• This 6 Month Super Jumbo Bank Statement Non-Qualified Mortgage (Non-QM) Loan program is for all residential property types and occupancy types including investment properties. This lender requires a minimum credit score of 660 and goes to a maximum loan-to-value ratio (LTV) of 80% See details below:

    Alternative Income Documentation: 6 Months Business Bank Account Statements or Personal Bank Account Statements

    Minimum Credit Score - 660

    Eligible Transactions:

    • Purchase
    • Refinance - Rate/Term
    • Refinance - Cash Out

    Eligible Occupancies:

    • Owner-Occupied / Primary Residence
    • Second Homes
    • Investment

    Eligible Property Types:

    • Single Family Residence (SFR)
    • Condominiums (including non-warrantable condos)
    • Planned Urban Development (PUD's)
    • 2 - 4 Unit


    Loan-to-Value / Maximum Loan Amounts:

    Property Types - SFR, Condos and PUD's

    • Owner-Occupied - Purchase and Rate/Term Refinance
      • 80% LTV - $1,000,000
      • 75% LTV - $3,000,00
    • Owner-Occupied - Cash Out Refinance
      • 70% LTV - $1,000,000
      • 65% LTV - $3,000,000
    • Second Home - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Second Home - Cash Out Refinance:
      • 65% LTV - $3,000,000


    Property Types - 2-4 Unit's

    • Owner-Occupied / Second Home - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Owner Occupied / Second Home - Cash Out Refinance
      • 65% LTV - $3,000,000


    Property Types - SFR, 1-4 Units, Condos & PUD's

    • Investment Property - Purchase and Rate/Term Refinance
      • 70% LTV - $3,000,000
    • Investment Property - Cash Out Refinance
      • 65% LTV - $3,000,000

     

    Ref# 548 10-13-1-3 554 22-5-14

  • Asset-Based Loan Program

    Qualifying criteria for this loan program is liquid asset-centric. Retirement Account funds qualify.

    4506-T Not Required

    This loan program is specifically designed for high net worth borrowers. Qualifying calculation based on verified liquid assets as an alternative method to income verification to determine borrowers ATR Ability to Repair.

    Our investors take a common sense approach to underwriting the creditworthiness of a particular borrower in regard to the individual's ability to repay the loan. People and their financial situations can be complex and unique, each with their own qualities and compensating factors. Our objective is to identify a borrower's reasonable ability to repay a loan while mitigating risk for the end investor. Often the answer is overwhelmingly obvious that the applicant is worthy of a loan and thus the interest rate, fees and terms offered are very reasonable. Unconventional income is often better in terms of proper evaluation. This decision is centered upon the verification of the income documents provided by the borrower.

    Verified Assets for income, down payment, closing costs and cash reserves

    Foreign Nationals OK for second homes and Investment property

    Alternative Income Documentation:

    • 12 months bank statements - large or disproportionate deposits must be sourced
    • No Tax Returns, W-2's, paycheck stubs, profit and loss statements
    • Self Employed and W-2 salary employees - OK

    Asset Documentation:

    • 12 months seasoned required - actual bank statements, not computer browser summary print out
    • VOD / Verification of Deposit - OK
    • Liquid assets for down payment and closing costs required

    Acceptable Asset Documentation Sources:

    • Checking and savings account - 100%
    • Stocks and bonds - 75%
    • Mutual funds - 75%
    • 401K and IRA - 75%

    "Business funds" not acceptable

    Loan Amount - Liquid Reserve Requirement Matrix:

    The amount of liquid reserves required is quantified by the number of month's cash reserves as well as the total loan amount

    • 0 - $417,000 - 6 months' reserves / liquid assets
    • $625,000 - 9 months' reserves / liquid assets
    • $1,000,000 - 12 months' reserves / liquid assets
    • $2,000,000 - 18 months' reserves / liquid assets
    • $3,000,000 - 24 months' reserves / liquid assets

    Loan Purpose:

    • Purchase
    • Refinance Rate & Term
    • Refinance and Cash Out

    Property Types:

    SFR / Single Family Residence

    • PUD's
    • 1-2 Units
    • Condos

    Owner Occupied / Primary Residence

    • 680 Credit Score
      • 70% LTV to $750,000
      • 65% LTV to $2,000,000
      • 50% LTV to $3,000,000

    $750,000 Maximum loan amount

    $500,000 maximum cash out

    Second Home

    • 680 Credit Score
      • 65% LTV to $750,000
      • 60% LTV to $2,000,000con
      • 50% LTV to $3,000,000

