Loan Purpose
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Purchase
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Rate/Term Refinance
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Cash-Out Refinance
Loan Product
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30 Yr. Fixed
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5/1 ARM
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7/1 ARM
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10/1 ARM
Loan to Value (“LTV”)
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Up to 90% on Primary Residence
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Up to 80% on Second Home and Investment Properties
Minimum Property Value
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N/A
Minimum Loan Amounts
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$548,250
Maximum Loan Amounts
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$3,000,000
*Larger loan balances are only permitted on an exception basis-requires Invigorate Scenario Desk review.
Other
Product Offerings
Residential Products
Business Purpose Products
Eligible Property Types
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Single Family Residence (SFR)
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2 to 4 Family (Primary & Investor)
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Warrantable Condominiums (FNMA guides)
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Townhomes
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No mixed use
Property Locations
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Major MSA’s and secondary markets
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No Rural Properties (as designated on appraisal)
Eligible Borrowers
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U.S Citizens/Permanent Resident Aliens
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Non- Permanent Resident Aliens
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Foreign Nationals
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Inter Vivos Revocable Trusts
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Illinois Land Trusts
Documentation
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DU Underwrite ineligible Non-Conforming Balance with Invigorate Overlay
Minimum Credit Score
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700