CondoTel Mortgage Lenders– Jumbo Prime, Full Doc

CondoTel Mortgage lenders Program Description
Jumbo Prime, Full Doc
Available Products, : 30 year fixed 15 year fixed

30 Year Fixed: 30 Year Self-amortizing (interest only not available).
15 Year Fixed: 15 Year Self-amortizing (interest only not available).

Self-amortizing loans are for 30 year terms, except 15 year fixed which is for a 15 year term. Interest only loans are for 40 year terms (after the 10 year Interest Only period the loan must amortize
over the remaining 30 years). Interest only not available in Illinois.
Citizenship / Visa requirements
Citizens / US persons and foreigners permitted, foreigners
only permitted for 2 nd home and investor occupancy with a
maximum LTV of 70%.
Primary Residence – 1 – 4 Unit and Condo
Loans with one or more foreign borrowers are ineligible
for primary residences
2 unit properties limited to 85% LTV, Non warrantable condos
limited to 85% LTV, 3 & 4 unit properties limited to 80% LTV,
Condotels limited to 70% LTV
Purchase and Rate & Term Refinance:
Allowable Loan to Value (LTV),
Maximum Loan Amounts
720 minimum Credit Score
70% CondoTel Mortgage lenders LTV to $4,000,000
65% CondoTel Mortgage lenders LTV to $5,000,000
60% CondoTel Mortgage lenders LTV to $6,000,000

700 minimum Credit Score:

70% CondoTel Mortgage lenders LTV to $3,500,000
65% CondoTel Mortgage lenders LTV to $5,000,000
60% CondoTel Mortgage lenders LTV to $6,000,000

680 minimum Credit Score

70% CondoTel Mortgage lenders LTV to $3,500,000
65% CondoTel Mortgage lenders LTV to $5,000,000
55% CondoTel Mortgage lenders LTV to $6,000,000

660 minimum Credit Score:
70% CondoTel Mortgage lenders LTV to $3,000,000
55% CondoTel Mortgage lenders LTV to $3,500,000

640 minimum Credit Score:
85% CondoTel Mortgage lenders LTV to $1,500,000
80% CondoTel Mortgage lenders LTV to $2,000,000

620 minimum Credit Score
65% CondoTel Mortgage lenders LTV to $1,000,000
60% CondoTel Mortgage lenders LTV to $1,500,000

Cash Out Refinance

720 minimum Credit Score
70% CondoTel Mortgage lenders LTV to $3,000,000
60% CondoTel Mortgage lenders LTV to $4,000,000
55% CondoTel Mortgage lenders LTV to $5,000,000
50% CondoTel Mortgage lenders LTV to $6,000,000

700 minimum Credit Score
70% CondoTel Mortgage lenders LTV to $3,000,000
60% CondoTel Mortgage lenders LTV to $4,000,000
55% CondoTel Mortgage lenders LTV to $5,000,000
50% CondoTel Mortgage lenders LTV to $6,000,000

680 minimum Credit Score
75% CondoTel Mortgage lenders LTV to $2,500,000
65% CondoTel Mortgage lenders LTV to $3,000,000
60% CondoTel Mortgage lenders  LTV to $4,000,000
55% CondoTel Mortgage lenders LTV to $5,000,000
50% CondoTel Mortgage lenders LTV to $6,000,000

660 minimum Credit Score
80% CondoTel Mortgage lenders LTV to $1,500,000
75% CondoTel Mortgage lenders LTV to $2,500,000

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