Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

Non-Qualified Mortgage Jumbo | Non-QM

This loan program is designed for home-buyers (purchase transaction) and home-owners (refinance transaction) that do not want to provide (Form 4506-T not required and Form 4506-C also is not required) or are unable to produce (business and/or personal tax returns, W-2’s, paycheck stubs, lease agreements, etc.)

Non-traditional income documentation have been on their job/profession business owner for less than two years or have a major credit event on their credit report (Non-Prime) such as a bankruptcy, foreclosure, short-sale, loan modification, or automobile repossession, have a Full Doc debt to income ratio higher than 43% or would like a more flexible term such as a 40-year amortization payment with or without an “interest-only” payment option or just happen to fall outside the credit (depth or seasoning) guideline requirements of a Qualified (QM) or “prime” jumbo mortgage loan.

Creative “Ability-to-Repay” (ATR) Financing

Maximum Loan Amount: $3,000,000

Asset Utilization/Cash-Flow (bank statements) Loan Program with a 55% DTI

Loan Purpose and Percentage of Financing:

* Purchase – 10% Down Payment

* Rate/Term Refinance – 85% LTV

* Cash Out Refinance – 80% LTV

Income Documentation Program – 6 Options for Self-Employed in Conjunction with a “Borrower Prepared” and Unaudited Profit & Loss Statement | P&L

“Alt-Doc” (self-employed): Bank Statements and/or Asset Depletion / Asset Utilization:

* 24 Months Business Bank Account

* 12 Months Personal Bank Account

* Asset Depletion (asset utilization)

* “Low Doc” (self-employed and W-2): Reduced Doc

* 1 Year W2 and/or 1-Year Tax Return

* 1099 Only – 1 Year or 2 Years – OK

Alt Income: Borrower Prepared P&L – ask your Loan Officer for further additional details.

Alt Doc and Low Doc Programs are for the Primary and Self-Employed Borrower:

* Co-Borrower W-2 Employee OK for Low Doc – 1 year W-2 in Lieu of the Traditional 2-Year Requirement

Based on Bank Statement Cash-Flow, Liquid Asset Reserves (stand-alone or in conjunction with bank statements) Liquid Assets, Cash-Flow, and Real Estate Portfolio Equity

Borrower Credit Profile:

* Cannot Provide Conventional “Full Doc” Income documentation.

* Unseasoned (<2 years) Employment History

* Unseasoned Credit Event – Bankruptcy, Foreclosure, Short-Sale, Loan modification

* >43% Debt-to-Income (DTI) Ratio

Credit Notes:

Mortgage Credit Score: 660 minimum middle score or lower of 2 scores

Major Credit Seasoning:

* Bankruptcy – 3 years from discharge date

* Foreclosure – 2 years

* Short-Sale – 2 years

* Loan Modification – 2 years

Available in the Following States:

Alabama, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Maine, Maryland, Missouri, Nevada, New Jersey, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders