December 2018

Income Documentation - One Month Bank Statement Program

Non-Prime Mortgage Program - This loan program is considered "Non-Prime" simply because the guidelines allow for seasoned derogatory credit report tradelines (accounts).

Non-QM Mortgage Program

Purchase / Refinance Rate/Term

Owner-Occupied Only

Single Family Residence Only

  • LTV:
    • 80% Purchase
    • 75% Refinance (Rate&Term)
    • 70% Refinance (Cash-Out)

Maximum Loan Amount: $5,000,000

Credit:

Clean mortgage history - 5 years seasoned (24-month history verification)

  • Depth (criteria):
    • One open account with at least 3 years seasoning
    • Two open account's with at least 3 years seasoning
  • Major "Credit Event" Required Seasoning: 
    • Bankruptcy - 5 years
    • Foreclosure - 5years
    • Short Sale - 5 years
    • Deed-In-Lieu - 5 years
  • Consumer Credit
    • Charge-offs, Collections, Tax Liens - 5 years seasoned