Primary/Second Home Mortgage.
Tailor-made to Meet Your Individual Needs.
When your estate comes with a high price tag look no further than the OMEGA program. Built to accommodate the needs of the mass affluent and high net worth in the purchase or refinance of primary residential and second home residences.
- Purchase or Refinance
- Loan Amounts to $5,000,000
- Fixed Rate Amortization Options
- 10 Year Interest Only Option – No rate or pricing adjustments
- No Tax Return Required – Ability to Repay calculated off stability of cash flows
- 12 Months Bank Statement – Blended Cash Flow Ok
- Asset Utilization – 36 I 84 Month Options
- Rate & Term Classification – Payoff of Tradeline, Lien or IRS Installment Plan
- Reserve Waiver – DTI < 45% or Rate & Term Refinance with overall payment reduction > $1.00
- Cash Out to LTV Limitations – No rate or pricing adjustments
PCMA understands the needs of complex and sophisticated estates. Born out of our proprietary private client credit portfolio, OMEGA is a unique blend of Private Client Flexibility and Concierge Services delivering a bespoke lending experience for our aspirational clientele.
Safe vs non-safe harbor loans
Requirements are based on analysis of the borrower’s ability to repay based on income, assets, and debts.
- Full Documentation of Pre-Tax Income (Tax Returns)
- Monthly Debt Payments not to Exceed 43%
- No Interest Only Payment Options
- No Balloon Payment Feature
- No Negative Amortization
Crisis regulations born out of the Dodd-Frank legislation redefined the housing and residential credit markets causing a scenario of unintended consequences that pushed the Mass Affluent (MAI) and High Net-Worth (HNWI) to the sidelines and forced an enormous amount of buying power out of the market.
Ability to repay verification for Safe Harbor protection is a challenge for those in the private client community. Using Non-Safe Harbor underwriting considerations allows a borrower to use bank statements to verify regular deposits to determine income used for qualification. Additionally, high capacity households have accumulated assets that my qualify for simulated depletion or dissipation calculations which can be used to further qualify the borrower’s ability to repay the obligation.
Best and Final Pricing A Private Client Pricing Model.
All our programs are presented as a “Best and Final” offering. We always trade on the side of our client and our “Best and Final” pricing allows us to be customer centric. We take a Private Client approach to our Best and Final offerings to respect all of our clients in a manner that is not traditionally respected in the credit industry.
How can we ever claim to be client centric if we allow one client to out negotiate another client, therefore we have no respect for any of our clients. Our ‘Best and Final’ approach simplifies the terms offered and takes the complexity and stress out of the point of sale.