    $500,000 maximum cash out

    Investment Property:

    • 660 Credit Score
      • 75% LTV to $750,000
      • 65% LTV to $2,000,000
      • 50% LTV to $3,000,000

    $500,000 Maximum Cash Out

    Cash Out requirements- 12 months title seasoning required to use current market value for LTV qualification

    Credit Criteria:

    • 680 Credit Score
      • Foreclosure - 2 years seasoned
      • Bankruptcy - 4 years seasoned
      • Short Sale - 2 years seasoned
      • Mortgage lates - 2 years seasoned
      • Derogatory tradelines (liens, judgments, charge-offs, and collections) - 2 years seasoned

    Tradelines:

    • 5 tradelines - 24 months history
    • 3 tradelines open and active - 24-month history

    Underwriter Notes:

    Loan Amounts greater than $1,000,000 requires 2 appraisals

    Gift money and or equity - no can do

    Permanent and Non-Permanent Resident Aliens - OK

    First Time Homebuyers - OK to 60% LTV with a maximum loan amount of $1,200,000

    Nonexistent housing history for last 2 years considered

    Dodd-Frank Compliant

    States: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Virginia, Vermont, Washington, Wisconsin, West Virginia

     

    Reference # 444 010288

  • Non-Prime Super Jumbo Bank Statement Loan

    Maximum Loan Amount - $4,000,000

    Be advised, the following Credit Scores are Mortgage Credit Scores - Consult a Mortgage Professional to be properly pre-qualified without having your credit checked.bank

    No Liquid reserve requirement

    Short Sale seasoning - 1 day 

    Alternative Documentation for Self Employed:

    Form 4506T Not Required (no tax returns before, during or after Close of Escrow)

    24 consecutive months Personal or Business bank statements

    Purchase Loans:

    • 90% LTV - 700 Middle Credit Score
    • 85% LTV - 650 Middle Credit Score
    • 80% LTV - 600 Middle Credit Score
    • 75% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score

    Cash Out Refinance:

    • 75% LTV - 700 Middle Credit Score
    • 75% LTV - 650 Middle Credit Score
    • 75% LTV - 600 Middle Credit Score
    • 70% LTV - 550 Middle Credit Score
    • 65% LTV - 500 Middle Credit Score

    Full Doc for Salary Employee - W-2's and 30 days paycheck subs 

    Or

    Full Doc for Commission Professional - 2 years 1040's and Profit and Loss Statement

    Liquid Assets not required

    Jumbo Maximum Loan Amount - $3,000,000

    90% LTV:

    No mortgage lates

    Bankruptcy and Foreclosure3 years seasoned

    Property Types:

    • Single Family Residence
    • Condo
    • Non-Warrantable Condos
    • Townhouse
    • 2-4 Unit
    • Condotels case specific

    Rural properties OK for A through B- credit grades

    Occupancies:

    • Owner Occupied
    • Non Owner Occupies
    • Second Home

    Debt-to-Income Ratio

    50%

    For this program, Underwriter will utilize 100% of Personal Bank Statement deposits and 50% of Business Bank Statement deposits

    -Let a Mortgage Professional qualify your debt ratio

    LTV / Credit Score

    • 90% - 700
    • 85% LTV - 650
    • 80% LTV - 600
    • 75% LTV - 550
    • 65% LTV - 500

     

    R 3-9-20-1-4-5-12

  • A Wealth of Information, Service, and Resource

    For the purpose of origination, we are a progressive network of mortgage brokers specializing in unconventional mortgage loans.

    Unconventional Mortgage Lenders

    Wholesale and correspondent lender channels (agency and non-agency), institutional banks, portfolio lenders, hedge funds (non-qualified mortgage lender programs) credit unions, investors (institutional investors), private money lenders, various lending institutions and loan officers that have more to offer than conforming loansFannie Mae, Freddie Mac, VA, FHA, government, and agency loan programs.

    Alternative Home Loans

    We are about home loan options and lender resources - Non-QM, Non-Prime, Portfolio, Foreign National, Investor loans.

