Cake Mortgage Corp.

•  First time home buyer DSCR

• FULL DOC NON QM CAN GO UP TO 55% DTI ON SOME PROGRAMS
• VA/FHA Loans with a minimum FICO score of 500 ( No overlays)
• WVOE up to 80% LTV (No need for proof of deposits, 4506-t, tax returns, pay stubs, or W2's)
• P&L Loans up to 85% LTV for 12 or 24 months (No 4506-t required, no bank statements)
• Bank Statement Programs up to 90% LTV for 12 or 24 months
• DSCR No Ratio Loans ( Less than .7 RATIO)
• DSCR Foreign National
• DSCR as low as 640 Fico also you can use the higher of the 2 applicants credit score
• 1099 (utilizing up to 90% of gross income)
• Fixed 2nd Mortgages with 12-month/24-month bank statements
• ITIN Loans up to 80%
• 5-8 Unit DSCR
• Loans up to 4 Million 

 Notable things within the guide that most of the other brokers utilize are the following

• No housing history FTHB LTV not exceeding 90%. Was able to close an 89% LTV
• For Primary purchase Reserves and down payment can be 100% Gift
• On DSCRs we can use the higher of the 1007 or the current lease provided that the difference is not greater than 20% to make the DSCR ratio work. 
• Cash out seasoning less than 3 months is allowed with restrictions: Borrower acquired the property through an inheritance, or was legally awarded the property through divorce, separation, dissolution of a domestic partnership.

• If 2 or more borrowers, highest mid score will be used between the two.
  
• If property is recently listed for sale, we are able to do a refi on it as long as the property is taken off the market prior to application date (Some programs may have LTV reduction as an overlay and some programs don’t)