Select the attributes that apply to your loan and see if it qualifies for a Credit Upgrade.
A Credit Upgrade is one credit level above where the loan normally qualifies.
This program is not available for borrowers whose original credit grade is A+ or C, and this program will not upgrade a loan to Select. The maximum upgrade is A+.
Restrictions:
• Not available for Select NonQM or DSCR loans
• Loan amount may not exceed $1,500,000
• Cash out proceeds cannot be used…only the borrower’s own assets are allowed.
• Cash out ineligible if mortgage lates are reported in the most recent 6 months
