[ad_1]
VMC’s second-lien mortgage option offers a fixed interest rate and monthly payment for primary residences and stand-alone transactions, with a maximum loan cap of up to $500,000. Other requirements include a CLTV of 90%, a minimum credit score of 680, and standard income documentation of two years.
Read more: Verus raises $606 million for non-QM securitization deal
Backed by investment firm Invictus Capital Partners, VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-agency market. The Washington, D.C.-headquartered company, with operations located in Minneapolis, has purchased over $22 billion in expanded, non-agency loans since its inception in 2015.
Want to keep up with the latest mortgage news? Get exclusive interviews, breaking news, and industry events in your inbox, and always be the first to know by subscribing to our FREE daily newsletter.
[ad_2]
Source link
