Non-Agency / Non-QM Loan Products
Non-Agency / Non-QM Lending
RAC is a correspondent investor filling the void in today’s residential mortgage market. Non-agency lending solutions.
The RAC Advantage
Exceptions available
5/1, 7/1, 15-yr fixed, and 30-yr fixed terms on all products
Interest Only available
Rate available in pricing engines
Scenario / Exception Desk
Prequalification review available prior to closing
Assigned transaction manager ensures smooth process from pre-qual through funding
Non-Agency / Non-QM Loan Products
Foreign National
Solutions for non-US citizens purchasing a vacation home or investment property in the United States.
The RAC Advantage
LTVs: Up to 75%
Foreign credit: Accepted
Social Security Number and US credit: NOT REQUIRED (may use trade lines to prove credit history)
Recent credit event: OK
DTI: Up to 50%
Loan amounts: Starting at $75k and up to $2mm
Unlimited number of properties financed
Cash Out Options
Eligible for second home
Non-Agency / Non-QM Loan Products
Non-Warrantable Condo
Loans designed to address the complexities of Non-warrantable condo lending.
The RAC Advantage
Documentation types accepted: Full or Self Employed
Investment Properties: Allowed
Maximum LTV/CLTV: 80%
Maximum Loan Amount: $1,500,000
Owner Occupied Property: No owner-occupancy requirement for established projects
Investment Property: up to 70% of units may be conveyed as non-owner occupied
Commercial space: up to 35%
Cash Out allowed
Single Entity Ownership up to 20%
Non-Agency / Non-QM Loan Products
Investor Solutions
Underwritten to borrower income or property income.
The RAC Advantage
FULL DOCUMENTATION
LTVs: up to 80%
Loan amounts: between $75k – $2mm
FICOs: down to 580
DTI: up to 50%
Interest Only available
Cash Out Options
One day out of Chapter 13 Bankruptcy
One day out of Short sale / DIL
Can close as Corporation or LLC
12 or 24 month options available
Unlimited number of financed properties
DEBT SERVICE COVERAGE RATIO
Only LTV, FICO, and DSCR required
Only LTV, FICO (No ratio)
Loan amounts: between $75k – $2mm
LTV: up to 80%
FICO: down to 620
Interest Only available
Cash Out Options
Can close as Corporation or LLC
Unlimited number of financed properties
SELF EMPLOYED SOLUTIONS
24 month personal or business bank statements
Loan amounts: between $75k – $2mm
LTVs: up to 75%
FICOs: down to 640
DTI: up to 50%
Interest Only available
Cash Out Options
Can close as Corporation or LLC
Unlimited number of financed properties
SELF EMPLOYED SOLUTIONS – EXPRESS
12 month personal bank statements
Loan amounts: between $75k – $2mm
LTVs: up to 75%
FICOs: down to 640
DTI: up to 43%
Interest Only available
Cash Out Options
Can close as Corporation or LLC
Unlimited number of financed properties
Non-Agency / Non-QM Loan Products
Credit Ascent
Responsible solutions for credit impaired borrowers.
The RAC Advantage
FULL DOCUMENTATION
LTVs: up to 90%
FICOs: down to 580
DTI: up to 55%
Loan amounts: from $100k to $2mm
Interest Only available
Cash Out Options
Bruised credit
One day out of Bankruptcy
One day out of Foreclosure
One day out of Short sale / DIL
12 or 24 month options available
SECOND HOMES
LTVs: up to 80%
FICOs: down to 580
DTI: up to 50%
Loan Amounts: up to $2mm
Cash Out Options
Foreign nationals eligible
12-month and 24-month bank statement programs available
SELF EMPLOYED SOLUTIONS
24 month personal or business bank statements
LTVs: up to 85%
FICOs: down to 580
DTI: up to 50%
Loan Amounts: up to $2mm
Interest Only available
Cash Out Options
SELF EMPLOYED SOLUTIONS – EXPRESS
12 month personal bank statements
LTVs: up to 80%
FICOs: down to 660
DTI: up to 43%
Loan Amounts: up to $2mm
Interest Only available
Cash Out Options
Non-Agency / Non-QM Loan Products
Premier Credit
Higher balance loan amounts offered for borrowers with full or alternative documentation.
The RAC Advantage
FULL DOCUMENTATION
LTVs: up to 90%
FICOs: down to 660
DTI: up to 55%
Loan amounts: from $150k to $3mm
Interest Only available
Cash Out Options
12 or 24 month options available
SECOND HOMES
LTVs: up to 80%
FICOs: down to 660
DTI: up to 50%
Loan Amounts: up to $3mm
Cash Out Options
12-month and 24-month bank statement programs available
SELF EMPLOYED SOLUTIONS
24 month personal or business bank statements
LTVs: up to 90%
FICOs: down to 660
DTI: up to 50%
Loan Amounts: up to $3mm
Interest Only available
Cash Out Options
SELF EMPLOYED SOLUTIONS – EXPRESS
12 month personal bank statements
LTVs: up to 80%
FICOs: down to 660
DTI: up to 43%
Loan Amounts: up to $3mm
Interest Only available
Cash Out Options
Non-Agency / Non-QM Loan Products
Interest Only
Loan amounts for qualified borrowers wanting significant increases in their disposable income.
The RAC Advantage
Available: on 5/1, 7/1, 30 and 40 Year Term
10 Year I/O Period
Credit Ascent / Prime Ascent LTV: up to 80%
Investor LTV: up to 80%
DSCR: up to 70%
FICO: 660 Min
Foreign National borrowers with US credit now eligible
