Button Finance, Inc.

Basic information

QM program

N/A

Loss payee

Button Finance, Inc. ISAOA/ATIMA 50 Main Street #1053 White Plains, NY 10606

CPL or subordinate clause

depends on servicer

Lock policies & fees

Lock policies

Lock extension

There is a limit of 1 extension per loan ○ A 2nd extension can be approved on an exception basis, the cost is DOUBLE of what the 1st extension would be ● The cost of a 15-day extension is an addition of 0.125% to the rate ● The cost of a 30-day extension is an addition of 0.250% to the rate

Relock

SUBJECT TO DURATION

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Button Finance is a second lien lender offering -

Fixed Rate HELOANs for 10/15/20 and 30 years

HELOCs with 3, 5 or 10 year draws and terms of 10/15/20 and 30 years

Primary Residence to 85% CLTV for 1-4 units

Investment Properties to 80% CLTV -70% CLTV for 2-4 units

Bank Statement Program for O/O, 2^nd Home and Investment Properties

FICO scores as low as 620. DTI up to 50%

Lender's overlays

TEXAS IS ONLY FIXED HELOAN

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

2

Reviews