What is the No Job No Income？
An Ideal Product for Primary Residence without a Job!
Available in CA, IL and HI.
No Job No Income Program Highlights
3/6 ARM (5/6 ARM rate +0.125)
♦ No job and income needed;
♦ No prepayment penalty.
♦ Most recent 1 Months Bank Statement required.
♦ 12 Months P&I Reserve (must be deposited into AAA-designated TCD account prior to closing).
♦ 50% of Down Payment Can be Gifted (for primary homes)
♦ SFR, PUD and 2-4 Units
P&I Reserve Requirement
Foreign National or Cash-Out: 24 mos
All Others: 12 mos
| Loan Amount | P&I Reserve Requirement | TCD Term | |
| Foreign National | up to $3.5MM | 24 months | 25 months |
| Non-permanent Resident | 24 months | 25 months | |
| Cash-Out | 24 months | 25 months | |
| All Others | 12 months | 13 months |
