Effective:

20160321

HF5 Investor Advantage Matrix

$2,000,000 max loan amount 3/1 & 5/1 ARMs Non-Owner Occupied
Max LTV's
FICO

Additional Program Requirements

Purchase Rate/Term Cash Out

700 +

75%

75%

70%

640

70%

70%

65%

Foreign
National

70%

60%

60%

Program

LTV

Loan Size > $1,000,000

5% Reduction

First Time Investors

5% Reduction

Unleased Properties (Refinance only)

5% Reduction

Loan Size < $100,000

70% Max

Cash Out > $200,000 (Max of $500,000)

60% Max

Interest-Only

70% Max

2-4 Units

70% Max

General Requirements
Minimum Loan Size

$75,000

Appraisals

Clear Capital CDA or comparable product required on all loans, 2 appraisals required for loans > $1,000.000

3/1 ARM Features

Index: 1yr LIBOR Margin: 6.00 Caps: 2/2/6 Floor: 6.00

Interest-Only available Interest-Only Period: 36 months

7/1 ARM Features

Index: 1yr LIBOR Margin: 6.00 Caps: 2/2/6 Floor: 6.00

Interest-Only available Interest-Only Period: 84 months

Borrower Credit

3 tradelines reporting for 12+ months or 2 tradelines reporting for 24+ months with activity in the last 12 months
24 months seasoning for bankruptcy 24 months seasoning for foreclosure, short sale, or deed-in-lieu
Evidence of current property ownership required
1x30 last 12 months for primary residence
1x60 last 12 months for investment properties; purchases only with a 5% reduction in LTV
1x60 last 12 months for non-mortgage history

Compliance
Documentation - Assets

Compliance with all applicable Federal and State regulations

Assets sourced or seasoned for 60 days Gift funds not allowed

Escrows
First Time Investors

Escrows required for taxes and insurance

Anyone who has not owned an investor property for at least 12 months

Ineligible States

AK, HI, MA, NH, NY, VT

Personal Guarantee

Personal Guarantee required for loans to LLC's or Corporations

Points

Total points & fees must be < 5%

Prepayment Penalty

3/1 ARM: 3%/3%/3%

7/1 ARM: 3%/3%/3%/3%/3%
Not allowed on loans to individuals in NJ

Property Types

Single-Family 1-4 Units Townhouses Condominiums

Seller Concessions

Up to 2% towards closing

Subordinate Financing

Not Allowed

Deephaven Mortgage LLC

NMLS #958425

This material is intended solely for the use of licensed mortgage bankers. Distribution to consumers
is strictly prohibited. Program and rates are subject to change without notice.