SPECIALIZED PRODUCTS
BANK STATEMENT (30-YEAR FIXED)
To better serve self-employed borrowers, IQ Capitol Group is offering Bank Statement Loans, allowing qualified borrowers to be approved by providing personal or business bank statements, instead of income docs or tax transcripts.
- 640+ FICO, with LTVs up to 85% and no MI required
- Loan amounts up to $3M
- Up to 50% DTI
- Self-employed borrowers only
- For primary home loans:
- Loan amounts up to $1M — 6 months of reserves required
- Loan amounts between $1M up to $1.5M — 9 months of reserves required
- Loan amounts over $1.5M — 12 months of reserves required
- For second and investment property loans:
- Minimum 12 months of reserves required
- Minimum 12 months consecutive bank statements required
- Two appraisals from two different appraisers required for loans over $1.5M
- Not eligible in West Virginia or on Texas 50(a)(6)
INVESTOR FLEX (30-YEAR FIXED)
IQ Capitol Group’s DSCR loan that’s perfect for investors looking to expand their real estate portfolio. It allows borrowers to use the market rent of the property to qualify, rather than their current income.
- 640+ FICO
- Up to 80% LTV
- Eligible for investment property purchases, rate/term and cash-out refinances
- Minimum debt-service coverage area ratio (DSCR) of .80
- Finance up to 20 properties
- Loan amounts up to $2M
- Appraisals from two different appraisers required for loans over $1.5M
- Minimum 2 months consecutive bank statements required
- Not applicable in West Virginia or for Texas 50(a)(6)
- Minimum of 6 months reserves required
CEMA LOANS
CEMA loans (Consolidating Extension Modification Agreement) can help borrowers save money on closing costs when purchasing or refinancing a home in the state of New York.
- Eligible on conventional and conventional high balance with Elite pricing available
- Investor Flex
- Bank Statement
- Prime Jumbo Offerings
- Loan must be closed by a IQ Capitol Group-approved attorney
Available in New York only. Not eligible on co-op properties.
TEMPORARY RATE BUYDOWNS
IQ Capitol Group’s Temporary Rate Buydowns give your borrowers more flexibility by lowering their interest rate and monthly payment for the first 1-3 years of their mortgage
- Seller- and lender paid 1- and 2- and 3-year buydown options
- Eligible on primary and second home purchases for conventional 15- and 30-Year Fixed loans and ARMs
- Eligible on primary home purchases for FHA and VA 15- and 30-Year Fixed loans
- Eligible on primary and second home purchases for Prime Jumbo 30-Year Fixed loans
STANDALONE HELOC (20- OR 30-YEAR)
IQ Capitol Group’s Standalone HELOC allows you to offer your borrowers a simple way of tapping into their home’s equity. It’s a popular option for accessing cash that can be used to pay down debt, make home improvements, cover tuition and more.
- Available on primary and second home loans
- Loan amounts up to $500,000
- 640+ FICO, up to 89.99% CLTV
- $25,000 minimum line amount, initial draw must be 75% of line amount
- For line amounts up to $250,000, only an approved AVM is required
- For line amounts over $250,000, a full appraisal is required
*Not applicable in Texas
**Condos require full appraisal
PIGGYBACK HELOC (20- OR 30-YEAR)
With IQ Capitol Group’s Piggyback HELOC your qualified borrowers can secure a mortgage on a home while simultaneously opening a home equity line of credit. Ideal for borrowers with less available for a down payment — the additional borrowed money can help them avoid paying private mortgage insurance.
- Available on primary and second home purchases, rate/term and cash-out refinances on conventional loans
- Loan amounts up to $500,000
- 680+ FICO, up to 89.99% CLTV
- $20,000 minimum line amount, initial draw must be 75% of line amount
- For line amounts up to $250,000, an appraisal waiver is accepted with an approved AVM
*Not applicable in Texas
**Condos require full appraisal
