Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

Bank Statement Loan to 75% LTV 620 Credit Score

Six Alternative Income Verification Options

Non-QM loan program uses bank statements In lieu of Traditional Income Documentation to determine a borrower’s Ability-to-Repay. Agency – government regulated. Non-QM is manually underwritten per investor guidelines as well as underwriter discretion.

Alternative Non-QM Income Documentation Options for the Self-Employed Borrower

Tax Returns not required; Form 4506-T not required. Form 4506-C is also not required for Self-Employed borrowers. Form 4506-C is required for W2 Wage Earners only. If W2 Income is Mixed with Self-Employment Bank Statement Income. Proof of Payment will be Required. Self-Employment defined as >25% Ownership to qualify as “self-employed”.

Bank Statement and Asset Depletion

* 3 Alt Doc and 3 Reduced Doc

* 12 Months Business Account statements or Personal Account statements (6 month bank statement programs also available)

* 24 Months Business Account statements or Personal Account statements. Note: We can Co-Mingle Multiple Accounts when it makes sense

* Asset Depletion (Quantify Additional Qualifying Income), Asset-Based. Pledged Asset Portfolio Programs Also available.

Reduced Doc: Unseasoned Job/Profession History and Income

Self-Employed and Co-Borrower W2 Wage Earners

* 1 Year Tax Returns – 600 Credit Score

* 1 Year W2 – 580 Credit Score

* 1 Year 1099 Only – 620 Credit Score

Liquid Reserves Requirement: 6 Months Reserves (Subject Property Housing Expense). Note: Cash Out Can be used to Meet Reserve Requirement

Maximum loan amount is $3,000,000 to 90% LTV and a maximum Cash Out (cash-in-hand) dollar Amount of $1,000,000. Loan Amount exceptions made to $10,000,000. Lenient DTI Guidelines to 55%. Exceptions to 60% DTI.

Eligible Property Types

SFR, PUD, 2 Unit, 4 Unit, Condo, Modular, Mixed Use, and Specialty Homes

Eligible Occupancies

* Owner-Occupied/Primary Residence

* Second/Vacation Home

* Non-Owner-Occupied/Investment Property

Available Terms

* 30 Year Fixed

* 15 Year Fixed

* 5/6 ARM

* 7/1 ARM

Interest Only Available on both the ARM Product as well as the Fixed Rate Product!!

Credit Notes

Traditional Credit Only

Credit Rescore to Qualify for More Loan (or a Better (more suitable) Loan Program: Terms, Pricing, Conditions, etc.

Credit Event Seasoning Requirements for this Alt Doc Program

* Bankruptcy – 24 Months

* Foreclosures – 24 Months

* Short Sale – 24 Months

Loan Scenario Form- No Cost – No Credit Check

Available in the Following States:

Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Mississippi, Missouri, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and Wisconsin.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders