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Loan Programs for the Real World

In today's world, traditional financing doesn't always fit everyone's needs. At Castor Financial, we believe in real-world solutions. That's why we offer a suite of innovative loan programs built on alternative financing with common sense. 

PRIME Loan Program

Our Prime Loan Program is for borrowers with strong financial profiles who may have non-traditional income streams. This program is aggressively priced and offers flexibility beyond standard documentation requirements. 

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Key features include:

  • Loan Amounts: Up to $3 million.

  • FICO Scores: Starting from 660.

  • Documentation Options:

    • Full Doc: Traditional documentation like W-2s and tax returns.

    • Alt Doc/Bank Statements/P&L: Alternative documentation for self-employed individuals and those with non-traditional income.

    • DSCR (Debt Service Coverage Ratio): Qualify based on the cash flow of the investment property rather than personal income.

Prime
Prime PLUS

PRIME PLUS Loan Program

The Prime PLUS Loan Program is an enhanced solution for high-value properties and borrowers seeking more flexible terms. This program builds on the Prime loan offerings with higher loan limits and specialized features for Asset Depletion. 

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Key features include:

  • Loan Amounts: Up to $4 million.

  • Asset Depletion: 36-month depletion factor, No Minimum Asset Value, and Cash out transactions okay.

  • Stackable Income: Combine W2, Bank Statements(Business and/or Personal) and Asset Depletion on one 1003.

  • DSCR for Investors: An option is available for investment properties, allowing a DSCR as low as 0.75. AirBnB/VRBO/STR rentals accepted.

Eligibility Question?

Expanded

EXPANDED Loan Program

Our Expanded Loan Program is designed for borrowers who do not meet the strict guidelines of a conventional mortgage due to a recent credit event or other unique circumstances. These loans provide a second chance for borrowers with sufficient assets and income to qualify.

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Key features include:

  • Credit Flexibility: More lenient credit history requirements, accepting borrowers with recent bankruptcies or foreclosures.

  • Alternative Documentation: Utilizes alternative income verification methods, such as bank statements or asset depletion.

  • Wider FICO range with options down to 620.

EQUITY Loan Program

The Equity Loan Program allows you to tap into your home's equity to secure cash through a non-QM 2nd lien, allowing borrowers to leave their current low-rate 1st mortgage untouched.

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Key features of our home equity offerings include:

  • Loan Amounts: Up to $1 million.

  • AVM is used for loan amounts below $400,000.

  • Alternative documentation accepted: Bank Statements(12 months) and P&L options.

  • 15 year, 20 year, 25 year or 30 year options available.

  • Interest-only options.

  • Max DTI up to 50%.

  • DSCR options - up to $500,000 loan amounts, Min. DSCR of 1.0, eligible borrowers include Natural Persons; Corporations; LLC Entities.

Equity

Resolve Your DTI Issue

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