Non-Prime Super Jumbo Bank Statement Loan

 Mortgage Pre Qualification Form - Credit Check Not Required

24 Consecutive Months Personal or Business Bank Statements

Jumbo Maximum Loan Amount - $4,000,000

Alternative Income Documentation Options

  • Alternative Documentation for Self Employed:

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

  • Purchase Loans LTV - Credit Score:
    • 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  LTV - Credit Score:
    • 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
  • Major Derogatory Credit Seasoning Requirements:
    • Bankruptcy- 3 years seasoned
    • Foreclosure - 3 years seasoned
  • Property Types:
    • Single Family Residence
    • Condo
    • Non-Warrantable Condos
    • Townhouse
    • 2-4 Unit
    • Condotels case specific
  • Eligible Occupancy Types
    • Owner Occupied
    • Non Owner Occupies
    • Second Home

Debt-to-Income Ratio - 50%

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

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

Liquid Assets not required

No mortgage lates

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

No Liquid reserve requirement - $0

For this program, Underwriter will utilize 100% of Personal Bank Statement deposits and as much as 90%  of Business Bank Statement deposits along with either a "Borrower Prepared Unaudited Profit and Loss" or an expense Letter from CPA or Tax Preparer Professional.

-Let a Mortgage Professional qualify your debt ratio

Rural properties OK for A through B- credit grades 

 

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