    Unconventional Mortgages

    Prime, Non-Prime, Qualified Mortgages and Non-Qualified mortgages, Alt Doc loans, Non-QM programs, non-conforming, non-agency including "a-paper fall-out", High Balance alt-doc, "ALT-QM" loans,  alternative-equity-financing, Investor loans (investment management company funds), private equity loans, and various income documentation options. Such as Bank Statement Loans, Asset Depletion Loans, Asset Utilization, equity-based lending, asset-based lending, liquid asset-based lending, security-based mortgages, self-employed home loans, subprime loans, Stated Income Verified Assets home loans, home equity loans, foreclosure loans, business and personal (cash-flow centric) bank statement loans, investment property loansjumbo loanssuper jumbo loansall programs. We handle conventional to unconventional and everything in between.

    Business Purpose Loans - A type of owner-occupied/primary residence stated income program. Cash Out refinance for the purpose of business expansion of any kind.

    Pre Full Application and Credit Check service: We can pre-qualify your loan scenario, i.e max loan amount/LTV,; credit scores; reserves; credit depth & seasoning (derogatory and non-derogatory), property types, occupancy types, income documentation solutions, employment verification documentation solutions, title vesting, before checking your credit report.

    Non-Qualified Home Loans

    Alternative real estate financing in large part is about Non-QM mortgage lending These types of mortgages are performing well in the marketplace which means more product and fewer conditions.

    Self-Employed Borrowers

    Worthy borrowers deserve to purchase real estate or refinance a property. Self-employed borrowers should be given a chance to obtain a good mortgage loan without being required to produce tax returns, etc. If you are a Self-Employed borrower and you're being asked to provide your tax return's or sign a 4506-T form, how can you expect to qualify?

    Solutions-Based Mortgage Lending

    We handle A-paper fallout. "Non-Agency", "Just Missed", "Expanded", "Elite", Qualified Mortgages (QM). We have access to additional lending resources, unconventional loan programs as well as niche loan programs. We offer Non-Agency real estate loans, Non-Prime loans, Non-QM loans, non-conventional home loans, Alt-A loans, private equity loans, hard money loans, private money loans, and Small Business Loans. These are cutting-edge, industry-leading lenders and loan programs.

    Since 2001, we have provided a noteworthy insight into the mortgage broker industry. We feel that our innovative and noteworthy product knowledge and superior lender resource speaks to the quality of service we provide as well as the relationships we have cultivated. We understand that every consumer can be different and make it our goal to matchyou with the lender that meets your specific requirements at the best possible rate, terms, and conditions. We understand that it can sometimes be difficult for a consumer to find the right lending options to fit their individual needs. Not everyone is going to fit in the same box

    When needed, we look for compensating factors in every area within a borrower's credit profile including credit, income, employment, assets, seasoning, etc. Such as seasoned cash reserves; a low loan-to-value (LTV) ratio; credit depth; payment history; smart utilization of credit card and revolving accounts; employment history (same line of work/profession); disposable income; seasoned homeowner; low debt-to-income (DTI) ratio; residual income; down payment; long-term employment (same job) seasoned business owner with a history of consistent income/cash-flow to achieve favorable results in the areas of not just getting approved for a mortgage but approved for the right mortgage.

    Potential Compensating Factors (approval, pricing, terms, conditions)

    • Credit history: Depth, tradeline seasoning, credit utilization, re-established credit, credit scores.
    • Income: Consistent Cash-Flow, residual, pension, dividends, trust fund, disposable, Debt-to-Income ratio (DTI)
    • Employment: History, seasoning, advanced college degree, business certifications
    • Seasoned liquid assets: cash reserves
    • Credit Profile: over-all seasoning: credit, employment, retirement account(s) assets accounts; liquid and real estate equity positions(portfolio), home ownership, business ownership/Industry experience
    • Etc.

    Real Estate Finance Information

    There's a story behind every credit profile and there is a credit profile behind every story

    Non-Qualified Mortgages - Alternative Income Documentation

    Alternative lending: mortgage loan programs; guidelines; matrices; credit score requirements, the maximum percentage of financing, maximum loan amounts, property types, occupancies, seasoning requirements, liquid reserve requirements, underwriting notes and so forth. After we acquire a new loan program, we post it to this website, select directories and social media websites to inform the consumer market as well as individuals like yourself to know what is currently available in the marketplace in an ever-evolving industry. We do update our information as loan program come and go and guidelines are always being updated.

    We are an information resource like no other. Our unprecedented and unique business model provides an uncommon approach to the mortgage lending industry with our remarkable style of transparency to the uncommon information we provide into the niche broker world of mortgages. We share unique individual loan program guidelines and highlights for some of the most progressive and leading-edge lenders.

