Luxury Mortgage

Basic information

QM program

N/A

Loss payee

Luxury Mortgage Corp ISAOA ATIMA Four Landmark Square Suite 300 Stamford, CT 06901

CPL or subordinate clause

Luxury Mortgage Corp ISAOA ATIMA Four Landmark Square Suite 300 Stamford, CT 06901

Lock policies & fees

Lock policies

Lock extension

Yes.

Relock

Yes

Lock & Shop

No

Lender's niche & overlays

Lender's niche

History of Luxury Mortgage:

Established in 1996

Over $1.9B in 2025 

Dedicated support team: 1 Account Executive, 1 Account Manager and 1 Sales Support Specialist and Ops Manager

Program Highlights and Loan amount maximums

Up to $5M – Full Doc, Bank Statements, 1099, Asset Qualifier, and DSCR

$4M-$5M – Full Doc, Bank Statements, 1099, Asset Qualifier

Asset Qualifier (not depletion)

-FICO as low as 620 FICO

-No DTI, Employment or Income documentation needed

-Qualification based solely on verified liquid assets

-Example: 400k loan amount with $500k in assets.

-All Occupancy types eligible

-Three methods available to calculate income.

Seconds

-Available on DSCR too

-Minimum FICO 680

-Up to 85 LTV 70 LTV on DSCR

-Loan Amounts up to $1M

DSCR

-DSCR down to 620 FICO

-No escrows required up to 80% LTV

-Can qualify off I/O up to 75% max LTV, 700 FICO required

-DSCR as low as .75 

-DSCR 5-10 units (escrows required)

-Mixed use available, no more than 1 commercial unit

P&L Only Program

-FICO 700 minimum

-DTI up to 50%

-Max LTV:80%  for Primary; 75% for Second Homes/Non-Owner Occupied

-Loan amounts up to $1.5MM

Bank Statements

-FICO scores down to 620

- 90% LTV with a 700 Fico

-Use middle FICO of primary wage earner

-Expense factor can be provided by any CPA or tax preparer.

Minimum expense factor is 10%

-Max DTI: 50%
- Can combine other incomes, W2, lease agreements, SSI, 1099

Full Doc

-FICO scores down to 620

-Use middle FICO of primary wage earner

-Loan amounts up to $5M

-Up to 55% DTI with 680+ FICO, Max LTV 70%, Purchase or Rate & Term only

1099

-10% expense factor applied

-Can use 1 or 2 years 1099s

- 90% of 1099 income used for qualification

- 1099s issued to an entity are acceptable if the borrower owns 100% of the entity and expenses are limited.

Other programs available

- Prime Non-QM:  A paper pricing available on Bank Statement, DSCR, and 1099 programs

- Foreign National

- ITIN

Miscellaneous:

2-1 Buydowns for Primary and Second homes( Builder or Seller only)

- Closings in as fast as 6 days (submission to funding)

- Transferred appraisals OK

- Highly competitive pricing, especially for purchase transactions

- 40-year terms available

- Guideline exceptions considered – can be reviewed prior to submission

DSCR loans . 35 States where Loan officers do not need to be Licensed

Lender's overlays

Please reach out to me on this.

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

2

Initial CD (days)

1

Reviews