June Point Lending Inc.

Basic information

QM program

N/A

Loss payee

June Point Lending Inc., ISAOA/ATIMA, 776A 6th Avenue, 2nd Floor Office 346, New York, NY 10001

CPL or subordinate clause

June Point Lending Inc., ISAOA/ATIMA, 776A 6th Avenue, 2nd Floor Office 346, New York, NY 10001

Lock policies & fees

Lock policies

Lock extension

1.5 bps per day.

Relock

N/A

Lock & Shop

No

Lender's niche & overlays

Lender's niche

DSCR only at this time.  85% LTV on a purchase. 80% 2-4 Family. No Ratio option. DSCR ratio down to .75. Amazing technology (certainty at time of submission). Loan Amount up to $2.5M. Short-Term Rental Financing (75% on Purchase/80% on refi).  Non-Warrantable Condo & CondoTel.  First Time Investors allowed (must own primary).  

Lender's overlays

Minimum FICO of 660. Minimum loan amount of $100,000.  Reserves required (6 months PITIA - cash out counts towards reserves).  No Non-Arms's Length transactions.  

Lender turn time

Initial underwrite (days)

1

CTC conditions review (days)

1

Initial CD (days)

2

Reviews