    It is our priority to make the process of a mortgage loan as simple and quick as possible. We understand that it can sometimes be frustrating for a worthy borrower to find the right mortgage loan to fit their needs. We understand that each consumer can be different and far more than just a credit score; whether it is very high, which is often the case or very low, there are many factors when it comes to qualifying for a mortgage. We feel that the amount of product and resource we have and have worked very hard for is synonymous with the level of service that we provide, day in, day out, file in, file closed. We can take pride in being an authority in this space within the financial community. In the spirit of competition, our overall objective is to inform the consumer and create transparency. BrokerMortgages Blog.

  • Self Employed Mortgage Option

    Income Documentation - One Month Bank Statement Program. The income is stated and is not calculated fromthe one-month bank statement. The bank statement is to merely see if the account ends in a positive balance and with no NSF's. This one-month bank statement program is weighed almost entirely on the credit history of theborrower and again is stated with a 50% Debt-to-Income (DTI) ratio and cash reserves are not required. No 4506-T form means no tax transcripts.

    Verification of Employment Options (VOE):

    • Business License
    • CPA Letter
    • EA (Enrolled Agent) Letter
    • Articles of Incorporation
    • Articles of Business Organization
    • 4506-T not required
    • Tax returns not required

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

    Non-Qualified (Non-QM) Mortgage Program

    Purpose:

    • Purchase
    • Refinance Rate/Term
    • Refinance Cash Out - Unlimited

    Occupancy:

    • Owner-Occupied Only

    Single Family Residence Only

    Loan-to-Value (LTV):

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

    Maximum Loan Amount:

    • $5,000,000

    Eligible Property Types:

    • Single Family Residence - Attached (SFR)
    • Single Family Residence - Detached (SFR)
    • Townhome
    • Condo

    Credit:

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

    • Depth (criteria):
      • One open account tradeline with at least 3 years seasoning
      • Two open account tradelines with at least 3 years seasoning
    • Major "Credit Event" Required Seasoning: 
      • Bankruptcy - 4 years
      • Foreclosure - 4 years
      • Short Sale - 4 years
      • Deed-In-Lieu - 4 years
    • Consumer Credit
      • Charge-offs, Collections, Tax Liens - 3 years seasoned

    157-3-9-21

  • Jumbo Second Mortgage

    80% LTV 2nd mortgage to $350,000 Alt-Doc for Self-Employed Borrowers and Full Doc for everyone.

    710 Credit Score

    85% LTV

    Mortgage History: No 30-day lates for previous 12 months

    Bankruptcy - 3 Years seasoning

    Foreclosure - 3 Years seasoning

    Short Sale - 2 Years seasoning

    660 Credit Score

    80% LTV

    Mortgage History: One 30-day late maximum for previous 12 months

    Bankruptcy - 2 Years seasoning

    Foreclosure - 2 Years seasoning

    Short Sale - 1 Year seasoning 

    610 Credit Score

    70% LTV

    Mortgage History - One 60-day late maximum for previous 12 months

    Bankruptcy - 2 Years seasoning

    Foreclosure - 2 Years seasoning

    Short Sale - No Seasoning 

    550 Credit Score

    65% LTV

    Mortgage History - One 90-day late maximum for previous 12 months

    Bankruptcy - 1 years seasoning

    Foreclosure - 1 years seasoning

    Short Sale - no seasoning

     

    Required Income Documentation:

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    Conventional Full Doc - Wage Earner - W-2's and paycheck stubs

    Unconventional Full Doc - Self Employed or commission employees - 1040's and Profit and Loss statement

    Or

    24 months Personal or Business bank statements

    Loan Amounts:

    • $50,000 Minimum
    • $350,000 Maximum

    Credit Score: 550 minimum

    50% Debt to Income (DTI)

    Occupancy:

    • Owner Occupied Only

    Property Types:

    • Single Family Residence (SFR)
    • Condos
    • Townhomes

    Terms:

    ARM and Fixed rates available

    States: Alabama, Arizona, California, Colorado, Delaware, Florida, Georgia, Idaho, North Carolina, Oregon, Texas, Utah, Virginia, and Washington

     

    Reference# - 545221

  • Second Mortgage Bank Statement Mortgage Loan Program

    Stand-Alone Second Mortgage Program

    Required Credit Score - 700

    CLTV (Combined Loan-to-Value) /Loan Amount:

    • 85% CLTV / $250,000
    • 80% CLTV / $350,000
    • 75% CLTV / $500,000

    Property Types

    • Single Family Residence
    • Townhomes
    • Condos
    • PUD's

    Occupancy:

