SIVA Alt Doc
February 12, 2018

SIVA Preferred

Designed for Borrower’s with less than perfect credit, SIVA Preferred is an excellent alternative to the Elite product. Although a little more documentation is required than on the Elite, the program may also revel in it’s own merits such as longer fixed terms and no LTV hits for occupancy. Also, being a SIVA product, the same principles of not documenting income through traditional methods still applies, while the interest rates offered are competitive to that of a Full-Doc mortgage. Liberal underwriting is the ethos of this product and most will find that obstacles simply do not exist when funding under this program.


Purchase + Refinance

  • O/O + N/O/O
    • 70% LTV to $1M (680 Mid)
    • 65% LTV to $1.5M (700 Mid)
    • 60% LTV to $2.5M (720 Mid)
    • 55% LTV to Unlimited ** (720 Mid)
  • SFR 1-4, Condo’s + PUD’s (Warrantable Only ((Fannie-Mae Guidelines)).
  • Condo’s (Warrantable Only ((Fannie-Mae Guidelines).
  • $750K Max Loan Amount on Condo’s.
  • Derogatory Seasonings
  • Bankruptcy 7+13 – 3 Years
  • SS + DIL – 2 Years
  • Foreclosure – 5 Years
  • Loan Modification – 1 Year
  • Max 1×30 in past 12 months.
  • Self-Employed + Wage Earner Borrower’s Only
  • W2 Wage Earner
    • Must present VOE reflecting 40% MAX DTI
  • Self-Employed Borrowers
    • CPA or EA Letter Required.
    • Borrower prepared P&L reflecting a net income of 40% MAX DTI signed by CPA or EA and Borrower.
    • Proof of Self-Employment for a minimum of 2 Years such as Articles of Inc, Business Licenses, or Professional License.
  • Reserves:
    • LTV < 60%, Loan amount to $1M – 6 Months
    • LTV < 70%, Loan amount to Unlimited – 12 Months
  • No Pre-Payment Penalties.
  • Gift Funds Allowed – 10% of Purchase Price + Reserves must be Borrower’s own funds.
  • No max properties owned/financed.
  • All Properties Zoned Residential Accepted.
  • 2 Appraisals Required for all loans over $1M.


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

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