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U.S. Bank Wholesale Prime Plus
12 Ways We Can Grow Your Business!
1.
Loan amounts to $3,000,000:
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a. 90% CLTV to $2,000,000: 740+ credit score (with other lenders 2 )
b. 90% LTV to $750,000: 740+ credit score (one loan, no MI)
c. 85% CLTV to $1,500,000: 720+ credit score (first/second combo)
d. 80% LTV to $1,500,000: 720+ credit score (one loan)
e. 80% CLTV to $1,250,000: 700+ credit score (first/second combo)
f. 80% LTV to $900,000: 680+ credit score (one loan)
g. 75% LTV to $900,000: 660+ credit score (one loan)
h. 75% LTV to $2,000,000: 720+ credit score (one loan)
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i. 60% LTV to $3,000,000: 740+ credit score (one loan)
2.
Cash in hand allowed up to $1,500,000: P&I products only. If < 50% LTV max cash in hand on a 1st = $500K. If 50.01%-70%
LTV max cash in hand on a 1st = $300K. 1st/2nd HELOC combo can get more cash out up to 75% CLTV
3.
Interest only 1 mortgages: Up to 65% LTV to $1,500,000. 70% LTV to $1,000,000. 80% to $650,000. 720+ credit required for
both applicants, rate/term & purchase only, maximum 45% DTI. Combined income must be $150,000+/year to offer interest only &
borrowers must have $250,000+ in reserves. HELOCs up to 80% CLTV may be available for higher combined loan amounts and
cash in hand with interest only payments.
4.
DTI: 43% DTI allowed on P&I 1 position loans up to 90% LTV
5.
Reserves: Minimum 6+ months PITI, product and loan amount determine reserve requirement (IO product is higher of $250,000
or 24 mos. PITI required)
6.
NOO investment properties: $650,000 max, 75% LTV max, 80% CLTV with outside lender, purchase and rate/term only, ARMs
and Fixed Terms offered (No interest only)
7.
3-4 units: $650,000 max, 75% LTV max, 80% CLTV with outside lender, purchase and rate and term only (No interest only)
8.
Vacation / 2 home: 65% LTV to $1,500,000. 70% to $1,000,000. 75% to 650,000. ARMs and Fixed Terms offered. Max CLTV
is 80% with outside lender. Interest only available to $1,000,000. Cash out allowed on P&I products only to $1,000,000 loan
amount
9.
Condos: $650,000 max, 75% LTV max, 80% CLTV with outside lender, interest only, ARMs and Fixed Terms offered, cash out
allowed on P&I products only
a. Available on primary residences, second/vacation homes, and investment properties, including high-rise buildings
b. Project approval required, contact your account executive for complete details
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10. 2nds and HELOCs available behind a U.S. Bank first only: Up to 85% CLTV. Primary and 2
investment properties. 700+ credit required (See state specific requirements for Texas)
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/ vacation homes only, no
11. First position HELOCs up to $250,000
12. Other highlights:
a. Cash out = cash in hand, paying of non-mortgage debt, or paying off non-purchase/non-home improvement second mortgage
debt
b. Primary wage earner’s middle credit score used for pricing
c. 100% down payment available from various sources/Gift funds allowed for LTV <85% CLTV from family member
d. No rate adds for cash out on 1st mortgages or property types including investment properties, second homes, condos under 4
stories or 3-4 units (See state specific requirements for Texas)
e. Does not require DU/LP approval
f. Asset dissipation program available
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Max loan amounts to $2,000,000 in California
MMWR-59109 12-16-14
usubmit.usbank.com
This information is provided to assist Correspondents and Wholesale Clients and is not a consumer credit advertisement as defined by Regulation Z. Loan approval is subject
to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rates and program terms are subject to change without
notice. Visit usbank.com to learn more about U.S. Bank products and services. Mortgage and Home Equity Products are offered through U.S. Bank National Association.
Deposit Products are offered through U.S. Bank National Association, Member FDIC. ©2014 U.S. Bank