Solution Oriented. Service Driven. Northeast Financial LLC is on the cutting-edge of lending. We have an extensive and innovative portfolio of Non-QM products backed by a diverse team of experts and industry leading lenders.
Bank Statement
- Up to 90% LTV, no MI
- Credit scores starting at 600
- Two years seasoning for foreclosure, short sale, bankruptcy or deed-in-lieu
- 12 or 24 months business bank statements (must own at least 50% of the business past two years)
- 12 or 24 months personal bank statements (must own at least 25% of the business past two years)
- Loans up to $3 million (minimum loan $150,000)
- Two years self-employed required
- No tax returns required
- 1099 option available
Investor Cash Flow / DSCR
“No Income”
- Up to 80% LTV
- Credit scores starting at 600
- No personal income used to qualify
- No limit on number of properties financed
- Must have housing history and own a primary home
- No employment required on application
- Qualification based on property cash flow (minimum DSCR 1.0)
- DSCR 1.00 – 0.85 minimum 700 FICO and max 80 % LTV
- No DSCR needed with minimum 700 FICO and max 75% LTV
- Loans up to $1.5 million (minimum loan $75,000)
- Properties can be in LLC’s name
- Investment Properties ONLY
Second Chance Purchase Program
- Up To 85% LTV
- 620 Minimum Credit Score
- 50% DTI Max
- Bankruptcy, Foreclosure And Short Sales (Seasoning 24 Months with No Seasoning at Lower LTV’s)
- Gift Funds Are Acceptable
- Need 3 Months PITI Post-Closing
- Full Doc, 12-24 Month Bank Statement, 1099 Only Income Docs Allowed
Assets for Income
- No income required
- No employment needed
- Loan amounts up to $2,000,000
- As low as 720 FICO
- No DTI required
- Up to 80% LTV (purchase)
- Minimum Assets needed to cover 24 months of payments and 12 months reserves (additional guidelines may apply)
95LTV Jumbo
- Up to 95% LTV, No MI
- Credit scores starting at 720
- Loans up to $2 million
(minimum loan $250,000) - Seven years seasoning for foreclosure, short sale, bankruptcy or DIL
- Full doc only
- DTI to 40/50%
- 6 months reserves required
- Single Family / Condo Only
- Owner Occupied Only
ITIN Loans
- Up to 90% LTV
- 50% Maximum DTI
- Valid Government Photo and ITIN Card or IRS Letter
- 5% Minimum Down from Borrower. Gift Funds Eligible.
- Doc Type: Full and P&L
- 90% LTV Full Doc and P&L Only (case by case)
