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Other Loan Products
Bank Statement Loans
To better serve self-employed borrowers, Ross Capital Mortgage Lending 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.
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640+ FICO, with LTVs up to 85% and no MI required
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Loan amounts up to $3M, Up to 50% DTI
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Minimum 12 months consecutive bank statements required
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Two appraisals from two different appraisers required for loans over $1.5M
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For primary home loans:
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Loan amounts up to $1M — 6 months of reserves required​
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Loan amounts between $1M up to $1.5M — 9 months of reserves required
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Loan amounts over $1.5M — 12 months of reserves required
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For second and investment property loans:​
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Minimum 12 months of reserves required​
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*Not eligible in West Virginia or on Texas 50(a)(6)
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Investor Flex
Ross Capital Mortgage Lending’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.
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640+ FICO, with LTVs up to 80%
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Eligible for investment property purchases, rate/term and cash-out refinances
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Minimum debt-service coverage area ratio (DSCR) of .80
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Finance up to 20 properties, loan amounts up to $2M
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Appraisals from two different appraisers required for loans over $1.5M
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Minimum 2 months consecutive bank statements required​
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Minimum of 6 months reserves required
*Not eligible in West Virginia or on Texas 50(a)(6)
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One-Time Close New Construction Loans
This loan combines the financing for the construction of the home and the permanent financing into one single loan, rather than requiring the borrower to take out separate loans for each stage of the construction process. Designed to simplify the construction financing process for borrowers, and to provide them with more flexibility and control over the construction process.
Conventional Loans
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Available on 15-and 30-year fixed conventional, high balance and 7- and 10-year ARM options
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Eligible on primary, second and investment property purchases and rate/term refinances
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Loan amounts up to the conforming loan limits
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700+ FICO, up to 95% LTV, DU eligible
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11-month maximum build period with 1-month modification period
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Interest-only monthly payments during the build period
VA Loans
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Available on 30-year fixed loans
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Loans up to $4M
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Eligible on primary home purchases and cash-out refinances
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620+ FICO, up to 100% LTV, DU eligible
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11-month maximum build period with 1-month modification period (build period is deducted from the loan term)
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No monthly payments during the build period
*This product is not eligible on attached condominiums, cooperative properties or temporary rate buydowns.
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Temporary Rate Buydowns
Program offered by Ross Capital Mortgage Lending that allows borrowers to lower their mortgage interest rate for the first few years of their loan term. With this program, the borrower can pay a one-time fee upfront to temporarily reduce their interest rate by up to 1.5% for the first one to five years of their loan term.
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Seller- and lender paid 1- and 2- and 3-year buydown options
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Eligible on primary and second home purchases for conventional 15- and 30-Year Fixed loans and ARMs
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Eligible on primary home purchases for FHA and VA 15- and 30-Year Fixed loans
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Eligible on primary and second home purchases for Prime Jumbo 30-Year Fixed loans
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CEMA Loans
Allows borrowers to lower their mortgage interest rate for the first few years of their loan term. With this program, the borrower can pay a one-time fee upfront to temporarily reduce their interest rate by up to 1.5% for the first one to five years of their loan term.
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Eligible on conventional and conventional high balance with Elite pricing available
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Investor Flex
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Bank Statement
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Prime Jumbo Offerings
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Loan must be closed by a UWM-approved attorney
*Available in New York State only. Not eligible on co-op properties.
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Standalone Heloc
Provides borrowers with access to a line of credit that is secured by the equity in their home. This program allows borrowers to access funds as they need them, rather than receiving a lump sum of cash upfront.
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Available on primary and second home loans
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Loan amounts up to $500,000
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640+ FICO, up to 89.99% CLTV
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$25,000 minimum line amount, initial draw must be 75% of line amount
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For line amounts up to $250,000, only an approved AVM is required
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For line amounts over $250,000, a full appraisal is required
*Not applicable in Texas
**Condos require full appraisal
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Piggyback Heloc
The Piggyback HELOC can be a good option for borrowers who have limited funds for a down payment and want to avoid paying PMI. It can also be a good option for borrowers who want to keep their first mortgage at a lower loan-to-value (LTV) ratio in order to secure a lower interest rate.
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Available on primary and second home purchases, rate/term and cash-out refinances on conventional loans
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Loan amounts up to $500,000
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680+ FICO, up to 89.99% CLTV
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$20,000 minimum line amount, initial draw must be 75% of line amount
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For line amounts up to $250,000, an appraisal waiver is accepted with an approved AVM
*Not applicable in Texas
**Condos require full appraisal
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more options
Other Loan Types
