NMLS#1604483 – NMLS Consumer Access Site | © 2019 EnTrust Funding, LLC. All Rights Reserved.

FAQ

Loans tailored for the nontraditional borrower.

We help the self-employed qualify. From business owners to independent contractors, we offer programs that other financial institutions do not.

BANK STATEMENT PROGRAM

 

Qualify by using bank statements to document your income.

 

Are you a self-employed borrower and are unable to qualify for a loan using traditional income? EnTrust Funding’s bank statement program might be the loan for you.

 

 

  • Obtain a loan for up to 90% Loan to Value Ratio

  • Loans up to $2 Million

  • FICO scores down to 620 * Max 80% LTV

  • Interest Only Options offered in this program

  • Rate and Term Refinance, Cash-out Refinance, and Purchase Options Available

PLEDGE ASSETS LOAN PROGRAM

 

Utilize your pledge assets in lieu of a down payment.

 

Overview

The Pledge Assets Loan Program offers financing up to 90% of a home’s value by pledging security assets or savings in lieu of a down-payment, second mortgage or home equity loan. This program is ideal for clients who wish to defer capital gains or losses while maintaining their investment strategy and continually benefiting from interest, dividends and investment appreciation.

 

Benefits & Features

  • Up to 90% financing available with this program.

  • Any person may pledge assets on behalf of a borrower in lieu of a down payment.

  • Available on all EnTrust Funding portfolio products including second homes, investment properties and in conjunction with cash-out refinance.

  • Ability to defer capital gains tax by keeping the investment strategy in place and continually benefiting from interest, dividends and investment appreciation.

  • Pledged assets may be kept with EnTrust Funding or brokerage firm of choice, as long as certain pledge account requirements are met.

  • Eligible assets include stocks, bonds, mutual funds, CDs, money market, savings, and others (retirement accounts are not eligible).

  • Trading is allowed in pledged account.

FOREIGN NATIONAL PROGRAM

 

Qualify for a home loan without a Social Security Number, Green Card or a Visa.

 

Non-Resident Alien:

  • Borrower is not required to have a Green Card, SS# or Visa.

  • If the income, credit and asset documentation is in a foreign language, it must be translated by a certified translator. The bank requires the translator’s certificate, as well as each translated page to be stamped by the translator.

  • Note: All U.S. Embassies provide translation services.

  • Include a business card or letterhead of the translator, tax preparer and/or CPA so the bank may contact them if needed.

  • Power of Attorney is not permitted.

  • For purchases and no cash out refinances without an ITIN, the bank requires a letter from the borrower stating they do not have an ITIN number, as they have no desire to file US taxes.

  • Borrowers seeking cash out refinances over $100,000 and purchases on investment must have an ITIN number or proof they have applied for one.

Credit:

  • No FICO required.

  • Borrowers may provide alternative credit qualifications with four credit references from country of origin. Must be on company letterhead and show a rating for minimum of 12 months.

  • International credit reports are acceptable to prove credit worthiness, such as www.intlreporting.com.

  • Borrowers must show proof of properties owned free and clear in another country, along with proof of insurance and HOA if applicable. If there is a loan on the property, the bank requires a copy of the mortgage statement.

 

Additional Documentation for Gift/Donors:

  • Copy of donor’s ID

  • Donor’s place of employment

  • Copy of bank statement

ASSET DEPLETION PROGRAM

 

Unable to obtain a traditional financing? Utilize your liquid assets to qualify for a home loan.

 

Overview

We recognize that many highly qualified borrowers with proven credit and financial stability may still have difficulty qualifying under traditional underwriting guidelines. At EnTrust Funding use asset depletion to assist in meeting ratio guidelines for borrowers with significant assets.

 

Common Sense Underwriting

  • With EnTrust Funding’s asset depletion program, your borrowers may use their liquid assets to assist in meeting full doc DTI requirements.

  • Complex income scenarios: self-employed, retired, trust income recipients, corporate buy-outs.

  • Full income documentation underwriting according to guidelines.

STATED INCOME VERIFIED PROGRAM

 

Designed for high net worth clients that cannot document their income.

  • Borrowers are qualified based on verified liquid assets.

  • Assets must be documented –Business Bank Statements from 3 to 6 months depending on Assets.

  • Loan Amounts up to $2 million min L/A $422,101

  • LTV’s up to 70% at $1 million or 60% at $2 million

  • FICO scores as low as 700

  • Cash out up to $400,000

  • 5/1 & 7/1 ARM products only available.

  • SFR’s and PUD’s only

  • Purchase, Rate & Term and Cash out Only.

  • Minimum Net Worth required of $750,000 from all combined sources including business assets, personal property and equity in home.

 

ALTERNATIVE SECOND CHANCE PROGRAMS

Alternative and Second Chance mortgages offer homeowner’s a fresh start.

 

You can get a mortgage one day out of foreclosure, short sale, or bankruptcy. This entire product line has absolutely no prepayment penalties and you are free to refinance your home as soon as you meet traditional lending guidelines.

 

Designed for borrowers that are re-entering the marketplace after a credit event or housing event. Borrower’s that have the following issues can be accommodated and granted credit.

 

  • Maximum 90% financing is available to borrowers that have re-established their credit histories and have a minimum number of trade lines.

  • Minimum FICO score for Full Doc loans is 600.

  • Loan is a Section 35 HPML loan.

  • We offer 5/1, 7/1 , 15 and 30 Year fixed rate options with no pre-pays on fully amortizing mortgages. I.O. option available on all loans.

  • We finance SFR’s, Condo’s both low rise and high rise, 2-4 unit properties and non-warrantable condo’s.

  • We finance Owner Occupied, Second Homes and Non-Owner properties.

Permitted Loan Purpose Types

  • Purchase

  • Rate and Term Refinance

  • Cash-Out Refinance

  • Lease option to purchase

  • Recorded and unrecorded land contracts

  • Loan on inherited properties

  • Loan on property owned free and clear

  • Permanent financing replacing construction loans.

  • Loans with no seasoning requirements when Free and Clear