Non-Prime Super Jumbo Bank Statement Loan

24 Consecutive Months Personal or Business Bank Statements

Alternative Income and Verification of Employment Documentation Options:

Self-Employed Alternatives:

  • Bank Statements

  • Borrower Prepared P&L

  • Tax Returns Not Required

  • Form 4506-T Not Required

Jumbo Maximum Loan Amount - $4,000,000

Flexible Debt-to-Income Ratios - 55%

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 

  • Purchase Loans LTV - Credit Score:

    • 90% LTV - 700 Middle Credit Score

    • 85% LTV - 640 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 - 660 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- 2 years seasoned

    • Foreclosure - 2 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 Occupied

    • Second Home

 

States:

Alabama | Arizona | California | Colorado | Delaware | Florida | Georgia | Hawaii | Illinois | Iowa | Kansas | Kentucky | Louisiana | Maine | Maryland | Massachusetts | Michigan | Mississippi | Missouri | Nevada | New Hampshire | New Mexico | North Carolina | Oklahoma | Oregon | Pennsylvania | Rhode Island | South Carolina | Tennessee | Texas | Utah | Vermont | Virginia | Washington | Wisconsin