LENDING PROGRAMS
The key is to originate into programs organized with
cascading document types.
Vista Point Mortgage offers two non-Agency residential mortgage loan programs with distinct documentation options. Our products give you the flexibility to efficiently and clearly direct your borrower to the most suitable loan.
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IDENTIFY
BORROWER
PROFILE
CHOOSE
DOC TYPE
OPTION
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OPTIMAL LOAN PROGRAM
PRIMEPOINT
Is designed for owner occupied and second home borrowers who require flexibility in mortgage history, credit history, and/or payment and documentation options. This program offers expanded credit parameters for multiple borrower profiles while utilizing multiple cascading document types to further address specific income circumstances in the demonstration of ability to repay.
INVESTPOINT
Is designed for non-owner or investment property borrowers that may or may not have had previous investor experience. This program offers expanded credit parameters for multiple non-owner borrower profiles while utilizing multiple cascading document types to further address specific income circumstances in the demonstration of ability to repay.
PRIMEPOINT
Primary and Second homes
- 1 x 30 x 12 or 0 x 60 x 12 mortgage lates
- 36 and 24 months to credit events
- Limited Credit allowed
- 620 minimum FICO
- Multiple Full Doc and Alt Doc Options
- Loans to $2.5mm
- C/O to $1mm
- C/O used as reserves
- DTI to 55%
- 90% to $1mm
- 40 year amortization to qualify
- 5/1, 7/1 ARMs; 30year fixed; 40year IO
- IO option
- Expansive property types including non-warrantable condos
INVESTPOINT
Non-Owner and Investor
- 1 x 30 x 12 or 0 x 60 x 12 mortgage lates
- 36 and 24 months to credit events
- 620 minimum FICO
- Multiple Full Doc and Alt Doc Options including DSCR >= 1.00
- For DSCR, use Interest Only payment to qualify
- Loans to $2.5mm
- C/O to $1mm
- C/O used as reserves
- DTI to 55%
- 80% to $1mm
- 40 year amortization to qualify
- 5/1, 7/1 ARMs; 30year fixed; 40year IO
- IO option
- Expansive property types including non-warrantable condos
CASCADING DOCUMENT TYPES
FULL DOC
OPTION
- Standard Agency income documentation
- 1 Year W-2 / Tax Returns
ALT DOC
OPTION
- 12 or 24 months Bank Statements
- 12 or 24 months Bank Statements combined with 2 months Asset Statements
- 6 months Asset Statements
DSCR
OPTION
- Investor DSCR (Debt Service Coverage Ratio)
