First Lien Interest Only

Loan Purpose

  • Purchase

  • Rate/Term Refinance

  • Cash-Out Refinance

Loan Product

  • 10 Year interest only - 30 Year Loan​

Loan to Value (“LTV”)

  • Up to 85% on Primary Residence

  • Up to 80% on Second Home and Investment Properties

Minimum Loan Amounts

  • $100,000

Maximum Loan Amounts

  • $1,500,000*

*Larger loan balances are only permitted on an exception basis-requires Invigorate Scenario Desk review

Minimum Property Value

  • $200,000

Other

Product Offerings

Residential Products

Business Purpose Products

Eligible Property Types

  • Single Family Residence (SFR)

  • 2 to 4 Family (Primary & Investor)

  • Warrantable Condominiums (FNMA guides)

  • Townhomes

  • No mixed use

Property Locations

  • Major MSA’s and secondary markets

  • No Rural Properties (as designated on appraisal)

Eligible Borrowers

  • U.S Citizens/Permanent Resident Aliens

  • Non- Permanent Resident Aliens

  • Foreign Nationals

  • Inter Vivos Revocable Trusts 

  • Illinois Land Trusts

Documentation

  • DU Underwrite (with return of Non-conforming Payment Type and/or Non-conforming Balance with Invigorate Overlay)

Minimum Credit Score

  • 660