Visio Lending

Basic information

QM program

N/A

Loss payee

Investor Mortgage Finance, LLC ISAOA/ATIMA 1905 Kramer Lane, Suite B-700 Austin, TX 78758

CPL or subordinate clause

Lender requires 24 month chain of title, with considerations where available, copy of any deed within the last 24 months, tax certification or search with due dates and amounts due, wire instructions, patriot act search, and CPL. TITLE COMMITMENTS ARE NEEDED WITHIN 5 BUSINESS DAYS.

Lock policies & fees

Lock policies

Lock extension

Underwriting Guidelines apply to loans with Rate Locks on or after the Effective Date through the Rate Lock expiration date. Loans must close by the Rate Lock expiration date. - Loans will receive a 45 day rate lock from appraisal paid date or third party appraisal approved date - Preprocessing: o Locked loans have 5 calendar days to enter pre-processing, i.e., 40 days must remain on lock to enter processing. o Management or lock desk will manually bust locks that don’t make it to processing in time by moving the expiration date in the system to the 5th day. o Loans with the busted, expired locks will relock at STP with the new 45 day lock. o Sales ops will kickback loans if they are not properly priced on the correct rate sheet. - Processing: o Locked loans must be submitted to QC with at least 6 days remaining on the lock o Loans can relock within 7 days of expiration if not yet in QC o Loans with expired rate locks must be relocked within 2 business days or will be placed on hold One float down is available per loan. Rates must drop by at least 25 basis points. The loan will relock on the current day rate sheet and keep the same rate lock expiration date. The original lock must have at least 10 days remaining. Loans with float downs may not have a rush/next day closing date.

Relock

Loans will be relocked on that days rate card

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Visio Lending is the nation's premier lender for buy and hold investors offering, long-term loans for SFR rental properties, including vacation rentals.

•             Max LTV LTR –  80% Purchase, 80% Rate&Term Refi, 75% Cash-Out Refinance

• New 85% MAX LTV LTR & STR, Purchase, R&T with 1.1 DSCR on LTR, and 1.25 on STR

•             Max LTV STR -- 80% Purchase, 80% Rate&Term Refi, 75% Cash-Out Refinance

•             True Par Pricing for Brokers – Rates starting at Zero Lender Points

•             Free 45 Day Rate Lock from appraisal Paid Date

•             YSP available

 With Visio, investors can take advantage of:

•             45-day FREE rate locks

•             Qualifications based on property cash flow, no personal DTI, no tax returns.

•             Full 30-year terms with no balloons; and

•             The ability to protect your identity by financing through a corporate entity

Lender's overlays

SFR - Investment Properties Only 

•             Minimum DSCR 1.0

•             Minimum Loan Amount $100K, Maximum $2.5M (exceptions can be granted for over $2.5M)

• 85% Minimum Loan Amount $250k

•             Minimum Property Value or Purchase Price $150K

•             Minimum Credit Score requirement 680

Lender turn time

Initial underwrite (days)

5

CTC conditions review (days)

2

Initial CD (days)

2

Reviews