Anybody doing purchase with no ratio on primary home with 675 fico and 15% down

[Anthony Williams]

I get this question a lot these days. While most no ratio deals I work on with 740 fico go up to 75% on a purchase / investor / dscr / multi unit 2 - i have not seen anything out there for the primary residence with 15% down on no ratio deal. "The unicorn"

[Erik Estrada]

That is the most risky loan I have ever heard of. DSCR loans are for investment property loans only.

If the borrower has trouble showing income but has assets, you may want to consider an asset depletion loan or a trust income strategy on a conventional loan. 

If the borrower is self employed and does not report much you may want to consider a bank statement loan, P&L loan, or 1099 only loan.

The FICO score may be  tough to work with but if they have reserves and can put more down it can be done. The borrower also needs to be self employed