Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

24 Months Bank Statements – Business or Personal /Co-Mingle

Alternative Income Documentation 580 Credit Score

** Bank Statement Month Options | Business or Personal (Co-Mingled) Account Statements

More and more Self-Employed Americans are finding it much easier to obtain reasonable mortgage financing. Without the alternative income documentation programs, we offer to Self-Employed borrowers, it would be very difficult to qualify for a mortgage.

Employment: Self-Employed Only 25% or > Company Ownership

For 90+% of Self-Employed Borrowers, trying to qualify for any Owner-Occupied property financing is a difficult and frustrating experience. Alt Doc programs such as: Bank Statements, 1099(s) Only, Asset Utilization and Asset Depletion programs, Stated Income also available for owner-Occupied and non-owner-occupied properties it would be far more. This large market segment and an underserved market demographic.

Interest Only available with a 40-year fixed, with 10-year Interest Only (I/O) period. to LTVs to 95% including 5% Gift Money. + 5% Borrower Contribution)

Bank Statements and Terms, by Month (co-mingled OK- case-by-case):

* One Month – Business Account

* Two Month – Business and/or Personal Account

* Six Month – Personal Account

* Twelve Month – Business Account or Personal Account (co-mingle business and personal account(s) with borrower prepared P&L)

* Twenty-Four Month – Business Account or Personal (co-mingle business and personal account(s) with borrower prepared P&L)

Loan Purposes:

* Purchase

* Refinance – Rate/Term | Cash Out – Maximum Cash-in-Hand – $1,500,000

* Bridge Financing Available

Loan Program Matrix – Credit Score – LTV

Purchase and Rate & Term | Credit Score – 550+

* 550 – 65% – $1,000,000

* 580 – 75% – $1,500,000

* 640 – 80% – $2,000,000

* 680 – 85% – $3,000,000

* 700 – 90% – $3,000,000

Cash-Out Refinance | Credit Scores – 580+

* 580 – 65% – $1,000,000

* 640 – 70% – $1,500,000

* 680 – 75% – $1,500,000

* 720 – 80% – $2,000,000

Purchase and Rate & Term | Credit Scores – 620+

* 620 – 70% – $1,000,000

* 640 – 70% – $1,500,000

* 660 – 75% – $2,000,000

* 680 – 80% – $2,500,000

* 700 – 80% – $3,000,000

Cash Out Refinance | Credit Scores – 640+

* 640 – 65% – $500,000

* 660 – 65% – $1,000,000

* 680 – 75% – $1,500,000

* 720 – 75% – $2,000,000

Eligible Occupancies:

* Primary

* Second Home

* Non-Owner-Occupied: Investment Property, Owner-Occupied / Non-Owner-Occupied, Investment Property

Eligible Property Types:

* Single Family Residence (SFR) – Attached and Detached

* Condominiums

* Unwarrantable Condos – Not Allowed

* 2-Unit Duplex

* 3-Unit Triplex

* 4-Unit

Available Terms:

* 30-Year Fixed

* 40-Year Fixed with optional Interest Only

Credit:

Major Credit / Housing Event Seasoning Requirements:

Bankruptcy:

* Settled – 70% LTV

* One Year Seasoned – 80% LTV

* Two Years Seasoned – 85% LTV

* Three Years Seasoned – 90% LTV

Foreclosure:

* Settled – 75% LTV

* One Year – 80% LTV

* Two Years – 85% LTV

* Three Years – 90% LTV

Short-Sale:

* Settled – 75% LTV

* One Year – 85% LTV

* Two Years – 90% LTV

Deed-in-Lieu:

* Settled – 75% LTV

* One Year – 8% LTV

* Two Years – 85% LTV

Documentation Expiration:

* Credit Report: <90 Days old at closing

* Income and Assets: <90 Days old at Closing

Eligible Liquid Assets Account Types:

* Socks, Bonds, Mutual Funds: 75%

* Retirement Funds Amount Invested, 65%

* Gift of Equity OK

Mortgage Pre-qualification Form – No Credit Check

Available in the Following States:

Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Illinois, Iowa, Louisiana, Mississippi, Missouri, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, Tennessee, Texas, Virginia, Washington, and Wisconsin.

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Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders