BNMC's Residential Loan Programs

Boston National Mortgage Corporation	100% Financing and No Income Verification Lending Specialist
100% Financing Interest Only Stated Income / No Doc Combo Flex Equity Loan/ Line	Credit Repair As your advisor and partner, you will recieve the funding support, reliable performance and structuring flexibility you need to consumate the deal Apply Now

Phone: (781) 431-2215, Fax: (781) 772-1052

1085 Worcester Rd. Natick, MA 01760

100% Financing

100% Financing Program

Loan Purpose	Purchase, refinance, construction-permanent
Occupancy Type	Primary residence, secondary home, investment
Property Types	Single-family residence, condo, high-rise condo, co-op, manufactured housing
Loan Amount	Up to $7M
Loan to Value (LTV)	100% (PMI applicable)
Interest Options	Fixed, ARM
Payment Options	Fully Amortized, Interest Only
Loan Term	15, 20, 25, 30, 40 years
Documentation	Full-Doc, Stated / No-Doc
Structuring Options	Cross-collateral, entity vesting, first time home buyer
DTI Requirements	50%
Credit Score	620 FICO (For loans in excess of $650K, FICO requirement is 660)
Cash Reserves	3 Months PITI for primary residence and 6 months PITI for investment
Appraisal	In some cases for loans exceeding $1M, two appraisals (not more than six months old)

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Interest Only

Interest Only Loan Program

Loan Purpose	purchase, refinance, construction-permanent
Occupancy Type	Primary residence, secondary home, investment
Property Types	Single-family residence, condo, high-rise
Loan Amount	Up to $7M
Loan to Value (LTV)	100% (PMI applicable)
Interest Options	ARM
Payment Options	Interest-only (Principal payments are allowed without PPP)
Loan Term	30 years
Documentation	Full-Doc, Stated / No-Doc
Structuring Options	Cross-collateral, ENtity Vesting, First time home buyer
DTI Requirements	50%
Credit Score	620 FICO (For loans in excess of $650K, FICO requirement is 660)
Cash Reserves	3 months PITI for primary residence and 6 months PITI for investment
Appraisal	In some cases for loans exceeding $1M, two appraisals (not more than six months old)

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Stated Income / No Doc

Stated Income Loans / No Documentation Loans

Loan Purpose	Purchase, refinance, constfuction-permanent
Occupancy Type	Primary residence, secondary home, investment
Property Types	Single-family residence, condo, high-rise condo, co-op, manufactured housing
Loan Amount	Up to $1.5M
Loan to Value (LTV)	100%
Interest Options	Fixed, ARM
Payment Options	Fully Amortized, Interest-Only, Minimum Payment (Less than Interest-Only)
Loan Term	15, 20, 25, 30, 40 years
Documentation	Stated / No-Doc
Structuring Options	Cross-collateral, entity vesting, first time home buyer
DTI Requirements	50%
Credit Score	620 FICO (For loans in excess of $650K, FICO reuirement is 660)
Cash Reserves	3 months PITI for primary residence and 6 months PITI for investment
Appraisal	In some cases for laons exceeding $1M, two appraisals (not more than six months old)

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Combo Loans

Combo Loans (80/20)

Loan Purpose	Purchase, refinance, construction-permanent
Occupancy Type	Primary residence, secondary home, investment
Property Types	Single-family residence, condo, high-rise condo, co-op, manufactured housing
Loan Amount	Up to $7M
Loan to Value (LTV)	100%
Interest Options	Fixed, ARM
Payment Options	Fully Amortized, Interest-Only
Loan Term	15, 20, 25, 30, and 40 (available in some cases) years
Documentation	Full Doc, Stated / No-Doc
Structuring Options	Cross-collateral, Entity vesting, First time home buyer
DTI Requirements	50%
Credit Score	620 FICO (For loans in excess of $650K, FICO requirement is 660)
Cash Reserves	3 months PITI for primary residence and 6 months PITI for investment
Appraisal	In some cases for loans exceeding $1M, two appraisals (not more than six months old)

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Flex Equity Loans / Credit Lines

Flex Equity Loan / Line

Loan Purpose	Home improvement, Education, Cash-out
Occupancy Type	Primary residence, Secondary home, Invesment
Property Types	Single-family residence, condo, high-rise condo, co-op, manufactured housing
Loan Amount	Up to $1M (for 720 FICO)
Loan to Value (LTV)	100% in some cases
Interest Options	Fixed and Floating (linked to Prime Rate)
Payment Options	Fully Amortized (Loan) and Interest-only (only line)
Loan Term	5, 15, 20, 25, 30 years (Loan) and revolving line of credit
Documentation	Full Doc, Stated / No-Doc
Structuring Options	n/a
DTI Requirements	50%
Credit Score	620 FICO
Cash Reserves	n/a
Appraisal	Desktop appraisal acceptable in select cases

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