Available in Fixed Rate and ARM versions, the Expanded Ratio Mortgage provides an expanded LTV ratio for qualified borrowers to purchase an owner-occupied home, second home, or investment property with a loan ranging from $100,000 to $1,500,000.

Minimum FICO score of 700 may qualify for 75% LTV on owner-occupied home, 70% LTV on second home, or 65% on investment property. A minimum FICO score of 720 may increase the LTV by 5% in each category.

Get expanded Loan to Value (LTV) ratio to purchase a home or investment property.Expanded Ratio Mortgage

Mortgage history requirements include 0 x 30 last 24 months for all REO for all borrowers on transaction; less than 12 months history eligible with 720 FICO score and 2 times residual income; 12-24 months housing history eligible with 720 FICO score and 1.5 times residual income.

Calculate monthly payment and amortization.

Trade line requirements include 2 trades for each qualifying borrower. At least one trade line must be open and active for 24 months. A current mortgage 0 x 30 for the past 60 months will override this requirement.

Standard Fannie Mae income calculations are applied.

Programs available to qualified borrowers only. Some Restrictions may apply. Programs subject to change without notice. Contact eLucid for more information.

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