Unconventional Mortgages and Loans (800) 718-8906

Unconventional Mortgages and Loans

Customer Service: (800) 718-8906

One Month Bank Statement Mortgage Loan Program

Self-Employed Mortgage one Month Bank Statement Option – Non-Qualified Mortgage Program | Non-QM

The Income is stated and is not calculated (No Ratio) from the One-Month Bank Statement. The main Bank Statement Qualifying Criteria is the Account 1) must end in a positive balance with no NSF’s.

Income Documentation – One Month Bank Statement Program

This One-Month Bank Statement Program is Weighed Almost Entirely on the Credit History of the Borrower 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. Form 4506-C now not required

One Year VOE means your qualifying criteria is based only on the one, most recent year period instead of the standard two-year history. via the standard income VOE which we have little or no control of methods of income history and standard methods of employment verification.

Qualifying in terms of income and of the One Year the method of verification can be a little inconvenient.

Verification of Employment (VOE) Options

One of the most critical parts of getting approved for a Non-QM, alt-doc loan is verifying employment. 2-year history does need to be verified and is often very easy and convenient. When done properly with the ideal method via any of the following:

Business License

CPA Letter

EA (Enrolled Agent) Letter

Articles of Incorporation

Articles of Business Organization

Government Agency Certificate

Sellers License

4506-T Not Required

Jumbo Loan Amounts: $4,000,000

Purpose: Purchase, Rate/Term and Cash Out – | Owner-Occupied Only | Single Family Residence Only:

Credit Score 620:

LTV: 70% Purchase | 65% Cash-Out – $500,000

Credit Score 640:

LTV: 70% Purchase | 65% Cash-Out – $1,000,000

Credit Score 660:

LTV: 75% Purchase | 70% Cash-Out -$1,500,000

Credit Score 680:

LTV: 80% Purchase | 75% Cash-Out – $1,500,000

Credit Score 700:

LTV: 85% Purchase | 70% Cash-Out – $2,000,000

Credit Score 720:

LTV: 85% Purchase | 80% Cash-Out – $2,500,000

Credit Score 740:

LTV: 85% Purchase | 75% Cash-Out – $3,000,000

Credit Score 760:

LTV: 90% Purchase | 85% Cash-Out – $4,000,000

Credit Score 680:

LTV: 80% Purchase | 75% Cash-Out – $1,500,000

LTV: 75% Purchase | 70% Cash-Out – $2,000,00

Credit Score 700:

LTV: 85% Purchase | 80% Cash-Out – $2,500,000

LTV: 80% Purchase | 75% Cash-Out – $3,000,000

Credit Score 720:

LTV: 90% Purchase | 85% Cash-Out – $3,500,000

LTV: 85% Purchase | 80% Cash-Out – $4,000,000

Eligible Property Types:

Single Family Residence – Attached (SFR)

Single Family Residence – Detached (SFR

Credit Report:

Minimum Credit Score – 620

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

Credit Depth Criteria:

One open account tradeline >3 years seasoning

Two open account tradelines >1 year seasoning

“Housing Event” Seasoning Requirements:

Bankruptcy

Chapter 7 – 12 months

Chapter: 13 – 24 month

Foreclosure – 24 months

Short Sale – 24 months

Deed-In-Lieu – 24 months

Consumer Credit Counseling – 24 months

Charge-offs, collections, tax liens – 1 day

Loan Scenario Form – Credit Check Not Required

Available in the following States:

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

157-3-9-21

Alternative Income Documentation

Contact a Loan Officer

Non-Qualified Mortgage Lending

Alt Doc Purchase Loans

Alt Doc Refinance Loans

Category - Non-QM Lenders