Washington, D.C. – December 4, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, announced the launch of Prime Ascent Plus, a higher balance loan program for applicants with alternative income documentation.
The following features are available to choose from:
- LTVs up to 90%
- FICOs down to 660
- 24-month standard documentation options
- 12- and 24-month alternative documentation options for self-employed borrowers
- 24-month Alt Doc 1099
- DTI up to 50%
- Loan amounts from $150k to $2.5mm
Prime Ascent Plus is available for second homes, investment properties, and interest-only loans. There are cash-out options as well.
Verus’ Executive Vice President of Correspondent Sales, Jeff Schaefer, believes this new program will answer many needs in the marketplace. “There is a significant number of creditworthy individuals that need higher balance loans but struggle with qualifying for one reason or another. Our new Prime Ascent Plus Program is inherently flexible which makes it a suitable option that lenders can confidently offer their borrowers.”
About Verus Mortgage Capital
Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-agency market. It offers correspondent lenders a wide range of home financing products for creditworthy borrowers.
The Washington, D.C.-based company, with operations located in Minneapolis, has purchased in almost $6 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed 13 rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.