SIVA documentation
February 12, 2018

SIVA Elite

Our Premiere product in Alt-Doc Financing. SIVA Elite has the LOWEST Non-QM Interest Rates in the Nation and is now available to both W2 and Self-Employed Borrowers. An incredible product for individuals who have too many write-offs on their tax returns to qualify for a Full-Doc Mortgage or just haven’t had long enough seasoning at their current employment. SIVA Elite eliminates the possibility of being denied a mortgage due to issues deriving from a Borrower’s income.

SIVA Flyer

Purchase

  • O/O – 70% LTV to $2M.  50% LTV to Unlimited**.
  • N/O/O – 60% LTV to $2M.  50% LTV to Unlimited**.
  • SFR 1-4, Condo’s + PUD’s (Warrantable Only ((Freddie-Mac Guidelines)).
  • 700 Mid Fico Score.
  • No history of BK, FC, SS, Charge-Off’s, Tax Liens.
  • Max 1×30 in past 12 months.
  • With qualifying Reserves, DTI will not be calculated and no Seasoning of Employment is Required.
    • Reserves:
      • 6 months reserves of subject plus 2 months reserves of each additional property owned and financed, Sourced & Seasoned for 2 months with qualifying Income Documentation (CPA Letter or VOE).
      • 18 months reserves Sourced and Seasoned for 2 months when Borrower owns at least 1 other property than Subject and then qualifies with NO DTI REQUIREMENT.
      • 36 months reserves Sourced and Seasoned for 2 months when  Borrower does not own any other properties than Subject and then qualifies with NO DTI REQUIREMENT.
  • Self-Employed and Wage Earner borrowers accepted.
  • No Pre-Payment Penalties.
  • Gift Funds allowed.  Minimum 5% of Purchase Price + Reserves must be Borrower’s own funds
  • Sourced and Seasoned for 2 months.
  • No max properties owned/financed, 8 max properties on NOO owned and financed. Free and Clear properties and Commercial properties are exempt.

CA, NV, TX, NY, NJ, WA, MA, and IL 

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** Unlimited Loan Amounts are taken on a case-by-case basis and decision will be based on compensating factors of Borrower’s strengths such as High Reserves, Excellent Credit, etc.

 

Refinance

  • O/O
    • R/T – 65% LTV to $2M.  50% LTV to Unlimited**.
    • C/O – 50% LTV to Unlimited**.
  • N/O/O
    • R/T – 60% LTV to $1M.  50% LTV to Unlimited**.
    • C/O – 50% LTV to Unlimited**.
  • SFR 1-4, Condo’s + PUD’s (Warrantable Only ((Freddie-Mac Guidelines)).
  • 700 Mid Fico Score.
  • No history of BK, FC, SS, Charge-Off’s, Tax Liens.
  • Max 1×30 in past 12 months.
  • No Max Cash-Out.
  • With qualifying Reserves, DTI will not be calculated and no Seasoning of Employment is Required.
    • Reserves (Based on PITIA):
      • 6 months reserves Sourced and Seasoned for 2 months with qualifying Income Documentation (CPA Letter).  *On N/O/O transactions, the borrower must also possess 2 months reserves Sourced and Seasoned for 2 months on each additional property owned/financed in addition.
      • 18 months reserves Sourced and Seasoned for 2 months when Borrower owns at least 1 other property than Subject and then qualifies with NO DTI REQUIREMENT.
      • 36 months reserves Sourced and Seasoned for 2 months when  Borrower does not own any other properties than Subject and then qualifies with NO DTI REQUIREMENT.
  • Self-Employed and Wage Earner borrowers accepted.
  • No Pre-Payment Penalties.
  • No max properties owned/financed (N/O/O Max Properties Financed is 8 including Subject Property).

CA, NV, TX, NY, NJ, WA, MA, and IL

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** Unlimited Loan Amounts are taken on a case-by-case basis and decision will be based on compensating factors of Borrower’s strengths such as High Reserves, Excellent Credit, etc.

 

HELOC

No Appraisals up to $500K.

  • O/O
    • 70% LTV to $1M as a 1st T/D.
    • 65% LTV to $1M as a 2nd T/D.
    • 50% LTV to Unlimited**.
  • N/O/O
    • 65% LTV to $1M as a 1st T/D.
    • 60% LTV to $1M as a 2nd T/D.
    • 50% LTV to Unlimited**.
  • SFR 1-4, Condo’s + PUD’s (Warrantable Only ((Freddie-Mac Guidelines)).
  • No Seasoning of Ownership.
    • < 6 Mos Purchase Price
    • > 6 Mos Appraised Value
  • 700 Average Fico Score.
  • Foreign National Borrower’s OK – Passport Only.
  • No history of BK, FC, SS, Charge-Off’s, Tax Liens.
  • Max 1×30 in past 12 months.
  • No Max Cash-Out.
  • With qualifying Reserves, DTI will not be calculated and no Seasoning of Employment is Required.
    • Reserves (Based on PITIA):
      • 6 months reserves Sourced and Seasoned for 2 months (Based upon initial minimum draw of $50K + All Payoffs ((if any)) with qualifying Income Documentation (CPA Letter or VOE).
      • 18 months reserves Sourced and Seasoned for 2 months (Based upon initial minimum draw of $50K + All Payoffs ((if any)) when Borrower owns at least 1 other property than Subject and then qualifies with NO DTI REQUIREMENT (Based upon initial minimum draw of $50K + All Payoffs (if any).
      • 36 months reserves Sourced and Seasoned for 2 months (Based upon initial minimum draw of $50K + All Payoffs ((if any)) when  Borrower does not own any other properties than Subject and then qualifies with NO DTI REQUIREMENT.
  • Self-Employed and Wage Earner borrowers accepted.
  • No Pre-Payment Penalties.
  • No max properties owned/financed.

CA, NV, TX, NY, NJ, WA, MA, and IL

** Unlimited Loan Amounts are taken on a case-by-case basis and decision will be based on compensating factors of Borrower’s strengths such as High Reserves, Excellent Credit, etc.

HELOC FLYER

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