WESLEND WHOLESALE - YOUR FASTER, EASIER, BETTER LENDING PARTNER!
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INVESTOR PROGRAM COMPARISON TOOL

INVESTOR
.
VIP
I-VIP
Loan Amount Range
.
​$200K-$3.0MM
​$200K-$3.0MM
.
.
.
.
.

​



.


First Time Investor
.
No
Yes w/$750K Max Loan Amount
Experienced Investor (12 Months Experience in Last 36 Months)
.
Required
Allowed < 12 Mo. with Restrictions​
Maximum LTV
.
75%
80%
Maximum Cash-Out
.
$750K
$1.0MM
Housing History Owner Occupied
.
Yes
Yes
Minimum FICO
.
660
620
Interest Only & Qualify at I/O?
.
Yes - Max 75%
Yes
Term Options
.
30 & 40 Year (I/O for first 10 Years)
30 & 40 Year ​(I/O for first 10 Years)
Short Term Rental (Air BnB)
.
Yes*
Yes*
Rural Properties
.
No
No
Unleased 1-4 Unit Purchase
.
Max 1 of 4 Units Unleased
Max 1 of 4 Units Unleased
Vacant Single Unit Refinance
.
Yes w/ Restrictions
Yes w/ Restrictions
Vacant 2-4 Unit Refinance
.
Yes (Max 1 Unit)
Yes (Max 1 Unit)
Vacancy Factor
.
None
None
ADU Accessory Unit Income (1-4)​
.
Yes
Yes
Elite Investor (5+ Rentals & 3 Loans over Last 3 Years)
​Rate Mortgage Only on Subject Property Rental
.
N/A
Yes
Bankruptcy
.
4+ Years
​OK, 12 / 24 / 36 Months
Reduce LTV 10% / 5% / 0%
Rent Higher than Appraiser Survey
.
3 Mo. Proof & Must be Reasonable
3 Mo. Proof & Must be Reasonable
Rent Loss Insurance
.
6 Months
6 Months
Financed Property Limit
.
None
None
Maximum Number of Loans We Fund to One Borrower
.
8
8
​Gift Funds Allowed
.
Yes (but not for reserves)
Yes (but not for reserves)
Mortgage Lates
.
​1x30x12
1x30x12  /  0x60x12
Primary Cannot be Listed for Sale
.
Yes
Yes
Listed for Sale Last 6 Months
.
Yes with 3-Year Pre-Pay
Yes with 3-Year Pre-Pay
4506
.
No
No
Disclose All REO's on 1003
.
Yes
Yes
Pre Payment Penalty Required
.
​1, 2, 3 or 5 Year
​1, 2, 3 or 5 Year
Minimum Reserves
.
6 Months to $1MM, 9 Months to $1.5M, 12 Months to $3MM
6 Months to $1MM, 9 Months to $1.5M, 12 Months to $3MM
Reduced Reserves
.
N/A
3 Month Reserve Reduction with 5% LTV Reduction
Reserves for Each Additional Financed Property
.
Yes (1 Month)
Yes (1 Month)
Cash Out as Reserves
.
Yes
Yes
Personal Guaranty for All
​Non-Individual Vesting
.
Yes
Yes
DSCR LEVELS***
0.750 to 0.99
1.00 to 1.09
1.10 to 1.14
​1.15+
.
No
No
Yes
​Yes
Yes
Yes
Yes
​Yes
​​Additional Notes
.
ELITE INVESTOR - No mortgage ratings on borrower's primary or other properties. Must own 5+ properties and 3 mortgages within past 3 years.
ELITE INVESTOR - No mortgage ratings on borrower's primary or other properties. Must own 5+ properties and 3 mortgages within past 3 years.
* with 12 months 3rd party history | ​*** Interest Only Loans May Qualify Using ITIA (vs. PITIA)
Documentation of receipts of rents (equal to lease agreement) for most recent 2-month period required.
New leases executed within 6 months of note date require documented receipt of security deposit and the most recent 3 month's rent.
MORE INFORMATION
  • Home
  • TODAY'S RATE SHEETS
  • Products
    • Conventional
    • Jumbo Programs
    • Bank Statement
    • Investor DSCR
    • Asset Qualifier
    • FHA / VA
    • Address TBD
  • Resources
    • Forms & Docs
    • Appraisal Services
    • Announcements
    • Guidelines
    • Rates >
      • AGENCY/JUMBO ARCHIVES
      • NON-QM ARCHIVES
    • Turn Times
    • Funding Calendar
    • Blog
  • Get Approved
  • About
    • COVID 19
    • Why WesLend?
    • Where We Lend
    • Testimonials
    • Contact
    • Careers
  • Broker Login