Quontic Bank

Thông tin cơ bản

Chương trình QM

Không có

Loss payee

Mortgagee Clause: For all other products Quontic Bank Its Successors and/or Assigns PO Box 961254 Fort Worth, TX 76161 For all HELOAN products: Quontic Bank a Federal Savings Bank, ISAOA PO Box 461470 San Antonio, TX 78246

Điều khoản CPL hoặc subordinate

Quontic Bank ISAOA/ATIMA One Rockefeller Plaza 9th Floor New York, NY 10020

Chính sách khóa lãi & phí

Chính sách khóa lãi

Gia hạn khóa lãi

Effective 02/01/2024, for all DTI-qualified loans, Rate Lock may now be requested as soon as submission (previously once loan was issued a Conditional Approval). For DSCR-qualified loans, Collateral Review must be cleared prior to the Rate Lock Request. Initial Lock Period is 30 days. Rate lock extensions are available for up to 15 days. The rate lock extension request must be made prior to the current lock expiration date. Extension fees as follows: 5 Days - 0.125 10 Days - 0.250 15 Days - 0.375 Please note all rate locks are subject to (but not limited to) satisfactory appraisal, project warrantability/eligibility (if applicable), and final underwriting. If loan terms change after the loan has already been locked, the loan will be subject to repricing and relock.

Khóa lại

Any loans where the lock has expired will be subject to worst-case pricing, meaning: If pricing is worse today, the loan will be re-locked according to today’s rate sheets for 15 days (new lock). If pricing is better today, the loan will be extended at the prior rate for an additional 15 days at no charge. If borrower/broker wishes to relock their loan under the new rates, they may only do so 15 days after latest lock date has expired (i.e., “going back to market”). Please note all rate locks are subject to (but not limited to) satisfactory appraisal, project warrantability/eligibility (if applicable), and final underwriting. If loan terms change after the loan has already been locked, the loan will be subject to repricing and relock.

Lock & Shop

Không

Thế mạnh & overlay của lender

Thế mạnh của lender

LITE DOC

•FTHB allowed on most programs

•Our VOE is 5 simple questions unlike lengthy FNMA VOE based annualized earnings, ok on 1099 

•We give you a Quontic specific P&L form. No other lender does!

•No 4506T or work number validation

•Unaudited P&L allowed •No business bank statement EVER needed to validate P&L income

•Income is determined based on Quontic’s specific P&L or VOE form

•Limited reserves and only 30 days seasoning of assets to validate for most programs

•100% gift funds and gift of equity (excludes DSCR Standard)

•Crypto allowed for Asset Utilization and reserves if needed

•Most programs allow Co-Ops, Condotels, and Non-warrantable condos

•Lite Doc Investor program solves for DSCR ratio issues

•Lite Doc ITIN 

•Foreign National DSCR, use foreign assets for cash to close and reserves

We also lend on 4 units for the second trust deeds

Overlay của lender

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Thời gian xử lý

Thẩm định ban đầu (ngày)

2

Xét điều kiện CTC (ngày)

2

CD ban đầu (ngày)

1

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