    • Owner-Occupied Only

    Cash Reserves:

    • 3 Months PITI - Principle, Interest, Tax, and Insurance

    Credit Criteria:

    Credit Criteria Credit Accounts/Tradelines:

    This second mortgage bank statement mortgage loan requires the borrower's credit report to show a minimum of 3 open or closed tradelines with a minimum of 12 months of activity history or 2 tradelines with a 24-month history that also requires activity within the previous 12 months, not including Authorized User-Accounts. Alternative tradelines are acceptable such as a 12 months housing payment history. Credit accounts to which the borrower is not required to make payments is not considered an acceptable tradeline such as deferred loans, derogatory items such as collections, charge-offs, including accounts that were discharged in a bankruptcy.

     

    reference# 225-7-18-5-5-14

  • Home Builder Construction Loan Program

    This is a short-term construction loan for home builders for subject properties located in Arizona, California, Colorado, Idaho, Illinois, Michigan, North Carolina, South Carolina, Ohio, Oregon, Texas, Utah, and Washington.

    Stated Income goes to 1 Million

    • 70% LTV (loan-to-value)
    • 85% LTC (loan-to-cost)

    Loan Amounts:

    • Maximum Loan Amount - 1 Million
    • Minimum Loan Amount - 50K

    Available Terms:

    • 4 months
    • 6 months
    • 9 months
    • 12 months

    Shorter-term - lower cost

    Blanket Loan available

    Construction Completion

    Draw Disbursement

    Eligible Property Types:

    • Single FamilyResidence SFR
    • 2 Unit
    • 3 Unit
    • 4 Unit

    Occupancies:

    • Owner Occupied and Non Owner Occupied

    Eligible Borrowers

    • Legal Entities - Yes
    • Foreign Nationals - Yes

    Underwriting Notes:

    Lender qualifies the lowest middle credit score of both borrowers

  • Stated Income Mortgage Program

    February 2019

    Almost all stated income loan programs are for investments properties. This loan is special in that it provides the option for people that cannot or prefer not to verify their income to purchase or refinance their primary home. In addition, what is also unique about this program is it allows for cash-out on a refinance in Arizona, California, Colorado, District of Columbia, Florida, Georgia, Idaho, Nevada, North Carolina, Oregon, Texas, Virginia, and Washington.

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    Self Employed only

    Loan purpose:

    Purchase, Rate and Term Refinance and Cash Out Refinance 

    Jumbo Loan Amounts

    Cash Out to $1,000,000

    Purchase and Rate & Term Refinance to $2,500,000

    Maximum LTV Financing:

    • Purchase to 75% LTV
    • Rate and Term to 75% LTV
    • Cash Out Refinance to 70%

    Property Types:

    • SFR
    • Condo (65% LTV maximum)

    No Non-warrantable Condos

    Occupancies:

    • Owner Occupied
    • Second Home to 60% LTV - $750,000 on Purchase and Refinance. -No Cash Out

    Credit Score Requirement:

    700 minimum middle score

    Verified Asset Requirements:

    • Loan amounts less than $650,000: $100,000 liquid
    • Loan amounts greater than $650,000: $250,000 liquid
    • Loan amounts between $1,000,000 to $1,500,000: $500,000 liquid
    • Greater than $1,500,000 - $1,000,000 liquid

    Underwriting Notes:

    Borrower cannot have more than 3 financed properties. No limit on number of properties owned

    Non owner occupied borrowers not allowed

    Private mortgage insurance not required

    10 acre maximum on property

    Appraisal notes:

    Full Appraisal required, interior and exterior with photos of both

    Desk review required for all loans greater than $750,000

    Property cannot have been on MLS for less than 90 days

    No purchase seasoning - utilize current market value

    Credit history notes:

    Payment history: No 30 day lates within last 24 months on mortgage or rent

    No 30 day lates on any consumer debt, revolving or installment

    Minimum 2 year active history on a minimum of 2 accounts required

    Unconventional credit not acceptable

    Job and Income document requirements:

    Self Employed:

    2 year job history

    Phone number will be verified via the internet

    Business license or CPA letter

    2 months bank statements or a VOD, Verification of Deposit, personal or business bank statements OK

    Rental Agreements can be qualified as income

    Eligible Borrowers:

    US Citizen

    Permanent and Non-permanent Resident Aliens

    3% contribution OK

    Any liens on the subject property must be a minimum of 6 months seasoned. 12 months on a HELOC with no draws within the last 12 months

     

    Reference# 254 525020215