Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

Non-QM Portfolio Lender Loan Programs

Non-Qualified Mortgage Lender Serving California Business Owners

Non-Qm lender offering Non-QM loan programs to California self-employed borrowers. California business owners need flexible non-qualified underwriter guidelines with favorable pricing, reasonable terms, and advantageous approval conditions (Conditional Loan Approval | CLA)) to increase their chances of getting approved for a reasonable mortgage without being required to produce documentation that will almost always eliminate their chances for success in obtaining an effective income documentation self-employed home loan approval.

IRS Form 4506-T and 4506-C Not Required

IRS Form 4506-C (previously 4506-T effective 5/1/2021) is a self-employed borrower home loan killer.
Unconventional income documentation such as Bank Statements, 1099’s and/or liquid Asset Depletion including Asset Distribution as an alternative to business and personal tax returns, P&L’s, etc. Form 4506-C for a W2 co-borrower is required to be signed and lender executed for W2 transcripts only, not tax transcripts regardless of primary self-employed and W2 co-borrower joint filing.

Purpose: Purchase, Rate & Term and Cash Out Refinance

Purchase (10% Purchase Down Payment) and Rate & Term Refinance – 90% LTV

Cash Out Refinance – Cash Out for Whatever Purpose (Cash-in-Hand) $2,500,000 Maximum Cash Out

Maximum Loan Amounts

Alternative Income Documentation

* 12 Months Personal Bank Statements (with and without 3 months business bank statements)

* 12 Months Business Bank Statements

* 24 Months Personal Bank Statements

* 24 Months Business Bank Statements

* Asset Depletion

* Asset Distribution – Seasoning Not Required

* Rental Leases with 3 Months Bank Statements (Including Short-Term such as AIRBNB)

* 1099 Only

* 1-Year 1040 Plus Schedule E

Niches:

* Non-Occupant Co-Borrower

* Maximum Loan-to-Values “LTV” for Purchase, R/T Refinance and Cash Out Refinance

* Jumbo to $10,000,000

* Super Jumbo to $30,000,000

Eligible Employment Types

Self Employed with >25% ownership and Sole Proprietor

Verification of Self-Employment Employment (VOSE)

* Business License

* CPA Letter (“Tax Professional”)Internet Business Listing

* Sellers License

Reserve Requirements

Subject Property PITIA (Principle, Tax, Hazard Insurance and Association Dues) – 6 Months

REO – 6 Months Additional for Each Real Estate Owned

Eligible Property Types

* Single Family Residence (SFR) – Attached

* Single Family Residence (SFR) – Detached

* Condos – < 4 Stories

* 2-4 Unit

Eligible Occupancies

Primary

Owner Occupied/Investment

Non-Owner Occupied/Investment

Second/Vacation Homes

Available Terms

ARM’s – 5 Year and 7 Year

* 30 Year Fixed and 40 Year Fixe

* Interest Only – 10 years

Required Credit Criteria/Credit Scores

Credit Scores: Tri-Merge Report

660 Middle Credit Score

“Housing Event” Credit Seasoning

* Bankruptcy – 3 years required

* Foreclosure – 3 years required

* Short Sale – 2 years required

* Deed in Lieu – 1 year required

Underwriter Notes:

* Form 4506-T Not Required

* First Time Home Buyers – OK

* Gift Funds from Immediate Family Member – OK

* Rent-Free Housing History – Not Allowed

* Pre-Payment Penalty Options Available

* Investors: Unlimited Financed Real Estate Owned (REO) – OK

We Service the Following California Counties:

Alameda County, Contra Costa County, El Dorado County, Fresno County, Kern County, Kings County, Los Angeles County, Madera County, Marin County, Napa County, Merced County, Monterey County, Orange County, Placer County, Riverside County, Sacramento County, San Bernardino County, San Francisco County, San Joaquin County, San Luis Obispo County, San Mateo County, Santa Barbara County, Santa Clara County, Santa Cruz County, Solano County, Sonoma County, Stanislaus County, Tulare County, Ventura County, and Yolo County.

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders