Sierra Pacific / Union Home Mortgage

Basic information

QM program

• Conventional
• Home One
• Home Ready
• Home Possible
• FHA
• FHA Streamline
• FHA DBA
• VA
• VA IRRRL
• USDA

Loss payee

Union Home Mortgage Corp., ISAOA/ATIMA P.O. Box 7115 Troy, MI, 48007 Loan #

CPL or subordinate clause

Union Home Mortgage Corp., ISAOA/ATIMA 8241 Dow Circle West Strongsville, OH, 44136 Loan #

Lock policies & fees

Lock policies

Lock extension

N/A

Relock

N/A

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Sierra Pacific Mortgage is thrilled to announce the launch of our newest products, Sierra Bay DSCR & Sierra Express DSCR 1

Sierra Bay DSCR & Sierra Express DSCR 1 are both Non-QM programs designed for borrower’s who are

Professional Real Estate investors seeking to purchase or refinance a non-owner-occupied investment properties held for business purposes. Professional Investors must have a minimum 12 months experience managing income producing real estate.

The borrower is qualified based upon the cash flow of the subject property also known as the Debt Service Coverage Ratio “DSCR”. (Gross Subject Rents divided by PITIA payment of subject property.

Highlights of the Programs include:

Loan Amts $100,000 to $2 million

Terms include fixed rate, ARM, & Interest Only

Eligible Property types: SFR, PUD, 2-4 units, Warrantable Condo & Non-Warrantable Condo

Eligible Borrowers: Individuals, Trust, & Entity (LLC’s)

The above is not all inclusive. Please refer to the Product Guidelines found in SPMC AllRegs for complete details, requirements, & restrictions.

Lender's overlays

N/A

Lender turn time

Initial underwrite (days)

4

CTC conditions review (days)

2

Initial CD (days)

1

Reviews