NewPoint Mortgage LLC

Basic information

QM program

N/A

Loss payee

NewPoint Mortgage LLC ISAOA ATIMA 12 S. Summit Ave., #100 Gaithersburg, MD 20877

CPL or subordinate clause

NewPoint Mortgage LLC ISAOA ATIMA 12 S. Summit Ave., #100 Gaithersburg, MD 20877

Lock policies & fees

Lock policies

Lock extension

.125 7 days or .375 15 days as of 11/25/24

Relock

after 30days

Lock & Shop

No

Lender's niche & overlays

Lender's niche

• ITIN Max LTV 85%
• VOE Only
• Foreign National Programs
• P&L or 1099 Only to 3 million 
• DSCR - Upto 85% LTV (Purchase with 720 Fico)
• Bank Statement Loans
• Jumbo
• Condotel & Non Warrantable Condos
• Single Investment Property  5 – 10 Residential Units and 2 – 10 Mixed Use
• Max loan 4 Million - Min 150k

New: 2nd Mortgage! 150k -750k loan amounts min fico 660!

Exceptions can be made case by case. Please email scenario with 1003 and credit report.

Exceptions granted - DTI - Fico - Loan amount - And more!

 

FAQ's:

• Min Fico 600 to 70 ltv Purchase or 65 LTV Refi
• Cannabis income allowed in approved states
• Gift Funds allowed and Gift Equity. Inquire for more details. Reply to email.
• No ratio DSCR to 60 ltv.
• Short-term rentals allowed
• Yes - We can do NW condos
• We take transfer appraisals
• No NMLS Lic needed for business purpose loans

Lender's overlays

None

Lender turn time

Initial underwrite (days)

2

CTC conditions review (days)

2

Initial CD (days)

2

Reviews