% Lender Paid Broker Compensation Prices Lender Paid Broker Compensation is 2.00% 3/1 5/1 7/1 10/1 15 YR. Fixed 4.625% 5.000% 5.500% 6.000% 5.750% Maximum Lender Paid Broker Compensation is $50,000 All Loans will be locked at Loan Submission for 60 days See loan program description for Venezuela, Argentina or Russia borrowers 3/1 ARMs with Lender paid compensation are not available for primary residence loans All Lender paid loans and premium priced loans have a (3/2/1) pre-payment penalty Primary residence loans with Lender paid compensation will have a (2/1) pre-payment penalty Borrower paid broker compensation loans have no pre-payment penalty One (1) year Libor Index Margin 3.25% - 2/6 Caps. 6% Seller contribution allowed towards buyers closing cost and pre-paids Real Estate taxes will be estimated at 2.00% of the sales price on purchase transactions Commercial Loans Made Easy (Foreign and Domestic): 2 P a g e

3 One of the biggest differences between Residential and Commercial is that Commercial loans do not require a 1003 form. The credit authorization is the actual application and the underwriting is done on the PFS and the property cash flow. Program Recap: Rates: Term: Starting at 5.0%. Fixed rate for 60 months. Then adjusts annually for the following 60 months (each at 1 year LIBOR plus 3.25%). 120 months / on a 300 month amortization. LTV: Max LTV on a purchase is 70%. Max LTV on a R/T re-fi is: 70%. Max for a cash-out re-fi is 50%. Min. Loan: Minimum loan is $500,000 (Exception: $ for O/O office condos). Max Loan: Maximum loan is $10,000,000. Floor: Ceiling: Pre-pay: Yield Spread: It is the start rate. No ceiling. No pre-payment penalty. No yield spread. Commitment: 1% fee at time of acceptance of commitment (Negotiable depending on loan size). U/W Fee: Underwriting fee is $ Inspection: BAC inspection fee is $ Appraisal fee: Appraisal fees vary depending on loan size. Loans up to $499,999 appraisal fee is: $ $500,000 to $749,999 fee is: $ $750,000 to $1,000,000 fee is: $ More than $1,000,000 Fee is: Call for quote Other fees: Other fees and costs will very according to loan size and property type. Foreign National loans Guidelines and Requirements: Max DTI: 40% 3 P a g e

4 Pre-payment: Pre-payment penalties are (3/2/1); 3% the first year, 2% the second year and 1% the third year. A principal reduction of 20% per year is allowable with no penalty. Self-Employed: Self-employed Foreign Nationals require an accountant s letter which will detail the business owned, type of business, length of ownership and income for 2012 and It should also include the YTD income for Employed: If employed, provide an original letter from the employer which details the type and length of employment, it should also include the income for 2012 and 2013 and the YTD income for Bank Account: All Foreign National borrowers must open a US bank account and establish an ACH debit for mortgage payments. The ACH debit form most be signed prior to scheduling the closing. Note: A waiver of this requirement will be allowed by increasing the rate by 1%. No escrow waivers are allowed. A US bank account should also be used to show cash funds for closing and for reserves. See program descriptions for cash reserves. Borrower s liquid assets position must be commensurate with financial statements and income levels. Credit Report: Run a domestic credit report on all borrowers. On borrowers from the UK and from Canada, an international credit report must also be ran. Documents: Besides income documents (explained above) the following documents are required: Two pictures IDs (that might include a driver s license, a valid passport and a current visa). If closing in a corporate name, request all necessary corporate docs. If subject property is a condo, request a condo questionnaire, HOA budget and condo insurance. Check or credit card authorization for appraisal. Include all original letters submitted by borrower. Fees: U/W Fee: $ Tax Service Fee: $ Flood Certification: $ Appraisal Fee: Appraisal fees vary depending on loan size. Loans up to $499,999 appraisal fee is: $ $500,000 to $749,999 fee is: $ $750,000 to $1,000,000 fee is: $ More than $1,000,000 Fee is: Call for quote General information needed for the income data: The accountant s (CPA) letter for self-employed Foreign National borrowers should be in letter-head format and must include the following: 4 P a g e

5 Company Name Borrower s name Type of Business Position of the borrower Percentage (%) of ownership Date business opened. Borrower s income for 2012 and Borrower s YTD income (through the last day of the last month) for Company s website (if any). Bank reference letter for 2 years banking relationship. And bank statements (depending on program). Employed borrowers must provide: Original letter from employer detailing the employment (date borrower was hired, position/ title), and borrower s income during 2012 and 2014 and YTD income for A VOE with borrower s information and company s / fax information. Bank reference letter for 2 years banking relationship. And bank statements (depending on program). The CPA / Accountant must provide: Certification or License (info to validate the CPA / Accountant status) Accountant s address (and / or the company s). Please keep in mind that a complete 1003, 1008, good faith estimate and all require documents, contracts and disclosures are needed to move a file faster to approval/ completion. 5 P a g e

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